Noble Energy Expands Deepwater Position in Central Gulf of Mexico Lease Sale 213
HOUSTON, March 17 /PRNewswire-FirstCall/ -- Noble Energy, Inc. (NYSE: NBL) announced today it was the apparent high bidder on 16 deepwater lease blocks in the Central Gulf of Mexico Lease Sale 213. The Company joined with partners on one of the high bids and bid alone on the remainder. Noble Energy's share of the lease bonuses on its apparent high bids totaled approximately $37.7 million.
The high bid blocks cover in excess of 82,500 net acres in water depths up to 7,800 feet. Should all of the bids be awarded, Noble Energy's total acreage position in the deepwater Gulf of Mexico will expand to over 472,500 net acres. All high bids are subject to approval by the Minerals Management Service (MMS) of the U.S. Department of the Interior.
David L. Stover, the company's President and COO, said, "Today's results from the lease sale continue to build upon our attractive exploration inventory in the deepwater Gulf of Mexico. We remain focused on the Green Canyon and Mississippi Canyon areas and are particularly pleased to be high bidder on a number of our top priority prospects."
Noble Energy is a leading independent energy company engaged in worldwide oil and gas exploration and production. The Company operates primarily in the Rocky Mountains, Mid-Continent, and deepwater Gulf of Mexico areas in the United States, with key international operations offshore Israel and West Africa. Noble Energy is listed on the New York Stock Exchange and is traded under the ticker symbol NBL. Visit Noble Energy online at www.nobleenergyinc.com.
This news release may include projections and other "forward-looking statements" within the meaning of the federal securities laws. Any such projections or statements reflect Noble Energy's current views about future events and financial performance. No assurances can be given that such events or performance will occur as projected, and actual results may differ materially from those projected. Risks, uncertainties and assumptions that could cause actual results to differ materially from those projected include, without limitation, 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 action, the ability of management to execute its plans to meet its goals and other risks inherent in Noble Energy's business that are detailed in its Securities and Exchange Commission filings. Words such as "anticipates," "believes," "expects," "intends," "will," "should," "may," and similar expressions may be used to identify forward-looking statements. Noble Energy assumes no obligation and expressly disclaims any duty to update the information contained herein except as required by law.
The Securities and Exchange Commission permits 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. Beginning with year-end reserves for 2009, the SEC permits the optional disclosure of probable and possible reserves. We have elected not to disclose the Company's probable and possible reserves in our filings with the SEC. We use certain terms in this news release, such as "resource potential," that the SEC's guidelines strictly prohibit us from including in filings with the SEC. Investors are urged to consider closely the disclosures and risk factors in our Forms 10-K and 10-Q, File No. 1-07964, available from Noble Energy's offices or website, http://www.nobleenergyinc.com. These forms can also be obtained from the SEC by calling 1-800-SEC-0330.
SOURCE Noble Energy, Inc.
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