Noble Energy (NYSE:NBL) has delivered below-average adjusted production growth over the last five years and likely will need to take on additional debt to fund its capex plans over the next couple of years. I believe those negatives are more than offset by a strong future production profile based on multiple strong producing assets that should generate solid returns in the coming years. Noble isn't strikingly cheap, but still offers enough upside to merit a closer look.
Multiple Assets Around The Globe
Noble has multiple large high-quality asset bases to its credit, as well as small incremental opportunities that could add value in the coming years.
Noble is the largest acreage holder in the DJ Basin, best known...
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