By OGJ editors
HOUSTON, Mar. 3 -- Noble Energy Inc. budgeted capital expenditures of $1.26 billion for 2006, an increase of 40% from last year.
The 2006 figure does not include capital investments for the acquisition of United States Exploration Inc., announced Feb. 9 (OGJ Online, Feb. 13, 2006).
About 23% of the 2006 budget has been allocated to exploration and 77% to production, development, and other projects. Noble plans to spend $860 million in the US and $380 million elsewhere.
In the US, about 30% of Noble's spending will be for projects on the Gulf Coast and in the Gulf of Mexico, 40% in the Rocky Mountains, and 30% in the Midcontinent.
About 85% of the non-US budget is for production and development.
Noble budgeted $240 million for Europe and the Middle East, $105 million for West Africa, and $35 million for the Far East and Latin America.
