Noble Hits High End of Guidance in 3Q and Looks Ahead to Leviathan Startup
Noble delivered production of 345 mboe/d in the third quarter, which was 2% higher sequentially and at the high end of prior guidance. Management expects fourth-quarter output to stay around that level, with growth in the DJ Basin and West Africa offsetting declines in the Eagle Ford and Israel (the latter is a seasonal effect, as overall demand is still growing). Full-year guidance was unchanged, although we note that the midpoint of fourth-quarter guidance implies full-year volumes will end up...Noble Energy is an independent energy company, engaged in crude oil and natural gas exploration and production. The company's operating areas include: U.S. onshore, primarily the DJ Basin, Delaware Basin and Eagle Ford Shale; U.S. offshore Gulf of Mexico; Eastern Mediterranean; and West Africa. The company's Midstream segment develops, owns, operates and acquires domestic midstream infrastructure assets, or invests in other midstream entities, with existing focus areas being the DJ and Delaware Basins. The company's activities include geophysical and geological evaluation; analysis of commercial, regulatory and political risks; and exploratory and development drilling leading to production, where appropriate.
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