Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Nyse  >  Noble Energy, Inc.    NBL

News SummaryMost relevantAll newsSector newsTweets 

Noble Energy, Inc. : Noble Energy Swings To 4Q Loss Amid Asset Writedowns

share with twitter share with LinkedIn share with facebook
share via e-mail
02/09/2012 | 02:29pm CEST

Noble Energy Inc. (>> Noble Energy, Inc.) swung to a fourth-quarter loss amid $620 million in asset writedowns and negative hedging impacts, though the oil and gas explorer's revenue continued to benefit from higher average realized oil and natural-gas prices.

Noble estimated its 2012 capital spending plans at $3.5 billion, with 51% allocated to U.S. onshore projects, 22% to the Eastern Mediterranean, 14% to West Africa and 7% to deepwater projects in the Gulf of Mexico. Allocations also include China and the North Sea.

Production is expected to increase between 244,000 and 256,000 barrels of oil equivalent per day. Nearly all of the projected growth is in crude oil and condensate, which is expected to increase 40%. The company expects production in the current quarter to remain mostly unchanged from fourth-quarter levels.

Noble Energy in November said it plans to gradually increase its capital spending to $5 billion a year in 2016 from the $3 billion anticipated for 2011.

Noble Energy in December announced a major natural-gas discovery the waters near Cyprus, building on a string of recent successes in the area known as the greater Levant basin. The company and its partners have made several discoveries in the basin, which is off the coasts of Cyprus, Israel, Lebanon and Syria--which could help make the area a major natural-gas exporter.

Noble reported a loss of $296 million, or $1.67 a share, from a year-earlier profit of $52 million, or 29 cents a share. Excluding the writedown, derivatives impacts and other items, earnings were up at $1.18 and $1.04. Revenue increased 26% to $985 million. Analysts polled by Thomson Reuters most recently projected earnings of $1.17 on revenue of $965 million.

Production from Houston-based Noble Energy, which has core operations are in the U.S., West Africa and Israel, grew 6.4% to 233 million barrels of oil equivalent per day.

The latest period was expected to include production from Noble's Pennsylvania's Marcellus Shale joint venture with Consol Energy Inc. (>> CONSOL Energy Inc.). The company's $3.4 billion deal for a 50% stake in Consol's Marcellus shale field closed in October, giving it a foothold in one of the world's most prolific natural-gas regions.

Shares closed Wednesday at $104.36 and were inactive premarket. The stock is up about 17% in the past year.

-By Tess Stynes, Dow Jones Newswires; 212-416-2481; [email protected]

Stocks mentioned in the article : Noble Energy, Inc., CONSOL Energy Inc.
share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on NOBLE ENERGY, INC.
04/17 NOBLE ENERGY : and Clayton Williams Energy Announce Deadline for Election of For..
04/17 NOBLE ENERGY : Weld County oil and gas spill report for April 17
04/13 NOBLE ENERGY : Sandvik Materials Technology Wins Order For Leviathan Gas Field
04/12 NOBLE ENERGY INC : Other Events, Financial Statements and Exhibits (form 8-K)
04/12 Noble Energy and Clayton Williams Energy Announce Deadline for Election of Fo..
04/10 Noble Energy Will Host Its First Quarter 2017 Results Conference Call and Web..
04/02 ENERGY PIPELINE : News briefs
03/27 DENBURY RESOURCES INC. (NYSE : DNR) Files An 8-K Departure of Directors or Certa..
03/26 NOBLE ENERGY : Activists continue protests against gas deal with Israel
03/20 NOBLE ENERGY : to Present at Upcoming Energy Conference
More news
Sector news : Oil & Gas Exploration and Production - NEC
04/21 TSX ends lower as banks weigh, energy shrugs off oil fall
04/20DJWoodside Quarterly Revenue Dented by Storms, Rainfall
04/19 TSX falls as oil slide hits energy stocks
04/19DJConocoPhillips Considers Expansion of Australian Gas-Export Operation
04/19DJOil Search Sticks to Production Target Despite Drop for Quarter
More sector news : Oil & Gas Exploration and Production - NEC
News from SeekingAlpha
04/14 Soaring Shale Productivity Will Continue To Surprise To The Upside
04/09 Analysts Say These Large Cap Stocks Are Seriously Undervalued
04/03 THE RUN CONTINUES : Our Core Portfolio Is Up 14.23% In Q1 2017
03/30 Schlumberger Is A Buy - Cramer's Lightning Round (3/29/2017)
03/15 Noble Energy approved to drill additional Leviathan well
Financials ($)
Sales 2017 4 482 M
EBIT 2017 223 M
Net income 2017 -68,6 M
Debt 2017 7 049 M
Yield 2017 1,17%
P/E ratio 2017 -
P/E ratio 2018 82,71
EV / Sales 2017 4,85x
EV / Sales 2018 4,03x
Capitalization 14 702 M
More Financials
Duration : Period :
Noble Energy, Inc. Technical Analysis Chart | NBL | US6550441058 | 4-Traders
Full-screen chart
Technical analysis trends NOBLE ENERGY, INC.
Short TermMid-TermLong Term
Technical analysis
Income Statement Evolution
More Financials
Mean consensus OUTPERFORM
Number of Analysts 34
Average target price 47,5 $
Spread / Average Target 39%
Consensus details
EPS Revisions
More Estimates Revisions
David L. Stover Chairman, President & Chief Executive Officer
Gary W. Willingham Executive Vice President-Operations
Kenneth M. Fisher Chief Financial Officer & Executive Vice President
Edward F. Cox Independent Director
Michael A. Cawley Lead Independent Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
NOBLE ENERGY, INC.-10.27%14 702
CNOOC LTD-6.22%51 938
More Results