Noble Energy plans $1.42 billion budget for 2007

Noble Energy Inc. announced planned capital expenditures of $1.42 billion for 2007. Capital expenditures for 2006 totaled $1.87 billion, including $520 million for acquisitions.

Feb 7th, 2007

By OGJ editors
HOUSTON, Feb. 7 -- Noble Energy Inc. announced planned capital expenditures of $1.42 billion for 2007. Capital expenditures for 2006 totaled $1.87 billion, including $520 million for acquisitions.

Exploration, including lease acquisitions and seismic surveys, account for 26% of the 2007 capital program, and 74% is dedicated to production, development, and other projects. About $1.09 billion has been allocated for the company's program in the US and $300 million is earmarked for international projects.

Of the US program, 82% is allocated for production and development with the rest allocated for exploration. Of the international capital program, 61% is for exploration.

About half of the international capital program is dedicated to West Africa where the company plans to appraise its discovery on Block O in Equatorial Guinea and test several additional prospects in 2007.

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