Delaware
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001-07964
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73-0785597
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(State
or other jurisdiction of
incorporation
or organization)
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Commission
File
Number
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(I.R.S.
Employer
Identification
No.)
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100
Glenborough Drive, Suite 100
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||||
Houston,
Texas
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77067
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|||
(Address
of principal executive offices)
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(Zip
Code)
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o
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
|
|
o
|
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
|
|
o
|
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR 240.14d-2(b))
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|
o
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR 240.13e-4(c))
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Three
Months Ended June 30, 2009
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||||||||||||
Crude
Oil
|
Natural
Gas
|
Total
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||||||||||
(in
millions)
|
||||||||||||
Cash
received on settlements
|
$ | 51 | $ | 72 | $ | 123 | ||||||
Settlement
of deferred losses previously recorded in AOCL
|
15 | - | 15 | |||||||||
Realized
MTM gain, net
|
66 | 72 | 138 | |||||||||
Unrealized
MTM loss, net
|
(189 | ) | (88 | ) | (277 | ) | ||||||
(Loss)
gain on commodity derivative instruments
|
$ | (123 | ) | $ | (16 | ) | $ | (139 | ) | |||
Six
Months Ended June 30, 2009
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||||||||||||
Crude
Oil
|
Natural
Gas
|
Total
|
||||||||||
(in
millions)
|
||||||||||||
Cash
received on settlements
|
$ | 130 | $ | 130 | $ | 260 | ||||||
Settlement
of deferred losses previously recorded in AOCL
|
32 | - | 32 | |||||||||
Realized
MTM gain, net
|
162 | 130 | 292 | |||||||||
Unrealized
MTM loss, net
|
(271 | ) | (87 | ) | (358 | ) | ||||||
(Loss)
gain on commodity derivative instruments
|
$ | (109 | ) | $ | 43 | $ | (66 | ) |
Variable to
Fixed Price
Swaps
|
Collars
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|||||||||||||||||||
Production
Period
|
Index
|
Bbls
Per Day
|
Weighted
Average
Fixed Price
|
Index
|
Bbls
Per Day
|
Weighted
Average
Floor Price
|
Weighted
Average
Ceiling Price
|
|||||||||||||
2009
|
NYMEX
WTI
|
9,000 | $ | 88.43 |
NYMEX
WTI
|
6,700 | $ | 79.70 | $ | 90.60 | ||||||||||
2009
|
Dated
Brent
|
2,000 | 87.98 |
Dated
Brent
|
4,924 | 71.40 | 88.36 | |||||||||||||
2009
Average
|
11,000 | 88.35 | 11,624 | 76.19 | 89.65 | |||||||||||||||
2010
|
NYMEX
WTI
|
14,500 | 61.48 | 75.63 | ||||||||||||||||
2010
|
Dated
Brent
|
6,000 | 63.83 | 73.79 | ||||||||||||||||
2010 Average | 20,500 | 62.17 | 75.10 |
Collars
|
||||||||||||
Production
Period
|
Index
|
MMBtu
Per
Day
|
Weighted
Average
Floor
Price
|
Weighted
Average
Ceiling
Price
|
||||||||
2009
|
NYMEX
HH
|
170,000 | $ | 9.15 | $ | 10.81 | ||||||
2009
|
IFERC
CIG
|
15,000 | 6.00 | 9.90 | ||||||||
2009
Average
|
185,000 | 8.90 | 10.73 | |||||||||
2010
|
NYMEX
HH
|
160,000 | 5.88 | 6.84 | ||||||||
2010
|
IFERC
CIG
|
15,000 | 6.25 | 8.10 | ||||||||
2010
Average
|
175,000 | 5.91 | 6.95 | |||||||||
2011
|
NYMEX
HH
|
90,000 | 5.92 | 7.04 | ||||||||
Basis
Swaps
|
||||||||||||
Production
Period
|
Index
|
Index
Less
Differential
|
MMBtu
Per
Day
|
Weighted
Average
Differential
|
||||||||
2009
|
IFERC
CIG
|
NYMEX
HH
|
140,000 | $ | (2.49 | ) | ||||||
2010
|
IFERC
CIG
|
NYMEX
HH
|
90,000 | (1.68 | ) |
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·
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the
timing and extent of changes in commodity prices for natural gas, crude
oil and related products, foreign currency exchange rates, interest rates
and financial market conditions;
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·
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the
extent and effect of any hedging activities engaged in by
us;
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·
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our
liquidity and ability to finance our exploration and development
activities;
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·
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changes
in plans with respect to exploration or development projects or capital
expenditures;
|
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·
|
the
supply and demand for oil, natural gas and other products or
services;
|
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·
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the
presence or recoverability of estimated
reserves;
|
|
·
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our
ability to replace reserves;
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·
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exploration
and development risks;
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·
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drilling
and operating risks;
|
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·
|
environmental
risks;
|
|
·
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government
regulation or other action; and
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·
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the
ability of management to execute its plans to meet its
goals.
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NOBLE
ENERGY, INC.
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Date:
July 16, 2009
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By:
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/s/
Frederick B. Bruning
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Frederick
B. Bruning
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||||
Vice
President and Chief Accounting Officer
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