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Noble Energy Provides Update On Regulatory Matters In Israel

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Earlier today, Noble Energy, Inc.
(NYSE: NBL) and its partners in the Leviathan field were advised by the Israel
Anti-trust Authority of its decision to not submit the Consent Decree to the
Anti-trust Tribunal for final approval. In response, Noble Energy and
partners have requested a hearing on the topic with the Anti-trust Authority,
which Noble Energy expects to occur in the next few weeks.

Noble Energy Logo

In March 2014, Noble Energy, its partners, and the Anti-trust Authority
reached agreement for the Consent Decree that included the divestiture of the
Tanin and Karish gas fields. This agreement is a key component for the final
investment decision on the Leviathan development.

Charles D. Davidson, Noble Energy's Chairman, commented, "The actions of the
Anti-trust Authority are another disturbing example of the uncertain
regulatory environment in Israel. Specifically, this is a matter that we
believed was resolved some time ago and follows on recent assurances from the
Anti-trust Authority that approval was forthcoming. We believe this is a
harmful precedent for Israel to set and we will vigorously defend our rights
relating to our assets."

David L. Stover, President and Chief Executive Officer, added, "We are
disappointed in this latest communication from the Anti-trust Authority.
Final resolution of this item, as well as a number of other regulatory
matters, is required before we proceed with additional exploration or
development investments in our Israel business."

Noble Energy is a leading independent energy company engaged in worldwide oil
and natural gas exploration and production. The Company has core operations
onshore in the U.S., primarily in the DJ Basin and Marcellus Shale, in the
deepwater Gulf of Mexico, offshore Eastern Mediterranean, and offshore West
Africa. Noble Energy is listed on the New York Stock Exchange and is traded
under the ticker symbol NBL. Further information is available at
www.nobleenergyinc.com.

This news release contains certain "forward-looking statements" within the
meaning of federal securities law. Words such as "anticipates," "believes,"
"expects," "intends," "will," "should," "may," and similar expressions may be
used to identify forward-looking statements. Forward-looking statements are
not statements of historical fact and reflect Noble Energy' s current views
about future events. They include estimates of planned drilling activity,
business strategy and other plans and objectives for future operations. No
assurances can be given that the forward-looking statements contained in this
news release will occur as projected, and actual results may differ materially
from those projected. Forward-looking statements are based on current
expectations, estimates and assumptions that involve a number of risks and
uncertainties that could cause actual results to differ materially from those
projected. These risks include, without limitation, government regulation or
other actions, 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, the ability of management to
execute its plans to meet its goals and other risks inherent in Noble Energy's
business that are discussed in its most recent annual report on Form 10-K and
in other reports on file with the Securities and Exchange Commission. These
reports are also available from Noble Energy's offices or website,
http://www.nobleenergyinc.com. Forward-looking statements are based on the
estimates and opinions of management at the time the statements are made.
Noble Energy does not assume any obligation to update forward-looking
statements should circumstances or management's estimates or opinions change.

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Posted-In: News Press Releases

 

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