Noble Energy Inc. (NBL) was apparently the highest bidder on 16 deepwater lease blocks in the Central Gulf of Mexico Lease Sale 213. Noble Energy’s share of the lease bonuses on its bids totaled approximately $37.7 million.
The company partnered another on one of the high bids and bid alone on the remainder. The blocks cover over 82,500 net acres in water depths up to 7,800 feet. Noble Energy’s total acreage position in the deepwater Gulf of Mexico, focusing mainly on the Green Canyon and Mississippi Canyon areas, will expand to over 472,500 net acres.
The lease sale continues to build upon the company’s attractive exploration inventory in the deepwater Gulf of Mexico.
Noble Energy, based in Houston, Texas, is an independent oil and gas exploration and production (E&P) company. The company controls a well-balanced portfolio of high-quality oil and gas properties across the U.S. and several international locations. In the U.S., the onshore assets provide stable performance and the offshore assets in the deepwater Gulf of Mexico offer significant growth opportunities in the medium to long-term.
Noble’s international operations, with core positions in Equatorial Guinea and Israel, are a source of low-cost, long-term production base; do not require huge maintenance capital; and diversify the overall portfolio.
Noble’s high-grade hydrocarbon portfolio, brilliant execution capability and competitive cost structure reflect a visible upside over the long run. It maintains a disciplined investment approach and a strong balance sheet with sufficient liquidity and financial flexibility. Going forward, the ongoing major development projects in deepwater Gulf of Mexico, Equatorial Guinea and Israel will create substantial value for the shareholders.
Read the full analyst report on “NBL”
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