8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): February 18, 2010

NOBLE ENERGY, INC.

(Exact name of Registrant as specified in its charter)

Delaware (State or other jurisdiction of incorporation or organization)	001-07964 Commission File Number	73-0785597 (I.R.S. Employer Identification No.)
100 Glenborough, Suite 100 Houston, Texas (Address of principal executive offices)		77067 (Zip Code)

Registrant’s telephone number, including area code: (281) 872-3100

(Former name, former address and former fiscal year, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

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))

Item 2.02. Results of Operations and Financial Condition.

     On February 18, 2010 Noble Energy, Inc. (the “Company”) issued a press release announcing results for the fiscal year and fiscal quarter ended December 31, 2009. A copy of the press release issued by the Company is attached hereto as Exhibit 99.1.

     The Company’s press release announcing its financial results for the fiscal year and fiscal quarter ended December 31, 2009 contains non-GAAP financial measures. Generally, a non-GAAP financial measure is a numerical measure of a company’s performance, financial position, or cash flows that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with United States generally accepted accounting principles, or GAAP. Pursuant to the requirements of Regulation G, the Company has provided quantitative reconciliations within the press release of the non-GAAP financial measures to the most directly comparable GAAP financial measures.

     The information in this Form 8-K and Exhibit 99.1 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to liabilities of that Section.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits. The following exhibit is furnished as part of this report on Form 8-K:

99.1 Press Release dated February 18, 2010 announcing results for the fiscal year and fiscal quarter ended December 31, 2009.

SIGNATURE

     Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	NOBLE ENERGY, INC.
Date: February 18, 2010	By:	/s/ Arnold J. Johnson
		Arnold J. Johnson
		Senior Vice President, General Counsel & Secretary

INDEX TO EXHIBITS

Exhibit No.	Description
99.1	Press Release dated February 18, 2010 announcing results for the fiscal year and fiscal quarter ended December 31, 2009.

EX-99.1

Exhibit 99.1

NEWS RELEASE

NOBLE ENERGY ANNOUNCES FOURTH QUARTER
AND FULL YEAR 2009 RESULTS

HOUSTON (February 18, 2010) — Noble Energy, Inc. (NYSE: NBL) reported today fourth quarter 2009 net income of $8 million, or $0.05 per share diluted, on revenues of $760 million. Net income for the quarter was lowered by items totaling $170 million after-tax, including unrealized commodity derivative losses and identified asset impairments, offset by the recording of recoverable deepwater Gulf of Mexico royalties. Excluding these items, which are typically not considered by analysts in published estimates, fourth quarter 2009 adjusted net income⁽¹⁾ was $178 million, or $1.01 per share diluted. For the fourth quarter of 2008, net income was $305 million, or $1.72 per share diluted, on revenues of $573 million. Adjusted net income⁽¹⁾ for the fourth quarter of 2008 was $163 million, or $0.91 per share diluted.

Discretionary cash flow⁽¹⁾ for the fourth quarter 2009 was $477 million, compared to $439 million for the similar quarter in 2008. Net cash provided by operating activities was $522 million and capital expenditures were $384 million⁽²⁾.

Key highlights for the fourth quarter 2009 include:

• Successful new completion at the Swordfish field in the deepwater Gulf of Mexico

• Spud Deep Blue and Double Mountain exploration tests in the deepwater Gulf of Mexico

• Announced DJ Basin asset acquisition which will expand the Company’s largest onshore U.S. property at Wattenberg

• Executed two Letters of Intent to sell natural gas from Tamar offshore Israel with expected gross revenues over $10 billion

• Completed field optimization efforts at Dumbarton and brought online the first well at Lochranza in the North Sea

For the full year 2009, Noble Energy reported a net loss of ($131) million, or ($0.75) per share diluted. Adjusted net income⁽¹⁾ for 2009 was $590 million, or $3.37 per share diluted. Discretionary cash

flow⁽¹⁾ for the year was $1.69 billion and net cash provided by operating activities was $1.51 billion. Capital expenditures for the year totaled $1.32 billion⁽²⁾.

Charles D. Davidson, Noble Energy’s Chairman and CEO, said, “Our results for the fourth quarter wrap up a strong year for Noble Energy. Despite reduced investment in U.S. onshore natural gas development, we were still able to grow our annual onshore volumes. We again generated free cash flow in 2009, largely attributable to our disciplined capital allocation process and diverse asset portfolio. It was perhaps the most successful exploration year in our Company’s history, and we continued to build upon our large inventory of opportunities. Substantial progress was made for long-term growth, as we sanctioned the Galapagos and Aseng oil projects and signed LOIs for first sales from Tamar. As we look forward into a new decade, we are focused on maintaining our strong production base, executing on our major projects, and continuing an impactful exploration program.”

Total sales volumes for the fourth quarter 2009 averaged 206 thousand barrels of oil equivalent per day. In the United States, natural gas volumes were lower than the fourth quarter of 2008 due primarily to declines in the Mid-Continent region. Crude oil and condensate volumes were higher mostly due to the impact of Ticonderoga in the deepwater Gulf of Mexico returning to full production earlier in 2009. Lower oil volumes in the North Sea resulted from the FPSO repairs and facilities enhancements at Dumbarton, which have been completed. Greater natural gas volumes in West Africa were largely related to pipeline maintenance impacting the 2008 period. Natural gas volumes in Israel were reduced significantly during the fourth quarter 2009 due to warmer than normal weather and increased natural gas imports.

Crude oil price realizations for the quarter were $68.43 per barrel, up 56 percent from the fourth quarter 2008. In the U.S. and West Africa, fourth quarter 2009 crude realizations were reduced $1.71 and $4.79 per barrel, respectively, as a result of previously deferred hedge losses. U.S. natural gas prices were down from the same period in 2008, averaging $4.37 per thousand cubic feet (Mcf). In Israel, natural gas prices averaged a record $4.13 per Mcf for the fourth quarter 2009. Natural gas liquid pricing in the U.S. strengthened to $38.98 per barrel for the quarter.

Cash costs, including lease operating, production and ad valorem taxes, transportation, and general and administrative expenses were $10.50 per barrel of oil equivalent (Boe) for the quarter. Lease operating expenses were down 11 percent from the fourth quarter of 2008 to $4.80 per Boe, more than offsetting higher production taxes and transportation expenses. General and administrative expenses were up from the fourth quarter of 2008 primarily related to increased staffing for the

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development of major projects. Depreciation, depletion, and amortization was $11.34 per Boe for the fourth quarter 2009.

During the fourth quarter of 2009, the Company recorded a receivable of $97 million related to the favorable resolution of royalty litigation on identified leases under the Deep Water Royalty Relief Act of 1995. Also included in the fourth quarter of 2009 were before-tax asset impairments of $67 million related to certain natural gas assets onshore in the U.S. and in the deepwater Gulf of Mexico, as well as $100 million related to the Company’s operations in Ecuador.

PROVED RESERVES

Year-end 2009 estimated reserves were 820 million barrels of oil equivalent (MMBoe). Noble Energy added total proved reserves of 79 MMBoe, representing 103 percent of 2009 production, from discoveries, extensions, performance revisions and acquisitions. These reserve additions exclude negative revisions caused by lower prices and new SEC rules requiring the development of proved undeveloped reserves (PUDs) within five years.

The U.S. made up 55 percent and International the remaining 45 percent of total reserve additions. Initial bookings at the Aseng oil project in West Africa accounted for the majority of the International additions. In the U.S., additions were primarily driven by the execution of low-risk development projects onshore in the Rockies, as well as from the sanctioning of the Galapagos development in the deepwater Gulf of Mexico.

David L. Stover, President and COO of Noble Energy, said, “Our teams did a good job of organically replacing production, despite a very constrained capital program. We began converting to proved reserves the major-project resources that our exploration programs have delivered over the past few years. However, the majority of these identified resources are yet to be booked, including our discoveries at Tamar, Belinda, Gunflint and others. We anticipate substantial multi-year growth in reserves beginning in 2010.”

Price revisions lowered proven reserves by 27 MMBoe driven primarily by natural gas and the use of average pricing which was lower than 2008’s year-end pricing. Had the previous price methodology still been in effect, reserves would have been 61 MMBoe higher than the 2009 total.

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Proved reserves were also reduced by 18 MMBoe as a result of the new SEC rules requiring development of PUDs within five years. These reserves are expected to be re-booked to proved as drilling occurs in future years.

(1)	A Non-GAAP measure, see attached Reconciliation Schedules
(2)	Capital expenditures for the fourth quarter and full year 2009 exclude a non-cash accrual of $29 million related to construction progress to-date on the Aseng FPSO

CONFERENCE CALL

Noble Energy’s fourth quarter 2009 conference call will be available today via live audio webcast at 9:00 a.m. Central Time. To listen, log on to www.nobleenergyinc.com and click on the Investors tab and go to the Investors Events link. Dial in numbers are (888) 572-7025 or (719) 457-2552. A replay of the conference call will be available on the website.

Noble Energy is a leading independent energy company engaged in worldwide oil and gas exploration and production. The Company operates primarily in the Rocky Mountains, Mid-Continent, and deepwater Gulf of Mexico areas in the United States, with significant international operations offshore Israel and West Africa. Noble Energy is listed on the New York Stock Exchange and is traded under the ticker symbol NBL. Visit Noble Energy online at www.nobleenergyinc.com.

Contacts:
David Larson
(281) 872-3125 dlarson@nobleenergyinc.com

Brad Whitmarsh
(281) 872-3187 bwhitmarsh@nobleenergyinc.com

This news release may include projections and other “forward-looking statements” within the meaning of the federal securities laws. Any such projections or statements reflect Noble Energy’s current views about future events and financial performance. No assurances can be given that such events or performance will occur as projected, and actual results may differ materially from those projected. Risks, uncertainties and assumptions that could cause actual results to differ materially from those projected include, without limitation, the volatility in commodity prices for crude oil and natural gas, the presence or recoverability of estimated reserves, the ability to replace reserves, environmental risks, drilling and operating risks, exploration and development risks, competition, government regulation or other action, the ability of management to execute its plans to meet its goals and other risks inherent in Noble Energy’s business that are detailed in its Securities and Exchange Commission filings. Words such as “anticipates,” “believes,” “expects,” “intends,” “will,” “should,” “may,” and similar expressions may be used to identify forward-looking statements. Noble Energy assumes no obligation and expressly disclaims any duty to update the information contained herein except as required by law.

This news release may also contain certain forward-looking non-GAAP measures of financial performance that management believes are good tools for internal use and the investment community in evaluating the Company’s overall financial performance. These non-GAAP measures are broadly used to value and compare companies in the crude oil and natural gas industry.

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The Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. Beginning with year-end reserves for 2009, the SEC permits the optional disclosure of probable and possible reserves. We have elected not to disclose the Company’s probable and possible reserves in our filings with the SEC. We use certain terms in this news release, such as “resource potential,” that the SEC’s guidelines strictly prohibit us from including in filings with the SEC. Investors are urged to consider closely the disclosures and risk factors in our Forms 10-K and 10-Q, File No. 1-07964, available from Noble Energy’s offices or website, http://www.nobleenergyinc.com. These forms can also be obtained from the SEC by calling 1-800-SEC-0330.

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Schedule 1
Noble Energy, Inc.
Reconciliation of Net Income (Loss) to Adjusted Earnings
(in millions, except per share amounts, unaudited)

	Three Months Ended						Year Ended
	December 31,						December 31,
	2009			2008			2009			2008
Net Income (Loss)	$	8		$	305		$	(131	)	$	1,350
Unrealized (gains) losses on commodity derivative instruments		99			(513	)		606			(522	)
Asset impairments [1]		167			256			604			294
Gain on sale of Argentina assets		—			—			(24	)		—
Allowance for SemCrude receivable		—			—			12			38
MMS Royalty Relief, Including interest		(97	)		—			(97	)		—
Other adjustments, net		(6	)		—			(5	)		9
Total Adjustments before tax		163			(257	)		1,096			(181	)
Income Tax Effect of Adjustments [2]		7			115			(375	)		89
Adjusted Earnings [3]	$	178		$	163		$	590		$	1,258
Adjusted Earnings Per Share
Basic	$	1.03		$	0.95		$	3.41		$	7.30
Diluted		1.01			0.91			3.37			7.05
Weighted average number of shares outstanding
Basic		173			173			173			173
Diluted [4]		176			175			175			176

[1]	The 2009 impairments were related to US properties sensitive to natural gas prices and our investments in Ecuador.
[2]	The net tax effects are determined by calculating the tax provision for GAAP Net Income (Loss), which includes the adjusting items, and comparing the results to the tax provision for Adjusted Earnings, which excludes the adjusting items. The difference in the tax provision calculations represents the tax impact of the adjusting items listed here. The calculation is performed at the end of each quarter and, as a result, the tax rates for each discrete period are different.
[3]	Adjusted earnings should not be considered a substitute for net income as reported in accordance with GAAP. Adjusted earnings is provided for comparison to earnings forecasts prepared by analysts and other third parties. Our management believes, and certain investors may find, that adjusted earnings is beneficial in evaluating our financial performance.
[4]	The adjusted diluted earnings per share calculation for the year ended December 31, 2009 includes an increase to diluted shares of approximately 2 million shares representing the incremental dilutive shares that were anti-dilutive, for GAAP purposes, and therefore excluded from the calculation of GAAP net loss per share for the year ended December 31, 2009.

Schedule 2
Noble Energy, Inc.
Summary Statement of Operations
(in millions, except per share amounts, unaudited)

	Three Months Ended						Year Ended
	December 31,						December 31,
	2009			2008			2009			2008
Revenues
Crude oil and condensate	$	385		$	271		$	1,261		$	2,101
Natural gas		203			243			701			1,375
NGLs		32			22			98			175
Income from equity method investees		32			16			84			174
Other revenues		108			21			169			76
Total revenues		760			573			2,313			3,901
Operating Expenses
Lease Operating Expense		91			103			372			371
Production and Ad Valorem Taxes		28			25			94			166
Transportation Expense		16			14			59			57
Exploration expense		42			36			144			217
Depreciation, depletion and amortization		215			198			816			791
General and administrative		64			52			237			236
Asset impairments		167			256			604			294
Other operating expense, net		23			26			45			124
Total operating expenses		646			710			2,371			2,256
Operating Income (Loss)		114			(137	)		(58	)		1,645
Other (Income) Expense
(Gain) Loss on commodity derivative instruments		16			(630	)		110			(440	)
Interest, net of amount capitalized		20			17			84			69
Other expense (income), net		(7	)		(12	)		12			(45	)
Total other (income) expense		29			(625	)		206			(416	)
Income (Loss) Before Taxes		85			488			(264	)		2,061
Income Tax Provision (Benefit)		77			183			(133	)		711
Net Income (Loss)	$	8		$	305		$	(131	)	$	1,350
Earnings (Loss) Per Share
Basic	$	0.05		$	1.77		$	(0.75	)	$	7.83
Diluted		0.05			1.72			(0.75	)		7.58
Weighted average number of shares outstanding
Basic		173			173			173			173
Diluted		176			176			173			176

Schedule 3
Noble Energy, Inc.
Volume and Price Statistics
(unaudited)

	Three Months Ended				Year Ended
	December 31,				December 31,
	2009		2008		2009		2008
Crude Oil and Condensate Sales Volumes (MBpd)
United States		38		36		37		40
Equatorial Guinea		14		15		14		15
North Sea		5		12		7		10
China		4		4		4		4
Total consolidated operations		61		67		62		69
Equity method investee		2		2		2		2
Total sales volumes		63		69		64		71
Crude Oil and Condensate Realized Prices ($/Bbl)
United States	$	68.74	$	33.16	$	55.19	$	75.53
Equatorial Guinea		67.53		48.15		55.94		88.95
North Sea		67.79		67.89		59.51		100.56
China		69.44		47.77		54.40		82.66
Consolidated average realized prices	$	68.43	$	43.80	$	55.76	$	82.60
Natural Gas Sales Volumes (MMcfpd)
United States		386		404		397		395
Equatorial Guinea		244		187		239		206
Israel		104		133		114		139
North Sea		6		5		5		5
Ecuador		30		21		26		22
Total sales volumes		770		750		781		767
Natural Gas Realized Prices ($/Mcf)
United States	$	4.37	$	5.30	$	3.61	$	8.12
Equatorial Guinea		0.27		0.27		0.27		0.27
Israel		4.13		2.96		3.47		3.10
North Sea		5.23		10.28		5.75		10.54
Average realized prices	$	2.99	$	3.62	$	2.54	$	5.04
Natural Gas Liquids (NGL) Sales Volumes (MBpd)
United States		8		9		10		9
Equity method investee		7		5		6		6
Total sales volumes		15		14		16		15
Natural Gas Liquids Realized Prices ($/Bbl)
United States	$	38.98	$	26.64	$	27.96	$	50.15
Barrels of Oil Equivalent Volumes (MBoepd)
United States		110		112		113		116
Equatorial Guinea		55		46		54		49
Israel		17		22		19		23
North Sea		6		13		8		11
Ecuador		5		4		4		4
China		4		4		4		4
Total consolidated operations		197		201		202		207
Equity method investee		9		7		8		8
Total barrels of oil equivalent (MBoepd)		206		208		210		215
Barrels of oil equivalent volumes (MMBoe)		19		19		77		79

Schedule 4
Noble Energy, Inc.
Condensed Balance Sheets
(in millions)

	December 31,
	2009		2008
Assets
Current Assets
Cash and cash equivalents	$	1,014	$	1,140
Accounts receivable, net		465		423
Commodity derivative assets		13		437
Other current assets		186		158
Total current assets		1,678		2,158
Net property, plant and equipment		8,916		9,004
Goodwill		758		759
Other noncurrent assets		455		463
Total Assets	$	11,807	$	12,384
Liabilities and Shareholders’ Equity
Current Liabilities
Accounts payable — trade	$	548	$	579
Other current liabilities		442		595
Total current liabilities		990		1,174
Long-term debt		2,037		2,241
Deferred income taxes		2,076		2,174
Other noncurrent liabilities		547		486
Total Liabilities		5,650		6,075
Total Shareholders’ Equity		6,157		6,309
Total Liabilities and Shareholders’ Equity	$	11,807	$	12,384

Schedule 5
Noble Energy, Inc.
Discretionary Cash Flow and Reconciliation to Operating Cash Flow
(in millions, unaudited)

	Three Months Ended						Year Ended
	December 31,						December 31,
	2009			2008			2009			2008
Adjusted Earnings [1]	$	178		$	163		$	590		$	1,258
Adjustments to reconcile adjusted earnings to discretionary cash flow:
Depreciation, depletion and amortization		215			198			816			791
Exploration expense		42			36			144			217
Capitalized interest		(15	)		(10	)		(45	)		(33	)
(Income) / distributions from equity method investments, net		23			13			8			47
Deferred compensation adjustment		5			(7	)		23			(32	)
Deferred income taxes		4			71			100			270
Stock-based compensation expense		12			9			49			39
Settlement of previously recognized hedge losses [2]		—			(50	)		—			(194	)
Other, net		13			16			5			35
Discretionary Cash Flow [3]		477			439			1,690			2,398
Reconciliation to Operating Cash Flows
Net changes in working capital		(158	)		8			(147	)		(1	)
Cash exploration costs		(42	)		(30	)		(133	)		(133	)
Capitalized interest		15			10			45			33
Current tax benefit (expense) of net income adjustments		232			—			96			—
Net (gain) loss on disposal of assets		2			—			(22	)		(5	)
Other adjustments		(4	)		(9	)		(21	)		(7	)
Net Cash Provided by Operating Activities	$	522		$	418		$	1,508		$	2,285
Capital Expenditures, accrual based [4]	$	384		$	432		$	1,317		$	2,264
Capital Lease Accrual	$	29		$	—		$	29		$	—

[1]	See Schedule 1, Reconciliation of Net Income (Loss) to Adjusted Earnings
[2]	See Schedule 6, Effect of Derivative Instruments.
[3]	The table above reconciles discretionary cash flow to net cash provided by operating activities. While discretionary cash flow is not a GAAP measure of financial performance, our management believes it is a useful tool for evaluating our overall financial performance. Among our management, research analysts, portfolio managers and investors, discretionary cash flow is broadly used as an indicator of a company’s ability to fund exploration and production activities and meet financial obligations. Discretionary cash flow is also commonly used as a basis to value and compare companies in the oil and gas industry.
[4]	Capital expenditures for 2009 excludes a non-cash accrual of $29 million related to estimated construction progress to date on an FPSO to be used in the development of the Aseng field in Equatorial Guinea.

Schedule 6
Noble Energy, Inc.
Effect of Commodity Derivative Instruments
(in millions, unaudited)

	Three Months Ended						Year Ended
	December 31,						December 31,
	2009			2008			2009			2008
Reclassification from Accumulated Other
Comprehensive Loss (AOCL) to Revenue [1]
Crude oil	$	(12	)	$	(86	)	$	(58	)	$	(365	)
Natural gas		—			3			—			34
Total Revenue Decrease	$	(12	)	$	(83	)	$	(58	)	$	(331	)
Gain (Loss) on Derivative Instruments
Crude oil
Realized	$	34		$	68		$	246		$	(72	)
Unrealized		(96	)		456			(401	)		335
Total crude oil	$	(62	)	$	524		$	(155	)	$	263
Natural gas
Realized	$	49		$	49		$	250		$	(10	)
Unrealized		(3	)		57			(205	)		187
Total natural gas		46			106			45			177
Total Gain (Loss) on Derivative Instruments	$	(16	)	$	630		$	(110	)	$	440
Summary of Cash Settlements
Cash settlements (received) paid	$	(71	)	$	16		$	(438	)	$	607
Realized gain (loss) on derivative instruments		83			117			496			(82	)
Amounts reclassified from AOCL		(12	)		(83	)		(58	)		(331	)
Settlement of previously recognized hedge losses	$	—		$	50		$	—		$	194

[1] The amounts in AOCL represent deferred unrealized hedge gains and losses. Upon settlement, these deferred gains and losses are reclassified from AOCL to net income as increases or decreases to crude oil and natural gas revenues, and impact reported realized commodity prices.

Schedule 7
Noble Energy, Inc.
Supplemental Data
(in millions)
(Unaudited)

2009 Costs Incurred in Oil and Gas Activities

	United States			International [1]		Total
Property acquisition costs:
Proved	$	(5	)	$	—	$	(5	)
Unproved		89			3		92
Total acquisition costs		84			3		87
Exploration costs		189			124		313
Development costs		700			223		923
Capital lease accrual		—			29		29
Asset retirement obligations		11			10		21
Total costs incurred	$	984		$	389	$	1,373
Reconciliation to Capital Spending
Total costs incurred						$	1,373
Exploration overhead							(30	)
Lease rentals							(6	)
Asset retirement obligations							(21	)
Total oil and gas spending							1,316
Other capital							1
Total capital spending						$	1,317

Proved Reserves [2]

Total Barrel Oil Equivalents (MMBoe)	United States			International [1]			Total
Beginning reserves — December 31, 2008		508.3			355.3			863.6
Revisions of previous estimates		(71.6	)		7.5			(64.1	)
Extensions, discoveries and other additions		67.4			28.2			95.6
Purchase of minerals in place		1.6			—			1.6
Sale of minerals in place		—			—			—
Production		(41.2	)		(35.4	)		(76.6	)
Ending reserves — December 31, 2009		464.5			355.6			820.1
Proved Developed Reserves (MMBoe)
December 31, 2008		332.7			263.8			596.5
December 31, 2009		307.7			242.2			549.9

[1]	International includes Equatorial Guinea, Israel, North Sea, Ecuador and China.
[2]	Netherland, Sewell & Associates, Inc. performed an audit of over 86 percent of Noble Energy’s year-end 2009 total proved reserves and concluded the Company’s estimates of proved reserves, in the aggregate, are reasonable and have been prepared in accordance with generally accepted petroleum engineering and evaluation principles.