Noble Energy Increases Stake in Lorien Well

Noble Energy has acquired an additional interest from ConocoPhillips Company in the Green Canyon Block 199 (Lorien) discovery well in the deepwater Gulf of Mexico. The acquisition increases Noble Energy's working interest in Lorien from 20 percent to 60 percent. Noble Energy will take over as operator of the block.

An integrated project team is working on plans for an appraisal of the Lorien discovery during 2004. Announced as a discovery in July 2003, the Lorien well is located in 2,177 feet of water. The well drilled to a total measured depth of 18,703 feet (or a total vertical depth of 17,432 feet) and encountered more than 120 feet of apparent oil in a high-quality reservoir interval.

Of ConocoPhillips' 65 percent working interest, Noble Energy acquired 40 percent, with the remaining 25 percent acquired by Norsk Hydro E&P Americas AS, Inc. and Davis Offshore, L.P. Norsk Hydro has a working interest of 30 percent. Davis Offshore has a working interest of ten percent. The acquisition of ConocoPhillips' working interest in Lorien by Noble Energy and its partners is subject to approval by the Minerals Management Service.