Table of Contents Table of Contents 2 List of Tables 5 List of Figures 6 Company Snapshot 8 Key Information 8 Company Overview 8 Noble Energy, Inc., Valuation and Financial Data 9 Noble Energy, Inc., Share Price Performance 9 Share Price Performance, Q4, 2014-Q4, 2015 9 Noble Energy, Inc., Key Valuation Metrics 10 Key Valuation Metrics, Q4, 2014-Q4, 2015 10 Noble Energy, Inc., Quarterly Results of Oil & Gas Operations Per boe Produced 11 Results of Oil & Gas Operations Per boe Produced, Q4, 2014-Q4, 2015 11 Results of Oil & Gas Operations Per boe Growth Rates, Q4, 2014-Q4, 2015 12 Noble Energy, Inc., Quarterly E&P Costs Trends 13 Upstream Capital Expenditure, Q4, 2014-Q4, 2015 13 Noble Energy, Inc., Quarterly Production Trends 14 Noble Energy, Inc., Total Oil and Gas Production 14 Total Crude Oil and Natural Gas Production Trend, Q4, 2014-Q4, 2015 14 Total Crude Oil & Natural Gas Production, By Country/Region, Q4, 2014-Q4, 2015 15 Noble Energy, Inc., Crude Oil Production 16 Total Crude Oil Production Trend, Q4, 2014-Q4, 2015 16 Crude Oil Production, By Country/Region, Q4, 2014-Q4, 2015 17 Noble Energy, Inc., Natural Gas Production 18 Total Natural Gas Production Trend, Q4, 2014-Q4, 2015 18 Natural Gas Production, By Country/Region, Q4, 2014-Q4, 2015 19 Noble Energy, Inc., Valuation and Financial Data, 2011-2015 20 Noble Energy, Inc., Share Price Performance, 2011-2015 20 Share Price Performance, 2011-2015 20 Key Valuation Metrics, 2011-2015 21 Noble Energy, Inc., Production and Reserves Trends 22 Total Oil and Gas, Reserves and Production 22 Total Crude Oil and Natural Gas Production and Reserves Trend, 2011-2015 22 Total Crude Oil & Natural Gas Production and Reserves By Country/Region, 2011-2015 24 Total Crude Oil and Natural Gas Reserve Changes, 2011-2015 26 Crude Oil/Liquids Production and Reserve 27 Crude Oil/Liquids Production and Reserve Trend, 2011-2015 27 Crude Oil Production and Reserves By Country/Region, 2011-2015 28 Crude Oil/Liquids Reserve Changes, 2011-2015 30 Natural Gas Production and Reserve 31 Natural Gas Production and Reserve Trend, 2011-2015 31 Natural Gas Production and Reserves, By Country/Region, 2011-2015 32 Natural Gas Reserve Changes, 2011-2015 34 Total Crude Oil and Natural Gas Reserves Life Index 35 Total Crude Oil and Natural Gas Reserves Life Index, 2011-2015 35 Total Crude Oil and Natural Gas Reserves Life Index, By Country/Region, 2011-2015 36 Noble Energy, Inc., E&P Costs Trends 38 Allocation of the Upstream Capital Expenditure 38 Upstream Capital Expenditure, 2011-2015 38 Acquisition Costs By Country/Region, 2011-2015 39 Exploration and Development Costs, By Country/Region, 2011-2015 41 Oil and Gas Cost Per boe, US$/boe 43 Oil and Gas Cost Per boe, US$/boe, 2011-2015 43 Oil and Gas Cost Per boe, US$/boe, By Country/Region, 2011-2015 45 Noble Energy, Inc., Reserve Replacement Ratio 47 Oil and Gas Production Replacement Ratio 47 Oil and Gas Production Replacement Ratio, 2011-2015 47 Oil and Gas Production Replacement Ratio, By Country/Region, 2011-2015 49 Noble Energy, Inc., Results of Oil & Gas Operations Trend 53 Oil and Gas Revenue and Expenses 53 Oil and Gas Revenue and Expenses, 2011-2015 53 Oil and Gas Revenue and Expenses, By Country/Region, 2011-2015 54 Oil and Gas Revenue and Expenses, Per boe 60 Oil and Gas Revenue and Expenses, By boe, 2011-2015 60 Oil and Gas Revenue and Expenses Per boe, By Country/Region, 2011-2015 61 Oil and Gas Performance Metrics 66 Noble Energy, Inc., Land Holdings and Well Data 67 Developed and Undeveloped Acreage 67 Gross and Net Developed and Undeveloped Acreage, 2011-2015 67 Gross and Net Developed and Undeveloped Acreage, By Country/Region, 2011-2015 68 Well Statistics 72 Producible Oil and Gas Well, 2011-2015 72 Producible Oil and Gas Well, By Country/Region, 2011-2015 73 Exploration and Development Wells Drilled, 2011-2015 78 Recent Developments 79 Noble Energy, Inc. - Recent Developments 79 Apr 08, 2016: Noble Energy Provides Gulf Of Mexico Drilling Update 79 Mar 28, 2016: Delek To Decide On Leviathan Gas Field Development By 2016 End 79 Mar 27, 2016: Noble Energy: Israel Supreme Court Rules Stability Provisions To Be Addressed Through Alternate Means 79 Feb 17, 2016: Noble Energy Announces Fourth Quarter And Year-End 2015 Results 80 Feb 17, 2016: Noble Energy Details 2016 Outlook And Guidance 84 Feb 16, 2016: Cyprus To Launch Third Round Of Hydrocarbon Exploration Licensing 85 Feb 14, 2016: Israel Requests Apex Court To Approve Leviathan Gas Field Deal 85 Feb 12, 2016: Rockhopper Exploration Announces Rig Contract Cancellation 86 Jan 07, 2016: Noble Energy, Delek In Talks With Israeli Firms To Sell Gas From Leviathan Field 87 Dec 24, 2015: Israel Permits To Begin Natural Gas Exports From Tamar Field To Egypt 87 Appendix 88 Methodology 88 Coverage 88 Secondary Research 88 Primary Research 88 Data Information Sources 89 Company Source 89 SEC/Other Regulatory Filings 89 Other Sources 89 Expert Panel Validation 89 Data Definition 89 Oil and Gas Reserves 89 Units of Measure 90 About GlobalData 90 Disclosure 90 Disclaimer 90

List of Tables Table 1: Noble Energy, Inc., Key Facts 8 Table 2: Noble Energy, Inc., Share Price Performance, Q4, 2014-Q4, 2015 9 Table 3: Noble Energy, Inc., Key Valuation Metrics, Q4, 2014-Q4, 2015 10 Table 4: Noble Energy, Inc., Results of Oil & Gas Operations Per boe Produced, US$/boe, Q4, 2014-Q4, 2015 11 Table 5: Noble Energy, Inc., Results of Oil & Gas Operations Per boe Growth Rates, %, Q4, 2014-Q4, 2015 12 Table 6: Noble Energy, Inc., Upstream Capital Expenditure, Q4, 2014-Q4, 2015 13 Table 7: Noble Energy, Inc., Total Crude Oil and Natural Gas, Production, Q4, 2014-Q4, 2015 14 Table 8: Noble Energy, Inc., Total Oil & Gas Production, By Country/Region, mmboe, Q4, 2014-Q4, 2015 15 Table 9: Noble Energy, Inc., Total Crude Oil Production, mmbbl, Q4, 2014-Q4, 2015 16 Table 10: Noble Energy, Inc., Crude Oil Production, By Country/Region, mmbbl, Q4, 2014-Q4, 2015 17 Table 11: Noble Energy, Inc., Total Natural Gas Production, bcf, Q4, 2014-Q4, 2015 18 Table 12: Noble Energy, Inc., Natural Gas Production, By Country/Region, bcf, Q4, 2014-Q4, 2015 19 Table 13: Noble Energy, Inc., Share Price Performance, 2011-2015 20 Table 14: Noble Energy, Inc., Key Valuation Metrics, 2011-2015 21 Table 15: Noble Energy, Inc., Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2011-2015 23 Table 16: Noble Energy, Inc., Total Crude Oil & Natural Gas Production and Reserves, By Country/Region, mmboe, 2011-2015 25 Table 17: Noble Energy, Inc., Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2011-2015 26 Table 18: Noble Energy, Inc., Crude Oil Production and Reserves Metrics, mmbbl, 2011-2015 27 Table 19: Noble Energy, Inc., Crude Oil Production and Reserves, By Country/Region, mmbbl, 2011-2015 29 Table 20: Noble Energy, Inc., Crude Oil Reserve Changes, mmbbl, 2011-2015 30 Table 21: Noble Energy, Inc., Natural Gas Production and Reserves Metrics, bcf, 2011-2015 31 Table 22: Noble Energy, Inc., Natural Gas Production and Reserves, By Country/Region, bcf, 2011-2015 33 Table 23: Noble Energy, Inc., Natural Gas Reserve Changes, bcf, 2011-2015 34 Table 24: Noble Energy, Inc., Oil and Gas Reserves Life Index, Years, 2011-2015 35 Table 25: Noble Energy, Inc., Oil and Gas Reserves Life Index, By Country/Region, Years, 2011-2015 37 Table 26: Noble Energy, Inc., Upstream Capital Expenditure, US$ mil, 2011-2015 38 Table 27: Noble Energy, Inc., Proved and Unproved Acquisition Costs, By Country/Region, US$ mil, 2011-2015 40 Table 28: Noble Energy, Inc., Exploration and Development Costs, By Country/Region, US$ mil, 2011-2015 42 Table 29: Noble Energy, Inc., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2011-2015 43 Table 30: Noble Energy, Inc., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, By Country/Region, 2011-2015 46 Table 31: Noble Energy, Inc., Oil and Gas Production Replacement Ratio, %, 2011-2015 47 Table 32: Noble Energy, Inc., 3-Year Wt.Avg. Oil and Gas Production Replacement Ratio, By Country/Region, %, 2011-2015 52 Table 33: Noble Energy, Inc., Revenue and Expenses, US$ mil, 2011-2015 53 Table 34: Noble Energy, Inc., Revenue and Expenses, By Country/Region, US$ mil, 2011-2015 58 Table 35: Noble Energy, Inc., Oil and Gas Revenue and Expenses, US$/boe, 2011-2015 60 Table 36: Noble Energy, Inc., Oil and Gas Revenue and Expenses, US$/boe, By Country/Region, 2011-2015 64 Table 37: Noble Energy, Inc., Oil and Gas Performance Metrics, 2011-2015 66 Table 38: Noble Energy, Inc., Land Holdings (Developed and Undeveloped Acreage), Acres, 2011-2015 67 Table 39: Noble Energy, Inc., Land Holdings (Developed and Undeveloped Acreage), By Country/Region, Acres, 2011-2015 70 Table 40: Noble Energy, Inc., Producible Oil and Gas Wells, 2011-2015 72 Table 41: Noble Energy, Inc., Producible Oil and Gas Wells, By Country/Region, 2011-2015 76 Table 42: Noble Energy, Inc., Exploratory and Developed Wells, 2011-2015 78 List of Figures Figure 1: Noble Energy, Inc., Share Price Performance, USD/Share, Q4, 2014-Q4, 2015 9 Figure 2: Noble Energy, Inc., Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve ($/boe), Q4, 2014-Q4, 2015 10 Figure 3: Noble Energy, Inc., Results of Oil & Gas Operations Per boe Produced, US$/boe, Q4, 2014-Q4, 2015 11 Figure 4: Noble Energy, Inc., Upstream Capital Expenditure, US$ mil, Q4, 2014-Q4, 2015 13 Figure 5: Noble Energy, Inc., Total Crude Oil and Natural Gas, Production, mmboe, Q4, 2014-Q4, 2015 14 Figure 6: Noble Energy, Inc., Total Oil & Gas Production, By Country/Region, mmboe, Q4, 2014-Q4, 2015 15 Figure 7: Noble Energy, Inc., Total Crude Oil Production, mmbbl, Q4, 2014-Q4, 2015 16 Figure 8: Noble Energy, Inc., Crude Oil Production, By Country/Region, mmbbl, Q4, 2014-Q4, 2015 17 Figure 9: Noble Energy, Inc., Total Natural Gas Production, bcf, Q4, 2014-Q4, 2015 18 Figure 10: Noble Energy, Inc., Natural Gas Production, By Country/Region, bcf, Q4, 2014-Q4, 2015 19 Figure 11: Noble Energy, Inc., Share Price Performance, USD/Share, 2011-2015 20 Figure 12: Noble Energy, Inc., Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve (US$/boe), 2011-2015 21 Figure 13: Noble Energy, Inc., Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2011-2015 22 Figure 14: Noble Energy, Inc., Total Oil & Gas Reserves, End of Period, By Country/Region, mmboe, 2011-2015 24 Figure 15: Noble Energy, Inc., Total Oil & Gas Production, By Country/Region, mmboe, 2011-2015 24 Figure 16: Noble Energy, Inc., Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2015 26 Figure 17: Noble Energy, Inc., Crude Oil Production and Reserves Metrics, mmbbl, 2011-2015 27 Figure 18: Noble Energy, Inc., Oil Reserves, End of Period, By Country/Region, mmbbl, 2011-2015 28 Figure 19: Noble Energy, Inc., Oil Production, By Country/Region, mmbbl, 2011-2015 28 Figure 20: Noble Energy, Inc., Crude Oil Reserve Changes, mmbbl, 2015 30 Figure 21: Noble Energy, Inc., Natural Gas Production and Reserves Metrics, bcf, 2011-2015 31 Figure 22: Noble Energy, Inc., Gas Reserves, End of Period, By Country/Region, bcf, 2011-2015 32 Figure 23: Noble Energy, Inc., Gas Production, By Country/Region, bcf, 2011-2015 32 Figure 24: Noble Energy, Inc., Natural Gas Reserve Changes, bcf, 2015 34 Figure 25: Noble Energy, Inc., Oil and Gas Reserves Life Index, Years, 2011-2015 35 Figure 26: Noble Energy, Inc., Gas Reserve Life Index, By Country/Region, Years, 2011-2015 36 Figure 27: Noble Energy, Inc., Oil & Gas Reserve Life Index, By Country/Region, Years, 2011-2015 36 Figure 28: Noble Energy, Inc., Oil Reserve Life Index, By Country/Region, Years, 2011-2015 37 Figure 29: Noble Energy, Inc., Upstream Capital Expenditure, US$ mil, 2011-2015 38 Figure 30: Noble Energy, Inc., Proved Acquisition Costs, By Country/Region, US$ mil, 2011-2015 39 Figure 31: Noble Energy, Inc., Unproved Acquisition Costs, By Country/Region, US$ mil, 2011-2015 39 Figure 32: Noble Energy, Inc., Development Costs, By Country/Region, US$ mil, 2011-2015 41 Figure 33: Noble Energy, Inc., Exploration Costs, By Country/Region, US$ mil, 2011-2015 41 Figure 34: Noble Energy, Inc., 3-Year Wt.Avg., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2011-2015 43 Figure 35: Noble Energy, Inc., Oil & Gas Finding & Development Cost/boe, 3-Year Average, By Country/Region, US$/boe, 2011-2015 45 Figure 36: Noble Energy, Inc., Oil & Gas Finding Cost per boe, 3-Year Average, By Country/Region, US$/boe, 2011-2015 45 Figure 37: Noble Energy, Inc., Reserve Replacement Cost per boe, 3-Year Average, By Country/Region, US$/boe, 2011-2015 46 Figure 38: Noble Energy, Inc., 3-Year Wt.Avg., Oil and Gas Production Replacement Ratio, %, 2011-2015 47 Figure 39: Noble Energy, Inc., 3-Year Wt. Avg. Gas F&D Production Replacement, By Country/Region, %, 2011-2015 49 Figure 40: Noble Energy, Inc., 3-Year Wt. Avg. Gas RRC Production Replacement, By Country/Region, %, 2011-2015 49 Figure 41: Noble Energy, Inc., 3-Year Wt. Avg. Oil & Gas F&D Production Replacement, By Country/Region, %, 2011-2015 50 Figure 42: Noble Energy, Inc., 3-Year Wt. Avg. Oil & Gas RRC Production Replacement, By Country/Region, %, 2011-2015 50 Figure 43: Noble Energy, Inc., 3-Year Wt. Avg. Oil F&D Production Replacement, By Country/Region, %, 2011-2015 51 Figure 44: Noble Energy, Inc., 3-Year Wt. Avg. Oil RRC Production Replacement, By Country/Region, %, 2011-2015 51 Figure 45: Noble Energy, Inc., Revenue and Expenses, US$ mil, 2011-2015 53 Figure 46: Noble Energy, Inc., Depreciation, Depletion and Amortization From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 54 Figure 47: Noble Energy, Inc., Exploration Expenses, By Country/Region, US$ mil, 2011-2015 54 Figure 48: Noble Energy, Inc., Income Tax Provision (Benefit) From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 55 Figure 49: Noble Energy, Inc., Net Income/ Loss From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 55 Figure 50: Noble Energy, Inc., Oil & Gas Revenue, By Country/Region, US$ mil, 2011-2015 56 Figure 51: Noble Energy, Inc., Profit (loss) Before Taxation From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 56 Figure 52: Noble Energy, Inc., Production Costs, By Country/Region, US$ mil, 2011-2015 57 Figure 53: Noble Energy, Inc., Total Expenses From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 57 Figure 54: Noble Energy, Inc., Oil and Gas Revenue and Expenses, US$/boe, 2011-2015 60 Figure 55: Noble Energy, Inc., Exploration Expenses per boe, By Country/Region, US$/boe, 2011-2015 61 Figure 56: Noble Energy, Inc., Income Tax/(Benefit) per boe, By Country/Region, US$/boe, 2011-2015 61 Figure 57: Noble Energy, Inc., Lifting Cost per boe, By Country/Region, US$/boe, 2011-2015 62 Figure 58: Noble Energy, Inc., Annual Net Income per boe, By Country/Region, US$/boe, 2011-2015 62 Figure 59: Noble Energy, Inc., Oil & Gas Revenue per boe, By Country/Region, US$/boe, 2011-2015 63 Figure 60: Noble Energy, Inc., Total DD&A per boe, By Country/Region, US$/boe, 2011-2015 63 Figure 61: Noble Energy, Inc., Total Revenue per boe, By Country/Region, US$/boe, 2011-2015 64 Figure 62: Noble Energy, Inc., Oil and Gas Performance Metrics, 2011-2015 66 Figure 63: Noble Energy, Inc., Land Holdings (Developed and Undeveloped Acreage), Acres, 2011-2015 67 Figure 64: Noble Energy, Inc., Total Gross Undeveloped Acreage, By Country/Region, Acres, 2011-2015 68 Figure 65: Noble Energy, Inc., Total Net Undeveloped Acreage, By Country/Region, Acres, 2011-2015 68 Figure 66: Noble Energy, Inc., Total Gross Developed Acreage, By Country/Region, Acres, 2011-2015 69 Figure 67: Noble Energy, Inc., Total Net Developed Acreage, By Country/Region, Acres, 2011-2015 69 Figure 68: Noble Energy, Inc., Producible Oil and Gas Wells, 2011-2015 72 Figure 69: Noble Energy, Inc., Gross Productive Gas Wells, By Country/Region, Number, 2011-2015 73 Figure 70: Noble Energy, Inc., Gross Productive Oil & Gas Wells, By Country/Region, Number, 2011-2015 73 Figure 71: Noble Energy, Inc., Gross Productive Oil Wells, By Country/Region, Number, 2011-2015 74 Figure 72: Noble Energy, Inc., Net/Gross Oil & Gas Ratio, By Country/Region, %, 2011-2015 74 Figure 73: Noble Energy, Inc., Net Productive Gas Wells, By Country/Region, Number, 2011-2015 75 Figure 74: Noble Energy, Inc., Net Productive Oil & Gas Wells, By Country/Region, Number, 2011-2015 75 Figure 75: Noble Energy, Inc., Net Productive Oil Wells, By Country/Region, Number, 2011-2015 76 Figure 76: Noble Energy, Inc., Exploratory and Developed Wells, 2011-2015 78