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Exhibit 99.1

 

 

 

(LOGO)

 

(NEWS RELEASE)

 

NOBLE ENERGY FINALIZES STRATEGIC PARTNERSHIP
WITH CONSOL ENERGY IN MARCELLUS SHALE

HOUSTON (October 3, 2011) — Noble Energy, Inc. (NYSE: NBL ) announced today it has closed the previously announced agreements which create a joint venture partnership with CONSOL Energy, Inc. (NYSE: CNX ) for the development of Marcellus Shale properties in southwest Pennsylvania and northwest West Virginia.

Under the agreements, Noble Energy acquired a 50 percent interest in 628,000 net undeveloped acres for approximately $1 billion, payable in three installments of which the first is $327 million. The Company also purchased a 50 percent interest in existing Marcel


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