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Contact:
Greg Panagos
Noble Energy
Telephone (281) 872-3125
NOBLE ENERGY AND SAMSON OFFSHORE ENTER INTO DEEPWATER EXPLORATION AGREEMENT HOUSTON
(December 7, 2005) – Noble Energy, Inc. (NYSE: NBL) and Samson Offshore Company have entered into an exploration agreement covering interests in 37 deepwater leases held by Noble Energy in the Gulf of Mexico. Under the terms of the agreement, Samson will acquire a 25 percent working interest net to Noble Energy’s existing working interest in the leases, a majority of which were 100 percent owned and operated by Noble Energy. In addition, Samson will participate in at least four exploratory wells through the end of 2008, the first of which is scheduled to commence later this month.
“Long-term strategic alliances, like the agreement announced today with Samson, will become a key component of our deepwater exploration program in the future,” said Rodney Cook, Noble Energy’s Vice President for North America. “This agreement guarantees that we will have a committed partner in upcoming exploration wells for several years. It will also help us leverage resources to expand our opportunity base in the deepwater. Samson is an experienced, premier E&P player active in many other domestic and international areas. We are pleased they have chosen to team up with Noble in the deep water Gulf of Mexico.”
“Noble is a very successful and experienced deepwater explorer and operator”, said David Adams, Samson’s Executive Vice President of Exploration. “They have assembled a high quality portfolio of deepwater prospects. Given Noble’s experienced and highly talented employees, we are confident this partnership will be profitable and rewarding”.
Noble Energy is one of the nation’s leading independent energy companies and operates throughout major basins in the United States including the Gulf of Mexico, as well as internationally, in Argentina, China, Ecuador, Equatorial Guinea, the Mediterranean Sea and the North Sea. Noble Energy markets natural gas and crude oil through its subsidiary, Noble Energy Marketing, Inc.
Samson Offshore Company is a wholly own subsidiary of Samson Investment Company. Samson Investment Company, a Tulsa company, is engaged in oil and gas exploration, acquisition and production operations in 19 states in the United States, Canada, Venezuela and the North Sea.
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