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| 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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Jul. 24, 2014, 11:49 AM
- Noble Energy (NBL -3.6%) is sharply lower after Q2 earnings were cut in half from a year ago, as higher expenses masked a rise in revenue.
- Q2 revenue rose 20% Y/Y to $1.38B, total sales volumes jumped 13%, average realized prices for crude oil and condensates rose 5.9%, while average realized prices gained 15% for natural gas liquids and 10% for natural gas.
- Total oil and gas production rose 14% to 290K boe/day; NBL expects to produce 290K-305K boe/day in Q3 and 310K-330K boe/day in Q4.
- While production from the Denver-Julesburg basin rose in the quarter, NBL says the output fell below its expectations due to downtime at a third-party processing plant and facility upgrades at more than 60 wells.
- Total operating expenses for Q2 rose 8.4%.
Jul. 24, 2014, 7:31 AM
Apr. 24, 2014, 8:36 AM
- Noble Energy (NBL) is flat premarket after Q1 earnings beat expectations but fell 23% Y/Y, as higher expenses offset a rise in revenue.
- Revenues rose to $1.38B from $1.14B as crude, natural gas and natural gas liquids sales all increased, but total operating expenses soared to $975M from $718M; NBL also booked an asset impairment of $97M after having none in the year-ago period.
- Q1 production rose to 286K boe/day from 246K in the same period last year, with U.S. production alone climbing 12% to 163K boe/day; for Q2, NBL expects to produce 290K-296K boe/day.
- Revises FY 2014 volume guidance to 302K-310K boe/day, due to the expected closing of an asset sale in Bohai Bay off China later this year and a U.S. onshore asset sale set to close this month.
Apr. 24, 2014, 7:29 AM
Feb. 6, 2014, 8:47 AM
- Noble Energy (NBL) -1.6% premarket after posting lower than expected Q4 earnings due to a spike in exploration, transportation and other costs.
- Q4 sales volumes from continuing operations rose 16% to 293K boe, exceeding NBL's previously announced forecast.
- Average realized crude oil and condensate prices gained 0.1%, while average realized prices rose 6.8% for natural gas liquids and 14% for natural gas.
- Operating expenses jumped 22% Y/Y to $980M, as exploration expenses more than doubled.
- NBL expects to produce 280K-288K boe/day in Q4, up ~18% Y/Y; FY 2014 volume guidance remains at 302K-322K boe/day.
Feb. 6, 2014, 7:34 AM| Comment!
Feb. 6, 2014, 12:05 AM
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