Noble Energy Inc. Overview 

Noble Energy Inc.

Noble Energy, Inc. is an American incorporated company headquartered in Houston, Texas, United States. However, in October 2020, Noble Energy was bought by Chevron Corporation, hence, making the company become part of the Chevron Corporation’s acquisition. Noble Energy, Inc. is a corporation that deals with hydrocarbon exploration, and it was one of the longed existing companies in the petroleum industry. Founded in 1932, approximately 90 years ago, the company’s major products revolve around Petroleum, Natural Gas, as well as Natural Gas Liquid. In its overall operations, Noble Energy produces a total sum of 346 thousand barrels of oil equivalent per day and the company’s gross revenue is recorded in the sum o 4.986 Billion USD per year. Before its purchase by Chevron with a deal of 5 Billion USD, Noble Energy, Inc., was ranked on the Fortune list, taking the 602nd position. And prior to the year 2002, Noble Energy was recognized as Noble Affiliates, Inc., until it was later rebranded as Noble Energy, Inc. As of 2018, December 31, Noble Energy, recorded 1, 929 million barrels of oil equivalent of proved reserves, however, 52% of this oil was in the United States of America, while 43% of the entire oil was in Israel and 5% of it in Equitorial Guinea. In the year 2018, on December 31, the company’s overall proved reserves were 62% of Natural Gas, 24% of Petroleum, as well as 14% of Natural Gas Liquids. This piece will, however, reveal to you a more detailed, comprehensive, and extensive review of Noble Energy its operations, and its dealings. As such, all relevant information detailing its key facts, its historical background, its product niches, and service offerings, its financial overview, as well as its pros and cons will be concisely covered to enable you to understand the significant and major elements of the fastening-oriented company as quickly as possible.    

Key Facts 

Founding Year: Noble Energy was founded in the year 1932, approximately 90 years ago.  

Industrial Ranking: Noble Energy  was ranked on the Fortune list, taking the 602nd position prior to its acquisition by Chevron in 2020.  

Company Type: A Public Corporation (PLC)   

Production Output Strength: In its overall operations, Noble Energy produces a total sum of 346 thousand barrels of oil equivalent per day 

Industry Type: Petroleum/ Oil and Gas Industry 

Trading Type: Noble Energy is traded on the New York Stock Exchange (NYSE) market under the ticker name, NBL 

Workforce Strength: Noble Energy had a total number of 2, 282 employees in its workforce globally as of 2019.   

Historical Background 

Prior to its purchase by Chevron, Noble Energy, Inc., has a long shot and broad range history since its inception in 1932. The corporation had gone through several evolution stages before being eventually merged with the Chevron Corporation. In this section, however, a quick overview of the company’s transition would be addressed briefly for the sake of brevity.   

In the year 1932, Lloyd Noble, a vibrant and insightful entrepreneur founded an oil company, operating under the name, Samedan Oil Corporation, which happens to be the predecessor company to Noble Energy, Inc. The company was strategically named after his kids, Sam, Ed, and Ann. And in the year 1968, Noble Energy, Inc., bought its first oversea block which was located in the Gulf of Mexico. During the 1970s, Noble Affiliates Inc., the then Noble Energy, Inc., was set up in a bid to serve as a holding company to own Samedan Oil Corporation as well as a drilling company, Noble Drilling Corporation. In the year 1972, Noble Affiliates through its initial public offering (IPO) listing on the NASDAQ becomes a public company.  

In the year 1980, Noble Affiliates was enlisted on the New York Stock Exchange (NYSE) market, operating under the ticker symbol, NBL. In the year 1985, the company rips off its drilling subsidiary, operating under the name, Noble Drilling Corporation, and in the year 1986, the company went ahead to buy Energy Development Corporation. In the year 2000, October, Charles Davidson emerges as the company’s president and Chief Executive Officer (CEO) of the company. 

In the year 2002, Noble Energy, Inc., diversified into the production of electricity and methanol, and thus, the diversification changed the company’s name to Noble Energy, Inc. In the year 2005, in May, Noble Energy, Inc., bought Patina Oil & Gas, and the purchase gave the company the acreage and landed facility in the Rocky Mountains. In the year 2006, May, the company sold off its asset in Gulf Mexico for a total sum of $625 million USD. However, in June 2006, the company pronounced a major discovery in the Raton prospect and latency of the Gulf of Mexico. 

In the year 2010, Noble Energy, Inc. Bought a stake in the DJ Basin of the Rocky Mountains from Suncor Energy and PetroCanada for a total sum of $494 million USD. And in the same year, December, Noble Energy, Inc., pronounced its discovery of the Leviathan Gas field, outside Israel.  

In the year 2011, Noble Energy, Inc., received its first deep drilling permit in the Gulf of Mexico, the permit was issued by the United States Department of Interior subsequently after the Deepwater Horizon incident occurred. In the year 2012, Noble Energy, Inc., relocated its headquarters to a formerly Hewlett Packard (HP) occupied building located in Northwest Houston, Texas, United States. In the same year, September, Noble Energy, Inc., sold off its assets in the Mid-Continent Oil province for a total sum of $594 million USD.  

In the year 2014, October,  Noble Energy, announced its plans to find a center to train and harness technicians in the energy industry at the Ruppin Academic Center located in Israel with a substantial donation. In the year 2015, July,  Noble Energy, Inc., bought Rosetta Resources in a stock-like transaction, and the acquisition led to the company’s acreage in the Eagle Ford Group. In the year 2017,  Noble Energy, Inc., also bought Clayton Williams Energy for a total sum of $2.7 Billion USD. 

In January 2018,  Noble Energy, Inc., sold a portion of its interest in the Tamar Gas Field for a total sum of $800 million USD. In the same year 2018, April,  Noble Energy, Inc., also sold off its assets in the Gulf of Mexico, and in December, of the same year,  Noble Energy, Inc., bought a stake in the Eagle Ford Group as well as the Bakken Formation. 

In the year 2019, on December 30,  Noble Energy, Inc., moved its stock listing from the New York Stock Exchange (NYSE) Market to the NASDAQ Global Select Market. And in the year 2020, October,  Noble Energy, Inc., was bought by Chevron Corporation operation on the New York Stock Exchange (NYSE) Market under the ticker symbol, CVX.       

On August 01, 2022, Chevron announces its change of leadership, as a result, it announced the appointment of Alana K. Knowles as the vice president and controller, the appointment is however set to take effect on March 1, 2023. 

Chevron Corporation, recently purchase REG, and the acquisition launched the company to become a leading United States renewable fuel company. 

Financial Overview 

Revenue: $4. 986 Billion USD 

Net Income: $66 Million USD 

Total Assets: $21. 010 Billion USD

Total Equity: $10.484 Billion USD 

Market Niches 

CHEMICALS 

FUELS 

LUBRICANTS 

MARINE 

BASE OILS & PROCESS OILS

Pros 

Sufficient and Adequate Industrial Experience: With its existence since 1932, and approximately 90 years of accumulated industry experience, Noble Energy, no doubt has sufficient experience to give its customers clean and reliable energy.   

Great and Amusing Work Environment: Research affirms that most employees at Noble Energy, were impressed to work with Noble Energy   

Dedicated and Committed to Sustainable Development: Noble Energy, was committed to giving its best in terms of delivering its Corporate Social Responsibility (CSR) as it fosters and supports both social and environmental-oriented programs.   

Cons 

No Work/Life Balance: As a result of the excessive working hour of the company, employees find it difficult to maintain work/life balance. 

Slow Onboard Process: Some employees at Noble Energy, claim the company’s onboarding process for new absorb roles is relatively slow.   

Conclusion 

In spite of its acquisition by Chevron Corporation, Noble Energy, is an amusing and intriguing case to study as a result of its long-shot years in the industry, its innovative milestones as well as its commitment to customer service. As seen in the above-detailed history that the company leverages its industrial insights and expertise to attain a great feat prior to its purchase. Finally, I hope your expectation highlighted in the introductory portion of this paper have been addressed. However, on the off chance that you are yet to completely absorb all that is drafted in this piece at once, I recommend that you review it over and over again until you are in sync with the entire information.