Houston, Sept. 3, 2015 (GLOBE NEWSWIRE) — Noble Energy, Inc. (“Noble Energy”) (NYSE: NBL) continues to work diligently with the government of Israel to address matters necessary to facilitate the development of its world class discoveries at Tamar and Leviathan and ensure a stable investment climate. David L. Stover, Noble Energy’s Chairman, President and CEO, commented:
“Under the leadership of the Prime Minister and the Minister of Energy and Water Resources, a regulatory framework meeting these objectives has been overwhelmingly approved by the Israeli cabinet and yesterday was presented to the Knesset. It is imperative that the government of Israel follow through on this approved framework without further delay. Noble Energy remains fully prepared, and is well positioned, to take the actions necessary to protect the value of its assets.”
“Regional demand supports the further development of our world class Tamar and Leviathan fields. Noble Energy continues its ongoing discussions with natural gas customers throughout the region, and yesterday the government of Egypt publicly reiterated its support for the import of gas from Israel for both domestic and LNG export purposes. We are confident that the quality of our Israel assets, extensive appraisal and planning efforts, and proven track record of project execution and operating performance position us well to supply natural gas to the substantially underserved regional market.”
Noble Energy (NYSE: NBL) is a global independent oil and natural gas exploration and production company, with proved reserves of 1.7 billion barrels of oil equivalent at year-end 2014 (pro forma for the Rosetta acquisition). The company’s diverse resource base includes core positions in four premier unconventional U.S. onshore plays – the DJ Basin, Eagle Ford Shale, Delaware Basin, and Marcellus Shale – and offshore in the U.S. Gulf of Mexico, Eastern Mediterranean and West Africa. Driven by its purpose, Energizing the World, Bettering People’s Lives®, the company is committed to safely and responsibly providing energy to the world while positively impacting the lives of our stakeholders. For more information, visit www.nobleenergyinc.com.
Forward Looking Statements
This news release contains certain “forward-looking statements” within the meaning of federal securities law. Words such as “anticipates,” “believes,” “expects,” “intends,” “will,” “should,” “may,” and similar expressions may be used to identify forward-looking statements. Forward-looking statements are not statements of historical fact and reflect Noble Energy’s current views about future events. They include estimates of oil and natural gas reserves and resources, estimates of future production, assumptions regarding future oil and natural gas pricing, planned drilling activity, future results of operations, projected cash flow and liquidity, business strategy and other plans and objectives for future operations. No assurances can be given that the forward-looking statements contained in this news release will occur as projected, and actual results may differ materially from those projected. Forward-looking statements are based on current expectations, estimates and assumptions that involve a number of risks and uncertainties that could cause actual results to differ materially from those projected. These risks and uncertainties include, without limitation, the risk that the businesses of Noble Energy and Rosetta will not be integrated successfully, the risk that the cost savings and any other synergies from the merger transaction may not be fully realized or may take longer to realize than expected, the volatility in commodity prices for crude oil and natural gas, the presence or recoverability of estimated reserves, the ability to replace reserves, environmental risks, drilling and operating risks, exploration and development risks, competition, government regulation or other actions, the ability of management to execute its plans to meet its goals and other risks inherent in Noble Energy’s and Rosetta’s businesses that are discussed in Noble Energy’s and Rosetta’s most recent annual reports on Form 10-K, respectively, and in other reports on file with the Securities and Exchange Commission (the “SEC”). These reports are also available from Noble Energy’s offices or website, http://www.nobleenergyinc.com. Forward-looking statements are based on the estimates and opinions of management at the time the statements are made. Noble Energy does not assume any obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.
The Securities and Exchange Commission requires oil and gas companies, in their filings with the SEC, to disclose proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. The SEC permits the optional disclosure of probable and possible reserves, however, we have not disclosed our probable and possible reserves in our filings with the SEC. We use certain terms in this news release, such as “
net unrisked resource potential
” which are by their nature more speculative than estimates of proved, probable and possible reserves and accordingly are subject to substantially greater risk of being actually realized. The SEC guidelines strictly prohibit us from including these estimates in filings with the SEC. Investors are urged to consider closely the disclosures and risk factors in our most recent annual report on Form 10-K and in other reports on file with the SEC, available from Noble Energy’s offices or website, http://www.nobleenergyinc.com.
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