Chevron Corp Agreement to Acquire Noble Energy Inc Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Paul Cheng - Scotiabank Global Banking and Markets, Research Division - Analyst : A couple of questions that, I think for Mike. Noble actually has done a good job in developing their assets and it's actually quite well defined. So when you're looking at their asset today, do you see anything -- way that you're going to do differently? So that's the first question. The second question maybe is for Pierre. The $300 million on the synergy pretax, is that include any of the interest expense? If not, is there an opportunity of the refinancing and that will add to? And of that $300 million, how much is actually on the G&A side?

Question: Paul Cheng - Scotiabank Global Banking and Markets, Research Division - Analyst : Before I get to the synergy, can I ask that on Eastern Mediterranean? Noble has a pretty well-defined plan how that they want to ramp up the gas model over there. After Chevron takeover, is there any change in that pace? Or that you think that's a reasonable pace and maybe achievable pace.

Question: Paul Cheng - Scotiabank Global Banking and Markets, Research Division - Analyst : So over time, the synergies should be better, right? Because that's simple -- as the low-hanging fruit like interest expense and also combine in the Permian models is not really included?