Noble Energy Sees 3Q Volumes at Low End of Guidance
Noble Energy Inc. forecast third-quarter sales volume at the low end of its earlier guidance as efforts to restore production after Hurricane Isaac were delayed by flooding at third-party onshore facilities and minor equipment repairs.
The oil-and-gas explorer, which said production has returned to levels seen before Isaac, had forecast sales volumes of 242,000 to 250,000 barrels of oil equivalent a day.
Noble was one of many energy companies with a presence in the Gulf of Mexico to shut in its production ahead of the storm, which struck the Gulf Coast in August.
During August, Noble Energy reported that second-quarter earnings slipped 0.7% as operating expenses increased and realized prices for crude oil fell, though volume increased.
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- Fault at Israel's Tamar Gas Field Prompts Use of Dirtier Fuels (Sep 22)
- Leviathan Partners in Talks to Pipe Gas to Egypt Via Jordan (Aug 10)
- Deal Of The Month: Noble Energy Marches Out of Marcellus in Full $1.9B Exit (May 31)