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| '''Noble Energy, Inc.''' of ], ], |
'''Noble Energy, Inc.''' of ], ], United States is the modern name of '''Noble Affiliates Inc.''', by which it was known through the 1990s, and it is now an oil and natural gas exploration and production company with almost US$3 billion in revenue at #660 on the 2007 ] list of the largest American companies. | ||
| In 1985, Noble Affiliates spun off its subsidiary ] to shareholders, and that company in turn went public by the early 1990s, and then became ], an ] company.<ref name="nobleenergyhist">, Noble Energy.com</ref> | In 1985, Noble Affiliates spun off its subsidiary ] to shareholders, and that company in turn went public by the early 1990s, and then became ], an ] company.<ref name="nobleenergyhist">, Noble Energy.com</ref> | ||
| In |
In South America, the company operates in ] and ]. In Africa, Noble Energy operates in ] and ]. It operates in the ], in ] and ]. It also has an office in China.<ref name="nobleenergyhist"/> | ||
| Noble was headquartered in the ] district up till 2012. As of 2013 the Headquarters are located at 1001 Noble Energy Way (at the intersection of ] and ]) adjacent to the ]. The ] offices are still operational and will be gradually moved to the new Headquarters. The move is expected to be finalized in 2015.<!--Cited below--> | Noble was headquartered in the ] district up till 2012. As of 2013 the Headquarters are located at 1001 Noble Energy Way (at the intersection of ] and ]) adjacent to the ]. The ] offices are still operational and will be gradually moved to the new Headquarters. The move is expected to be finalized in 2015.<!--Cited below--> | ||
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| {{See also|Block 12|Leviathan gas field|Tamar gas field}} | {{See also|Block 12|Leviathan gas field|Tamar gas field}} | ||
| In May 2010, Noble Energy, Inc., operator of the Deep Blue exploration well on Green Canyon 723 in the deepwater Gulf of Mexico, reached a depth of 32,684 feet.<ref> PR Newswire |
In May 2010, Noble Energy, Inc., operator of the Deep Blue exploration well on Green Canyon 723 in the deepwater Gulf of Mexico, reached a depth of 32,684 feet.<ref> PR Newswire May 11, 2010</ref> The well found potential hydrocarbon reserves in multiple Miocene intervals. Noble announced plans to sidetrack the well to determine the extent and commerciality of the hydrocarbon pay zones encountered.<ref>, Rigzone.com, May 10, 2010</ref> | ||
| Noble has major holdings in the ] of Colorado. The company drilled approximately 200 horizontal wells in the field in 2012.<ref>Noble Energy, , accessed |
Noble has major holdings in the ] of Colorado. The company drilled approximately 200 horizontal wells in the field in 2012.<ref>Noble Energy, , accessed May 12, 2013.</ref> | ||
| ==References== | ==References== | ||
Revision as of 06:17, 2 July 2015
For the contract drilling company, see Noble Corporation.
| File:NobleEnergyLogo.png | |
| Company type | Public |
|---|---|
| Traded as | NYSE: NBL S&P 500 Component |
| Industry | Oil and gas industry |
| Founded | 1932 (1932) |
| Headquarters | Houston, Texas, United States |
| Key people | Charles D. Davidson, Chairman, CEO, & President |
| Revenue |  US$3.272 billion (2007) |
| Operating income | US$1.529 billion (2007) |
| Net income | US$944 million (2007) |
| Website | www |
Noble Energy, Inc. of Houston, Texas, United States is the modern name of Noble Affiliates Inc., by which it was known through the 1990s, and it is now an oil and natural gas exploration and production company with almost US$3 billion in revenue at #660 on the 2007 Fortune 1000 list of the largest American companies.
In 1985, Noble Affiliates spun off its subsidiary Noble Drilling Corporation to shareholders, and that company in turn went public by the early 1990s, and then became Noble Corporation, an S&P 500 company.
In South America, the company operates in Argentina and Nicaragua. In Africa, Noble Energy operates in Equatorial Guinea and Cameroon. It operates in the Mediterranean Sea, in Israel and Cyprus. It also has an office in China.
Noble was headquartered in the Greenspoint district up till 2012. As of 2013 the Headquarters are located at 1001 Noble Energy Way (at the intersection of Texas State Highway 249 and Louetta Road) adjacent to the Lone Star College-University Park. The Greenspoint offices are still operational and will be gradually moved to the new Headquarters. The move is expected to be finalized in 2015.
History
In 1932 Noble Energy, Inc. began as Samedan Oil Corporation in southern Oklahoma, an explorer of crude oil and natural gas founded by Lloyd Noble, in Ardmore, Oklahoma.
By the 1970s, the company became a parent holding company named Noble Affiliates Inc., with three subsidiary business lines, the original oil and gas explorer Samedan Oil Corporation, a drilling company Noble Drilling Corporation, and a trucking company B. F. Walker.
In 1972, Noble Affiliates first became publicly traded.
Noble Affiliates was among the first independent producers to explore offshore in the Gulf of Mexico, where it also operates onshore.
In 1980, Noble Affiliates was first listed on the New York Stock Exchange with the ticker symbol NBL.
Throughout the long bear market of the 1970s, Noble Affiliates did extremely well, as its stock price multiplied by over 29 times from its low, and split two-for-one in 1981. It had begun paying a cash dividend to shareholders in 1975, which it has continued for every year since. It earned nearly US$82 million in 1981, although it carried a long-term debt of nearly US$100 million by then. But as the early 1980s progressed, the stock settled back down to half of its earlier record peak price, as earnings steadily declined each year, until by 1985 the company was operating at a loss.
In cost-saving measures, in 1984, Noble Affiliates sold the B. F. Walker trucking company, and in 1985 it spun off Noble Drilling Corporation to shareholders.
In 1986, Noble Affiliates reached a peak loss for that decade, of over US$63 million, and long-term debt had grown by then to US$285 million. The stock price plunged to less than 25% of its 1970s peak price.
However, by 1987, the company had recovered to marginal profitability of US$6 million, and the stock price nearly doubled off its lows of the prior year.
In the late 1980s Noble Affiliates raised some cash by issuing an additional 15% of its common shares outstanding in its struggle to remain profitable and to keep debt down. By 1995, the long-term debt had grown to nearly US$380 million, but the company had grown enough that it was added to the S&P MidCap 400 index by then. Earnings had fared well through the 1990-1991 recession, but were again in decline after, so that by 1995 the company was again facing a marginal loss. The stock price nearly set a new all-time high in 1994, but by the end of 1995 it was still trading at one third below its 1970s peak price.
In 1996, Noble Affiliates stock finally reached an all-time high, for the first time in well over a decade, although earnings remained marginal and still in the low millions for those years of the mid-1990s.
In October 2000, Charles Davidson became president and CEO of Noble Affiliates, Inc. Also that month the company moved from Ardmore, Oklahoma to Houston, Texas.
By April 2002 Noble Affiliates, Inc. had diversified into methanol production, and changed its name to Noble Energy, Inc.
By 2004, Noble Energy's reserves, including offshore, had grown over fourfold since the late 1970s. It also discovered the major Mari-B reserve in offshore Israel, that country's first significant hydrocarbon resource.
Corporate buildings
Noble was headquartered in the Northborough Tower at 100 Glenborough Drive in the Greenspoint district in Houston.
In 2012 Noble announced that it was consolidating its headquarters and two other Greater Houston offices into a 10 story building on the former Compaq headquarters property in unincorporated Harris County, Texas. Noble Energy plans to lease space in this building. A joint venture controlled by Trammell Crow and Principal Real Estate had purchased that building in June 2010. Previously Hewlett-Packard had owned the building. It has 497,000 square feet (46,200 m) of space, and it also has a 25,000 square feet (2,300 m) floor plate. The building, completed in 1998, is at the intersection of Texas State Highway 249 and Louetta Road and is adjacent to The Vintage mixed-use development. The Kirksey architecture firm had designed the interiors. The building became operational in 2013 and the street it is located on was officially renamed "Noble Energy Way", which is also the company's credo. The building itself is 1001 Noble Energy Way, Houston, TX 77070.
Current operations
See also: Block 12, Leviathan gas field, and Tamar gas fieldIn May 2010, Noble Energy, Inc., operator of the Deep Blue exploration well on Green Canyon 723 in the deepwater Gulf of Mexico, reached a depth of 32,684 feet. The well found potential hydrocarbon reserves in multiple Miocene intervals. Noble announced plans to sidetrack the well to determine the extent and commerciality of the hydrocarbon pay zones encountered.
Noble has major holdings in the Wattenberg Gas Field of Colorado. The company drilled approximately 200 horizontal wells in the field in 2012.
References
- ^ Noble Energy, History, Noble Energy.com
- ^ Standard & Poor's Stock Guide, various issues
- "Northborough Tower." Transwestern. Retrieved on January 12, 2009.
- "Boundary Map." Greenspoint Management District. December 13, 2007.
- "Contact Us." Noble Energy. Retrieved on May 19, 2010.
- ^ "Noble Energy to move HQ to former HP building." Houston Business Journal. January 20, 2012. Retrieved on January 22, 2012.
- ^ Sarnoff, Nancy. "Houston Energy firm leases old HP building." Houston Chronicle. January 20, 2012. Retrieved on January 22, 2012.
- ^ "Former Houston HP buildings set for redevelopment." Houston Business Journal. Tuesday June 14, 2011. Last modified Friday June 17, 2011. Retrieved on January 22, 2012.
- Noble Energy Announces Status of Deep Blue Exploration Well PR Newswire May 11, 2010
- Noble Energy Updates On Deep Blue Exploration Well, Rigzone.com, May 10, 2010
- Noble Energy, D-J Basin, accessed May 12, 2013.
