Noble Energy plans $3.9bn 2013 spend

Noble capex: Company plans $3.9 billion exploration programme

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Kathrine Schmidt

 06 December 2012 17:52 GMT

Noble Energy said on Thursday it would invest $3.9 billion in 2013 on an “aggressive” exploration and development program with emphasis on US onshore but also covering international and deepwater targets.

Of the budget, an increase from the $3.5 billion in 2012, 60% will be assigned to US land operations, 6% to the Gulf of Mexico, 15% to West Africa and 10% to the eastern Mediterranean.

Also on tap will be exploration ventures in Nevada, the Falklands and Nicaragua.

As a result, the company expects 2013 output to average between 270,000 and 282,000 barrels of oil equivalent per day, a 23% increase in crude-oil and condensate production and 16% in natural gas compared to 2012 average volumes.

Noble is directing $1.7 billion to the…

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