Rosetta Merger Rosetta Merger (Tables)

3 Months Ended

Mar. 31, 2016

The following table sets forth our preliminary purchase price allocation which was based on fair values of assets acquired and liabilities assumed at the merger date, July 20, 2015, with the excess of the purchase price over the estimated fair value of the identifiable net assets acquired recorded as goodwill:



	(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	$	1,518
Plus: fair value of Rosetta's restricted stock awards and performance awards assumed	10
Plus: Rosetta stock options assumed	1
Total purchase price	1,529
Plus: liabilities assumed by Noble Energy
Accounts Payable	100
Current Liabilities	37
Long Term Deferred Tax Liability	8
Long-Term Debt	1,992
Other Long Term Liabilities	23
Asset Retirement Obligation	27
Total purchase price plus liabilities assumed	$	3,716

Fair Value of Rosetta Assets
Cash and Equivalents	$	61
Other Current Assets	76
Derivative Instruments	209
Oil and Gas Properties
Proved Reserves	1,613
Undeveloped Leaseholds	1,355
Gathering & Processing Assets	207
Asset Retirement Obligation	27
Other Property Plant and Equipment	5
Goodwill	163
Total Asset Value	$	3,716

Schedule of pro forma information



	Three Months Ended March 31,
(in millions, except per share amounts)	2016 ⁽¹⁾			2015
Revenues	$	724		$	894
Net Loss	$	(287	)	$	(27	)

Loss per share
Basic	$	(0.67	)	$	(0.07	)
Diluted	$	(0.67	)	$	(0.07	)


⁽¹⁾	No pro forma adjustments were made for the period as the acquisition is included in the Company's historical results.