Mon, Nov. 2, 10:39 AM
- Noble Energy (NBL +7.2%) pushes out to a strong early gain despite missing Q3 earnings estimates, as it raises its sales forecast for the current quarter and cutting its 2015 capital budget by $100M.
- NBL says it now expects Q4 sales volume of 385K-405K boe/day from its earlier outlook of 375K-400K boe/day after Q3 sales volume totaled 379K boe/day; Q3 sales volumes were 4K boe/day short of production due to the timing of the lifting of some oil and natural gas liquids from its Equatorial Guinea operations.
- NBL also says it now plans to spend slightly less than $3B this year, 40% less than a year ago.
Mon, Nov. 2, 7:18 AM
Sun, Nov. 1, 5:30 PM
Mon, Aug. 3, 10:31 AM
- Noble Energy (NBL -2.2%) opens lower after reporting better than expected Q2 earnings but also a 47% Y/Y revenue decline and costs that are not falling as much as sales.
- While NBL's Q2 sales volumes rose 3.1% Y/Y to 299K boe/day, crude oil and condensate sales were cut in half to $483M, and natural gas revenue fell 28% Y/Y to $215M.
- NBL attributes the modest rise in Q2 total sales volume to the continued development of the DJ Basin and Marcellus shale plays, where combined production rose 28%.
- NBL raises its full-year sales volume forecast to 305K-320K boe/day from 300K-315K boe/day, and says it expects more than 15% annual production growth from assets recently acquired from Rosetta Resources, which includes 50K acres in the Eagle Ford Shale and 54K acres in the Permian.
- NBL says total organic capital spending in 2015 remains unchanged at $2.9B for legacy assets; Q2 costs fell 17% Y/Y and 13% Q/Q.
Mon, Aug. 3, 7:34 AM
Sun, Aug. 2, 5:30 PM
Fri, Jul. 17, 12:58 PM
- Rosetta Resources (ROSE +1.2%) pumped 63K boe/day during Q2, 2% more than the same period last year and exceeding the high end of company estimates, the company said in its Q2 earnings report ahead of the expected close next Monday of its takeover by Noble Energy (NBL +1.2%).
- ROSE’s assets in the Eagle Ford Shale in South Texas and the Permian Basin in West Texas have been “under-appreciated,” and the Q2 results shed light on why NBL was eager to snap them up, Tudor Pickering analysts say.
- ROSE’s volumes are projected to add 66K boe/day to NBL’s portfolio, or ~18% of the company’s total output, and the Q2 results are "a positive read-through for Noble," Raymond James says.
- Even as ROSE pumped more oil, the company posted a $342M Q2 loss as it fetched a smaller price for its crude.
Tue, May 5, 10:12 AM
- Noble Energy (NBL +0.8%) opens higher after beating Q1 earnings estimates by a penny but posting a 45% drop in revenues, as the price it received for a barrel of oil fell by more than half.
- But NBL raised its sales volume guidance for the year, now expecting sales of 300K-315K boe/day after Q1 sales volume rose 11% Y/Y to a quarterly record 318K boe/day, due mostly to the development of the DJ Basin and Marcellus Shale resource plays.
- NBL's Q1 average realized prices for crude oil and condensates fell to $45.96/bbl from $100.23 a year earlier, while average prices for natural gas fell 27%.
- NBL says it remains on track with its capital budget of $2.9B for the year after announcing plans in February to cut its 2015 capex plans by ~40%.
Tue, May 5, 7:36 AM
Mon, May 4, 5:30 PM
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Thu, Feb. 19, 8:26 AM
- Noble Energy (NYSE:NBL) plans a 40% reduction in capital spending for 2015 to $2.9B, in the latest example of an energy company that has slashed its spending plans in the wake of sharply lower oil prices.
- At the same time, NBL forecasts total 2015 sales volumes of 295K-315K boe, representing 5% growth at the midpoint of the range, after adjusting for assets divested in 2014.
- The capital program comprises 60% toward core U.S. onshore assets, 35% for global offshore development activities and 5% for global offshore exploration.
- In NBL's Q4 earnings results, the sharp drop in oil prices cut into revenue and offset higher sales volumes; estimated reserves at year-end 2014 were 1.4B boe.
Thu, Feb. 19, 7:31 AM
Wed, Feb. 18, 5:30 PM| Wed, Feb. 18, 5:30 PM | 7 Comments
Oct. 28, 2014, 10:49 AM
- Noble Energy (NBL +0.8%) is modestly higher after reporting Q3 earnings that missed estimates but more than doubled from the previous year while revenues slipped 9% as it realized lower prices for crude oil and natural gas liquids.
- NBL says total sales volumes rose 3% Y/Y to average 302K boe/day, its highest ever and a 3% Y/Y increase, and that the growth would be 10% after taking into account assets the company had sold since Q3 2013.
- Average realized prices for crude oil and condensates fell 9%, average realized prices increased 5% for natural gas, and natural gas liquids prices fell 5.5%.
- Total Q3 operating expenses grew 19%.
- Sees Q4 volumes of 307M-327M boe/day; the midpoint of the updated sales volume range represents a 15% gain over Q4 of last year after adjusting for the impact of the sale of its Piceance Basin assets.
Oct. 28, 2014, 7:30 AM
Oct. 27, 2014, 5:30 PM
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