Noble Energy, Inc. Q3 2008 Earnings Call Transcript

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2008-10-29 12:45:27.0

Tags: Noble Energy Inc., Environment, Call Transcript, Earnings, Seeking Alpha, Noble Energy Inc., Environment, Call Transcript, Earnings, Seeking Alpha

Question-and-Answer Session

Operator

(Operator instructions) We'll go first to Ellen Hannan of Weeden & Company.

Ellen HannanWeeden & Company

Hi. Good morning, Chuck.

Chuck Davidson

Good morning.

Ellen HannanWeeden & Company

Couple of questions for you. Putting aside your stock price performance and in that of the sector, in the current environment and what you see maybe for the next six to nine months or, is there anything going in 2009 that you would do that's really different than what you might have planned six months ago?

Chuck Davidson

Well, as we look at 2008 and the environment we’re in, first of all, in the major programs, as we’ve mentioned, we see those all moving forward. One of the benefits of, I think, we really have with Noble Energy is we’ve got the ability to continue to make these investments for future growth, and that means the exploration programs, the developments in West Africa.

But, you know, as Dave mentioned and I refer to, we will look at the pace of development in certain areas, particularly in the Rockies, to see how the pipeline infrastructure moves forward might make sense will be in this environment that pipeline infrastructure investment will go more slowly than what may be the industry had been anticipating before. We want to make sure we don't get ahead of those. So we would probably adjust the pace of development in some of those areas especially where there is sensitivity to infrastructure capacity. But, not dramatically different although we would probably also say that there will be some opportunities that will come about in 2009 as well that we may want to take advantage of as well. We want to make sure we have the capacity to go after those if they make sense. So it's a very dynamic period.

Ellen HannanWeeden & Company

Okay. Thank you. Just another question, kind of operationally. Any timing on the production from the Diega discovery. Thoughts on that?

Chris Tong

I think, Ellen, if you look at it, Benita would probably come on first and we're still talking that 2012 type timeframe. And I would anticipate it would probably a year or two to tie in Diega behind that.

Ellen HannanWeeden & Company

Great. Thank you very much.

Chuck Davidson

Thank you.

Operator

Our next question comes from Joe Magner of Tristone Capital.

Joe MagnerTristone Capital

 

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