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
|
||||
Houston,
Texas
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77067
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|||
(Address
of principal executive offices)
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(Zip
Code)
|
o
|
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))
|
o
|
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR 240.13e-4(c))
|
Three
Months Ended December 31, 2009
|
||||||||||||
Crude
Oil
|
Natural
Gas
|
Total
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||||||||||
(in
millions)
|
||||||||||||
Cash
received on settlements, net
|
$ | 22 | $ | 49 | $ | 71 | ||||||
Settlement
of deferred losses previously recorded in AOCL
|
12 | - | 12 | |||||||||
Realized
MTM gain, net
|
34 | 49 | 83 | |||||||||
Unrealized
MTM loss, net
|
(96 | ) | (3 | ) | (99 | ) | ||||||
(Loss)
gain on commodity derivative instruments
|
$ | (62 | ) | $ | 46 | $ | (16 | ) | ||||
Year
Ended December 31, 2009
|
||||||||||||
Crude
Oil
|
Natural
Gas
|
Total
|
||||||||||
(in
millions)
|
||||||||||||
Cash
received on settlements, net
|
$ | 188 | $ | 250 | $ | 438 | ||||||
Settlement
of deferred losses previously recorded in AOCL
|
58 | - | 58 | |||||||||
Realized
MTM gain, net
|
246 | 250 | 496 | |||||||||
Unrealized
MTM loss, net
|
(401 | ) | (205 | ) | (606 | ) | ||||||
(Loss)
gain on commodity derivative instruments
|
$ | (155 | ) | $ | 45 | $ | (110 | ) |
Variable
to Fixed Price Swaps
|
Collars
|
||||||||||||||||||||||
Weighted
|
Weighted
|
Weighted
|
|||||||||||||||||||||
Production
|
Bbls
|
Average
|
Bbls
|
Average
|
Average
|
||||||||||||||||||
Period
|
Index
|
Per
Day
|
Fixed
Price
|
Index
|
Per
Day
|
Floor
Price
|
Ceiling
Price
|
||||||||||||||||
2010
|
NYMEX
WTI (1)
|
1,000 | $ | 78.70 |
NYMEX
WTI
|
14,500 | $ | 61.48 | $ | 75.63 | |||||||||||||
2010
|
Dated
Brent
|
1,000 | 80.05 |
Dated
Brent
|
7,000 | 64.00 | 73.96 | ||||||||||||||||
2010
Average
|
2,000 | 79.38 | 21,500 | 62.30 | 75.09 | ||||||||||||||||||
2011
|
-
|
- | - |
NYMEX
WTI
|
6,000 | 79.00 | 87.42 |
Variable
to Fixed Price Swaps
|
Collars
|
||||||||||||||||||||
Weighted
|
Weighted
|
Weighted
|
|||||||||||||||||||
Production
|
MMBtu
|
Average
|
MMBtu
|
Average
|
Average
|
||||||||||||||||
Period
|
Index
|
Per
Day
|
Fixed
Price
|
Index
|
Per
Day
|
Floor
Price
|
Ceiling
Price
|
||||||||||||||
2010
|
NYMEX
HH (1)
|
20,000 | $ | 6.10 |
NYMEX
HH
|
210,000 | $ | 5.90 | $ | 6.73 | |||||||||||
2010
|
- | - | - |
IFERC
CIG (2)
|
15,000 | 6.25 | 8.10 | ||||||||||||||
2010
Average
|
20,000 | 6.10 | 225,000 | 5.93 | 6.82 | ||||||||||||||||
2011
|
- | - | - |
NYMEX
HH
|
140,000 | 5.95 | 6.82 |
Basis
Swaps
|
|||||||||||
Weighted
|
|||||||||||
Production
|
Index
Less
|
MMBtu
|
Average
|
||||||||
Period
|
Index
|
Differential
|
Per
Day
|
Differential
|
|||||||
2010
|
IFERC
CIG
|
NYMEX
HH
|
100,000 | $ | (1.60 | ) | |||||
2011
|
IFERC
CIG
|
NYMEX
HH
|
110,000 | (0.76 | ) |
·
|
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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the
extent and effect of any hedging activities engaged in by
us;
|
·
|
our
liquidity and ability to finance our exploration and development
activities;
|
·
|
changes
in plans with respect to exploration or development projects or capital
expenditures;
|
·
|
the
supply and demand for oil, natural gas and other products or
services;
|
·
|
the
presence or recoverability of estimated
reserves;
|
·
|
our
ability to replace reserves;
|
·
|
exploration
and development risks;
|
·
|
drilling
and operating risks;
|
·
|
environmental
risks;
|
·
|
government
regulation or other action; and
|
·
|
the
ability of management to execute its plans to meet its
goals.
|
NOBLE
ENERGY, INC.
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||||
Date:
January 14, 2010
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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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