Noble Energy said it expects capital spending to rise marginally to $3.9 billion in 2013, with nearly two-thirds of the budget going to its onshore operations in the US where it expects to pump more crude oil.

Facing lower prices for natural gas and natural gas liquids, a dip in West Texas Intermediate crude oil and logistics issues in some shale basins, US exploration and production companies are expected to be more cautious when determining budgets for next year. 

Noble had earmarked a total budget of $3.5 billion for 2012, of which it spent about $2.55 billion in the nine months ended September 30. Oil and gas output is forecast to grow at a compounded annual growth rate of 17 per cent. 

Noble Energy said nearly 43 per cent of its next year’s budget will go to operations in the Denver-Julesburg (DJ) Basin, where its holds about 860,000 net acres and plans to grow production 25 per cent next year. Success in that basin, where the company is using the detailed analysis of real time data and other technology to boost its output, also led Noble to raise its production forecast for the fourth quarter.

The company’s Niobrara properties are located within the DJ Basin that is centered in eastern Colorado but extends into southeast Wyoming, western Nebraska and western Kansas.