Noble Energy's 2012 spending plans emphasize Niobrara, Marcellus drilling

By OGJ editors

Noble Energy Inc. plans to invest $1.25 billion in the Denver-Julesburg basin to expand its Niobrara horizontal drilling program and to spend $500 million in the Marcellus shale this year as part of a $3.5 billion budget that the company outlined for 2012.

The capital program allocates 51% to onshore US, 7% to deepwater Gulf of Mexico, 22% to the Eastern Mediterranean and 14% to West Africa. Global exploration and appraisal activity is expected to receive 16%.

Charles D. Davidson, Noble Energy chairman and chief executive officer, said developments in the Niobrara and Marcellus continue to gain momentum and are expected to deliver consistent growth for years (OGJ Online, Nov. 15, 2011).

“Exploration remains a key component of the 2012 program as we plan to test a number of prospects throughout our focus areas,” Davidson said.

Noble Energy plans to drill 173 horizontal wells and to maintain an active vertical well program in Wattenberg in 2012.

In the Marcellus shale where it has a joint venture with Consol Energy Inc., Nobel plans to support the drilling of 99 wells, targeting 39 operated wells in the liquids-rich area of the play (OGJ Online, Aug. 18, 2011).

In the deepwater gulf, Noble Energy expects to spend $250 million. Noble Energy's core international programs in West Africa and the Eastern Mediterranean represent $500 million and $750 million, respectively. Capital also was allocated to China, the North Sea, and several new venture opportunities.

Related Articles

Statoil farms out 15% interest in block offshore Angola

04/03/2014 Statoil ASA has agreed to farm out a 15% interest in Block 39 of the Kwanza presalt basin offshore Angola to WRG Angola Block 39 Ltd. (WRG). The de...

WoodMac: Bakken drilling, completion capex to top $15 billion in 2014

04/02/2014 Oil and gas industry analyst Wood Mackenzie Ltd. forecasts that operators in the Bakken shale will invest more than $15 billion on drilling and com...

Contract let for Yolla gas field rig

04/01/2014 Origin Energy Ltd., Sydney, and partners in the BassGas joint venture have let a contract to Seadrill Australia Pte. Ltd. to provide the West Teles...

Moody’s: Marcellus shale gas producers to benefit most in US

04/01/2014 Natural gas producers in the Marcellus shale will benefit more than producers elsewhere in the US because of many favorable circumstances, even if ...

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected