Noble Energy’s Oil Production Mix Has Increased in the DJ Basin


Jun. 29 2017, Published 2:39 p.m. ET

DJ Basin metrics

Noble Energy (NBL) holds the largest acreage position in the DJ Basin compared to its acreage positions in other plays in the US onshore space. 

The company own 352,000 net acres and 3,220 gross drilling locations in the DJ Basin.

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1Q17 metrics

Production volumes in the DJ Basin totaled 107 Mboepd (thousand barrels of oil equivalent per day) in 1Q17, compared to 112 Mboepd in 4Q16. Its number of operated rigs in 1Q17 remained the same compared to 4Q16.

NBL completed 36 wells in the DJ Basin in 1Q17, compared to 20 wells in 4Q16. Its number of wells drilled fell from 33 in 4Q16 to 27 in 1Q17. The company brought 14 wells online in 1Q17, compared to 16 in 4Q16. The company expects to double the region’s number of wells brought online in 2Q17 compared to 1Q17.

NBL has steadily increased oil as a percentage of its total DJ Basin production to 52% in 1Q17, compared to 46% in 2Q16. This rise was driven by continued developments in its low gas-to-oil ratio areas in its Wells Ranch and East Pony locations.

Key players in the DJ Basin include Anadarko Petroleum (APC) and PDC Energy (PDCE). Next, we’ll see how NBL has performed in Eagle Ford recently.


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