Noble Energy Announces 8-K Furnishing With Securities and Exchange Commission

HOUSTON, April 17 /PRNewswire-FirstCall/ -- Noble Energy, Inc. (NYSE: NBL)
today announced that it has furnished its mark-to-market commodity derivative
results for the first quarter 2008 on a Form 8-K filed with the Securities and
Exchange Commission. As previously disclosed, the Company voluntarily
discontinued cash flow hedge accounting on all existing commodity derivative
instruments effective January 1, 2008. Also included in the 8-K is the
Company's commodity derivative hedge positions as of March 31, 2008.
In connection with these results, Noble Energy will report adjusted net
income in its earnings release scheduled for May 1, 2008, which will exclude
the after-tax impact of the unrealized portion of the mark-to-market change in
its commodity derivative instruments.
The company intends to furnish these derivative results on a regular
basis.
Noble Energy is one of the nation's leading independent energy companies
and operates throughout major basins in the United States including Colorado's
Wattenberg field and Piceance basin, the Mid-continent region of western
Oklahoma and the Texas Panhandle, the San Juan basin in New Mexico, the Gulf
Coast and the deepwater Gulf of Mexico. In addition, Noble Energy operates
internationally in China, Ecuador, the Mediterranean Sea, the North Sea, and
West Africa (Equatorial Guinea and Cameroon). Visit Noble Energy online at
http://www.nobleenergyinc.com.
This news release may include projections and other "forward-looking
statements" within the meaning of the federal securities laws. Any such
projections or statements reflect Noble Energy's current views about future
events and financial performance. No assurances can be given that such events
or performance will occur as projected, and actual results may differ
materially from those projected. Important factors that could cause the
actual results to differ materially from those projected include, without
limitation, the volatility in commodity prices for oil and gas, the presence
or recoverability of estimated reserves, the ability to replace reserves,
environmental risks, drilling and operating risks, exploration and development
risks, competition, government regulation or other action, the ability of
management to execute its plans to meet its goals and other risks inherent in
Noble Energy's business that are detailed in its Securities and Exchange
Commission (SEC) filings. The United States SEC permits oil and gas
companies, in their filings with the SEC, to disclose only proved reserves.
We may use certain terms in this press release, such as "resources",
"estimated resource range", "resource potential" and "potential resources,"
that the SEC's guidelines strictly prohibit us from including in filings with
the SEC. Investors are urged to consider closely the disclosures and risk
factors in our Forms 10-K and 10-Q, File No. 1-07964, available from Noble
Energy's offices or website, http://www.nobleenergyinc.com. These forms can
also be obtained from the SEC by calling 1-800-SEC-0330.
SOURCE Noble Energy, Inc.

David Larson, +1-281-872-3125, dlarson@nobleenergyinc.com, or Brad Whitmarsh,
+1-281-872-3187, bwhitmarsh@nobleenergyinc.com, both of Noble Energy, Inc.