Noble Energy Announces Election Of David L. Stover As President & Chief Executive Officer

Company Also Announces Additional Executive Leadership Changes

Oct 21, 2014, 13:06 ET from Noble Energy

HOUSTON, Oct. 21, 2014 /PRNewswire/ -- Noble Energy, Inc. (NYSE: NBL) announced today that the Board of Directors has elected David L. Stover as President and Chief Executive Officer, succeeding Charles D. Davidson as CEO. Mr. Stover's election is consistent with the management succession plan disclosed in April of this year when it was announced that Mr. Davidson would be retiring on May 1, 2015. Mr. Stover has previously been serving as the Company's President and Chief Operating Officer. Mr. Davidson will continue to serve as the Company's Chairman until the 2015 Annual Meeting at which time he will be leaving the Board of Directors. The Board also announced that it intends to elect Mr. Stover as Chairman of the Board immediately following the 2015 Annual Meeting.

The Company also announced that Susan M. Cunningham has been elected Executive Vice President responsible for Noble Energy's global Exploration, New Ventures, Frontier, Environmental, Health, Safety, Regulatory and Business Innovation activities. In addition, Gary W. Willingham has been elected Executive Vice President responsible for Noble Energy's global Production, Drilling, Major Projects and Supply Chain activities. Both Ms. Cunningham and Mr. Willingham will report directly to Mr. Stover.

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 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 oil and natural gas reserves and resources, estimates of future production, assumptions regarding future oil and natural gas pricing, planned drilling activity, future results of operations, projected cash flow and liquidity, 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, 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, government regulation or other actions, 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.

SOURCE Noble Energy



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