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 September 30, 2009
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||||||||||||
Crude
Oil
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Natural
Gas
|
Total
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||||||||||
(in
millions)
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||||||||||||
Cash
received on settlements, net
|
$ | 36 | $ | 71 | $ | 107 | ||||||
Settlement
of deferred losses previously recorded in AOCL
|
14 | - | 14 | |||||||||
Realized
MTM gain, net
|
50 | 71 | 121 | |||||||||
Unrealized
MTM loss, net
|
(34 | ) | (115 | ) | (149 | ) | ||||||
(Loss)
gain on commodity derivative instruments
|
$ | 16 | $ | (44 | ) | $ | (28 | ) | ||||
Nine
Months Ended September 30, 2009
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||||||||||||
Crude
Oil
|
Natural
Gas
|
Total
|
||||||||||
(in
millions)
|
||||||||||||
Cash
received on settlements, net
|
$ | 167 | $ | 201 | $ | 368 | ||||||
Settlement
of deferred losses previously recorded in AOCL
|
45 | - | 45 | |||||||||
Realized
MTM gain, net
|
212 | 201 | 413 | |||||||||
Unrealized
MTM loss, net
|
(305 | ) | (203 | ) | (508 | ) | ||||||
(Loss)
gain on commodity derivative instruments
|
$ | (93 | ) | $ | (2 | ) | $ | (95 | ) |
Variable
to Fixed Price Swaps
|
Collars
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||||||||||||||||||||
Weighted
|
Weighted
|
Weighted
|
|||||||||||||||||||
Production
|
Bbls
|
Average
|
Bbls
|
Average
|
Average
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||||||||||||||||
Period
|
Index
|
Per
Day
|
Fixed
Price
|
Index
|
Per
Day
|
Floor
Price
|
Ceiling
Price
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||||||||||||||
4th
Qtr 2009
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NYMEX
WTI
|
9,000 | $ | 88.43 |
NYMEX
WTI
|
6,700 | $ | 79.70 | $ | 90.60 | |||||||||||
4th
Qtr 2009
|
Dated
Brent
|
2,000 | 87.98 |
Dated
Brent
|
4,848 | 71.82 | 88.66 | ||||||||||||||
4th
Qtr 2009 Average
|
11,000 | 88.35 | 11,548 | 76.39 | 89.79 | ||||||||||||||||
2010
|
- | - | - |
NYMEX
WTI
|
14,500 | 61.48 | 75.63 | ||||||||||||||
2010
|
Dated
Brent
|
1,000 | 80.05 |
Dated
Brent
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7,000 | 64.00 | 73.96 | ||||||||||||||
2010
Average
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1,000 | 80.05 | 21,500 | 62.30 | 75.09 | ||||||||||||||||
2011
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- | - | - |
NYMEX
WTI
|
1,000 | 70.00 | 82.40 |
Variable
to Fixed Price Swaps
|
Collars
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||||||||||||||||||||
Weighted
|
Weighted
|
Weighted
|
|||||||||||||||||||
Production
|
MMBtu
|
Average
|
MMBtu
|
Average
|
Average
|
||||||||||||||||
Period
|
Index
|
Per
Day
|
Fixed
Price
|
Index
|
Per
Day
|
Floor
Price
|
Ceiling
Price
|
||||||||||||||
4th
Qtr 2009
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- | - | - |
NYMEX
HH (1)
|
170,000 | $ | 9.15 | $ | 10.81 | ||||||||||||
4th
Qtr 2009
|
- | - | - |
IFERC
CIG (2)
|
15,000 | 6.00 | 9.90 | ||||||||||||||
4th
Qtr 2009 Average
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- | - | 185,000 | 8.90 | 10.73 | ||||||||||||||||
2010
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NYMEX
HH
|
20,000 | 6.10 |
NYMEX
HH
|
210,000 | 5.90 | 6.73 | ||||||||||||||
2010
|
- | - | - |
IFERC
CIG
|
15,000 | 6.25 | 8.10 | ||||||||||||||
2010
Average
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20,000 | 6.10 | 225,000 | 5.93 | 6.82 | ||||||||||||||||
2011
|
- | - | - |
NYMEX
HH
|
140,000 | 5.95 | 6.82 |
Basis
Swaps
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|||||||||||
Weighted
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|||||||||||
Production
|
Index
Less
|
MMBtu
|
Average
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||||||||
Period
|
Index
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Differential
|
Per
Day
|
Differential
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|||||||
4th
Qtr 2009
|
IFERC
CIG
|
NYMEX
HH
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140,000 | $ | (2.49 | ) | |||||
2010
|
IFERC
CIG
|
NYMEX
HH
|
100,000 | (1.60 | ) | ||||||
2011
|
IFERC
CIG
|
NYMEX
HH
|
80,000 | (0.84 | ) |
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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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·
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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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·
|
exploration
and development risks;
|
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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:
October 15, 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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