Noble Energy Inc. will establish a regional headquarters in Canonsburg, PA, by becoming the anchor tenant of a new 207,000 square-foot office building in the Southpointe business park, which several of the Marcellus Shale’s largest operators also call their regional home.
The building is expected to be complete by January 2015, and Noble will occupy 138,000 square-feet with an option on remaining space at the building, which will house 450 offices, the company said.
During a 4Q2013 conference call last month, company officials said they plan focus their operations on the Denver-Julesburg (DJ) Basin in Colorado and the Marcellus Shale in Pennsylvania and West Virginia (see Shale Daily, Feb. 6). The company plans to continue divesting its noncore assets throughout 2014 to help fund those efforts
“This announcement reflects our long-term commitment to Pennsylvania and West Virginia and the strategic role our Marcellus Shale operations play in our overall growth strategy,” said COO David Stover during a ceremony that included Gov. Tom Corbett in Canonsburg on Tuesday. “In 2013, these operations contributed 9% of our total sales volumes. And over the next five years, production is expected to grow at a compound annual growth rate of 46%.”
Noble produced 210 MMcfe/d in the Marcellus last year, a 65% increase from 2012. The company’s workforce in the Appalachian Basin has climbed from 12 people in 2011 to 147 today.
Canonsburg, located about 18 miles southwest of Pittsburgh, has transformed into a regional oil and gas hub in recent years (see Shale Daily, Jan. 3, 2011). Noble will join Consol Energy Inc., its joint venture partner in the Marcellus, Chesapeake Energy Corp., Range Resources Corp., EQT Corp., MarkWest Liberty Midstream & Resources and others that have offices in Canonsburg.
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