Dont know if anyone has posted the latest news release and presentation by Noble Energy. News release containing latest highlights at following link:
Of most interest to me was the following comment:
"Net risked resources have increased to 8 billion barrels of oil equivalent (BBoe), up 8 percent from 7.4 BBoe in November 2011. The increase reflects performance of the horizontal Niobrara program, including further derisking of acreage in Northern Colorado outside of the Wattenberg field, and new exploration opportunities onshore U.S. and offshore West Africa."
The Niobrara reference relates to their work in developing their Northern Colorado field, which lies between their now lucrative Wattenberg field and our Goshen County field.
Also, they go into a lot of detail on the developments, including multi-well eco-pad developments, in their Niobrara play - see slides 13-22 of the following presentation (50 slides, the rest goes into their other plays):
For anyone who thinks the Niobrara is a dud, tell that to these guys, they have figured it out, and as was quoted earlier it is clear they throw a lot of money at making it work - but thats what it takes, money, time and effort. It is very clear from their presentations that their first well(s) there werent that great, but they have steadily improved them.
Cheers, Sharks.
SSN Price at posting:
11.5¢ Sentiment: Buy Disclosure: Held
