Rosetta Merger Rosetta Merger (Tables)

9 Months Ended

Sep. 30, 2015

Business Combinations [Abstract]

Schedule of purchase price allocations

The following table sets forth our preliminary purchase price allocation:

	(in millions, except stock price)
Shares of Noble Energy common stock issued to Rosetta shareholders	41
Noble Energy common stock price on July 20, 2015	$	36.97
Fair value of common stock issued	$	1,516
Plus: fair value of Rosetta's restricted stock awards and performance awards assumed	11
Plus: Rosetta stock options assumed	1
Total purchase price	1,528
Plus: liabilities assumed by Noble Energy
Accounts Payable	96
Current Liabilities	37
Long-Term Debt	1,992
Other Long Term Liabilities	24
Asset Retirement Obligation	27
Total purchase price plus liabilities assumed	$	3,704
Fair Value of Rosetta Assets
Cash and Equivalents	$	61
Other Current Assets	74
Derivative Instruments	209
Oil and Gas Properties:
Proved Reserves	1,541
Undeveloped Leaseholds	1,165
Gathering & Processing Assets	207
Asset Retirement	27
Other Property Plant & Equipment	5
Long Term Deferred Tax Asset	86
Implied Goodwill	329
Total Asset Value	$	3,704

Schedule of pro forma information

	Three Months Ended September 30,					Nine Months Ended September 30,
(in millions, except per share amounts)	2015			2014		2015			2014
Revenues	$	828		$	1,557	$	2,582		$	4,828
Net income	$	(202	)	$	542	$	(338	)	$	1,039
Earnings per share:
Basic	$	(0.44	)	$	1.37	$	(0.79	)	$	2.63
Diluted	$	(0.44	)	$	1.35	$	(0.79	)	$	2.59