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.
09/24 NOBLE ENERGY : Tamar breakdown may raise electricity rates
09/22 Noble Energy Will Host Its Third Quarter 2017 Results Conference Call and Web..
09/01 Noble Energy is Contributing $1 Million to Support Hurricane Relief Efforts
09/01 NOBLE ENERGY : Combined Notice of Filings
08/31 ENSCO : Announces New Drillship Contract Award
08/31 Noble Energy to Present at Upcoming Energy Conference
08/30 NOBLE ENERGY : What is best price for Israeli gas to be commercially attractive?
08/24 NOBLE ENERGY : hires Enscos drillship for offshore work in Israel
08/23 ENSCO : DS-7 Contracted to Noble Energy in Mediterranean Sea
08/23 ENSCO : drillship wins contract with Noble Energy in Mediterranean Sea
More news
News from SeekingAlpha
09/19 Crude Oil And Why The Correlation To The Dollar Is A Farce
09/07 Noble Energy (NBL) Presents At Barclays CEO Energy-Power Conference - Slidesh..
08/28 WALL STREET BREAKFAST : Harvey Swamps U.S. Energy Engine
08/28 Harvey swamps U.S. energy engine
08/27 Quarter of Gulf oil output offline
Financials ($)
Sales 2017 4 119 M
EBIT 2017 -213 M
Net income 2017 -1 551 M
Debt 2017 6 549 M
Yield 2017 1,48%
P/E ratio 2017 -
P/E ratio 2018
EV / Sales 2017 4,78x
EV / Sales 2018 4,41x
Capitalization 13 146 M
Duration : Period :
Noble Energy, Inc. Technical Analysis Chart | NBL | US6550441058 | 4-Traders
Technical analysis trends NOBLE ENERGY, INC.
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 30
Average target price 35,2 $
Spread / Average Target 30%
EPS 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
Sector and Competitors
1st jan.Capitalization (M$)
NOBLE ENERGY, INC.-29.19%13 146
CNOOC LTD-1.55%54 319