What are Noble Energy Inc's Business Segments?
We search for crude oil and natural gas properties, seek to acquire exploration
rights in areas of interest and conduct exploratory activities. These activities
include geophysical and geological evaluation and exploratory drilling, where
appropriate, on properties for which we have acquired exploration rights. Our
properties consist primarily of interests in developed and undeveloped crude
oil and natural gas leases. We also own NGL processing plants and pipeline systems.
Natural Gas Marketing
Natural gas produced in the U.S. is sold under short-term or long-term contracts
at market-based prices. In Equatorial Guinea and Israel, we sell natural gas
to end-users under long-term contracts at negotiated prices.
Crude Oil and Condensate Marketing
Crude oil and condensate produced in the U.S. and foreign locations is generally
sold under short-term contracts at market-based prices adjusted for location
and quality. In China, we sell crude oil into the local market under a long-term
contract. Crude oil and condensate are distributed through pipelines and by
trucks or tankers to gatherers, transportation companies and end-users.
Noble Energy Marketing, Inc.
We market portions of our domestic natural gas production through Noble Energy
Marketing, Inc. (“NEMI”), a wholly-owned subsidiary. NEMI seeks
opportunities to enhance the value of our domestic natural gas production by
marketing directly to end-users and aggregating natural gas to be sold to natural
gas marketers and pipelines. NEMI also engages in the purchase and sale of third-party
crude oil and natural gas production. Such third-party production may be purchased
from non-operators who own working interests in our wells or from other producers’
properties in which we own no interest.
Electricity Sales
Ecuador Integrated Power Project—Through our subsidiaries, EDC Ecuador
Ltd. and MachalaPower Cia. Ltda., we have a 100% ownership interest in an integrated
natural gas-to-power project. The project includes the Amistad natural gas field,
offshore Ecuador, which supplies fuel to the Machala power plant. Electricity
sales are included in other revenues and electricity generation expenses are
included in other expense, net in the consolidated statements of operations.
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