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.

Copyright (c) 2012 Dow Jones & Company, Inc.


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