Noble makes a splash with major production goals

The US independent has set itself major production goals – and has piqued investors’ interest.

Like an Oscar-winning actress choking up during her acceptance speech, Susan Cunningham, Noble Energy’s senior vice president, exploration and business innovation, was overcome with emotion when she told analysts and investors on 6 December that the firm’s “audacious” goal, set six years ago, to find 1 billion barrels of oil equivalent (boe) within five years are being replayed, this time with a commitment to find 1.5bn boe in just two years. “Whew,” she gulped, “that… that gets me every time.” Mawkishness aside, Noble has a story to tell investors. Over the next five years, the company expects a mix of US onshore and foreign deep-water developments to raise production at a compound annual g