Thursday, June 4, 2020

Noble Energy News

Gas Output to Resume at Israel's Leviathan After Brief Halt

File photo: Noble Energy

Production at Israel's offshore Leviathan natural gas field will resume in the coming hours after an emergency shutdown on Saturday, the project's operator Noble Energy said [on Saturday].The platform's flare system had been activated to burn off excess gas, generating a flame visible from shore, in what Israel's Energy Ministry called an…

U.S. Oil Firms' Quarterly Reports to Show Depths of Slump

Illustration by Namning, AdobeStock

Investors are in for more bad news on the energy front in the coming weeks as a host of the sector's biggest companies report quarterly results following the historic collapse in oil prices.Forecasts for U.S. energy sector earnings this year have dropped along with oil prices, weighing on shares along with worries over debt, layoffs and possible…

Leviathan Gas Exports Expected by Month's End

(Photo: Noble Energy)

Israel's largest offshore natural gas field, Leviathan, will begin supplying the local market by the end of this month, with exports to Egypt and Jordan following shortly after, an official from the field's operator said on Monday."Within 2-3 weeks we will open the wells and start to supply the gas," said Binyamin Zomer, vice president for regional affairs at Texas-based Noble Energy, reaffirming the company's pledge to b

Leviathan Platform Starts Voyage to Israel

(Image: Delek Drilling)

The gas platform for the Leviathan natural gas field is on its way to Israel from the Gulf of Mexico, the partners in the project said on Sunday.The first of four barges transporting the production structure units has left Texas and the other three will set sail in the coming weeks. In September, all the units will be installed on the jacket…

Dominican Republic Kicks Off Licensing Round

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The Dominican Republic's first oil licensing round will be a success if it awards more than two of the 14 blocks on offer this year, a government official said at an event disclosing the Caribbean nation's fiscal terms.The licensing round, which began on Wednesday with disclosure of contract terms, comes after Brazil, Guyana and Mexico attracted billions of dollars in oil investment.

Noble Energy Posts Bigger-than-expected Loss

(Photo: Noble Energy)

Noble Energy Inc reported a bigger-than-expected quarterly loss on Friday, as the U.S. oil and gas producer was hit by weak crude prices.U.S. crude prices averaged $54.9 per barrel in the first quarter, a 12.8 percent fall compared to the year-ago period.Noble realized $53.46 for each barrel of crude and condensate from its onshore operations in the United States, compared with $61.50 per barrel a year earlier.U.S.

New Pipeline Coming Offshore Equatorial Guinea

(Photo: Noble Energy)

Noble Energy and partners will build a pipeline linking Equatorial Guinea's offshore gas fields to an onshore liquefied natural gas (LNG) plant to boost exports, the African nation's government said on Monday.Under a deal with the government the 70 km (44 miles) pipe will have capacity for 950 million cubic feet of gas per day from fields operated by Noble and will be ready in the first quarter of 2021.Once liquefied at t

US Offshore Drilling Takes Center Stage

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U.S. lawmakers will quiz President Donald Trump’s new pick to lead the Interior Department on Thursday, focusing on the former energy and mining lobbyist’s plans to expand fossil fuels production from the United States' public lands and waters.The Interior Department, which oversees more than a fifth of the U.S. land surface from Alaska to the Gulf of Mexico…

Noble Energy Q4 Disappoints, Lower CapEx Coming

File Image: AdobeStock / © Shamtor

Noble Energy posted quarterly profit on Tuesday that fell short of analysts' estimates, and forecast lower capital expenditure for 2019 citing a drop in oil prices.An unexpected drop in global crude oil prices and tight pipeline capacity in U.S. shale basins have prompted many energy firms to cut their capital spending targets for the year.Noble…

FLNG Market Grows a CAGR of +93%

FLNG: Shell Global

Global floating liquefied natural gas (FLNG) market is growing at a CAGR of +93% during forecast period 2019-2026 as the demand for natural gas has been rising as it is a preferred fuel in power generation in various industries.According to a report from Research N Reports, the demand comes from mainly for the regions such as North America…

Equatorial Guinea to Offer Ophir's Old Blocks

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Equatorial Guinea will offer offshore Block R with the related Fortuna gas development project in the April licensing round, after the concession was reclaimed from Ophir Energy Plc, the oil minister said on Tuesday.Gabriel Obiang Lima told Reuters in Cape Town that Block R would be one of up to 13 deepwater and ultra deepwater blocks offered…

Delek Drilling to Spin Off Tamar Stake

Tamar Platform (Photo: Albatross Aerial Perspective Ltd. / Delek Drilling)

Israel's Delek Drilling is looking to spin off its remaining 22 percent stake in the offshore Tamar gas field in 2019, the company's chief executive said on Monday.Last year Delek spun off an initial 9.25 percent of Tamar into a new company in Tel Aviv called Tamar Petroleum. It said at the time it expected to get $980 million for the sale.CEO Yossi Abu said Delek Drilling is now focusing abroad…

Gabon Launches Offshore Exploration Round

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Gabon plans to scrap a 35 percent corporate tax on energy companies as part of a revised hydrocarbons law and has launched a new offshore oil and gas exploration licensing round for 34 blocks, Oil Minister Pascal Ambouroue said on Wednesday.In March, Gabon, a member of the Organization of the Petroleum Exporting Countries, said it planned to revise its hydrocarbons code…

Noble Energy Beats Street

(Photo: Noble Energy)

U.S. oil and gas producer Noble Energy Inc reported a better-than-expected quarterly profit on Thursday, as the company boosted oil production and sold at higher prices.Sales volumes from the company's U.S. onshore business, its biggest, rose 17.2 percent in the third quarter to 109,000 barrels of oil equivalent per day.The company said average realized prices for U.S.

Noble Energy Cashes Out of Tamar Petroleum After Egypt Gas Deal

Tamar (Photo: Noble Energy)

Texas-based Noble Energy sold its 43.5 percent stake in Israel's Tamar Petroleum after announcing last week that it would help finance a gas export deal with Egypt, the Israeli business daily The Marker reported on Wednesday.Noble's sale of 40 million Tamar shares, at 15.50 shekels ($4.26) each, took place on the Tel Aviv Stock Exchange, The…

Israeli, Egyptian Partners Buy into Pipeline to Allow Gas Deal

Israeli and Egyptian partners have agreed to purchase 39 percent of the shares in the EMG pipeline for $518 million, a deal that will enable natural gas exports from Israel to Egypt to begin as early as the start of 2019, the companies said on Thursday.Under the deal, Israel's Delek Drilling and Texas-based Noble Energy who together have been developing Israeli gas fields, will each pay $185 million, while the Egyptian Ea

Noble Energy Profit Tops Estimates as Production Soars

Photo: Nobel Energy

Noble Energy Inc beat analysts' first-quarter profit estimates on Tuesday, helped by a 30 percent jump in U.S. onshore shale production and higher crude oil prices.West Texas Intermediate (WTI) light crude futures averaged at $62.89 per barrel during the quarter, up 21.5 percent from a year earlier.Noble, which drills oil wells in the DJ Basin as well as the Permian and Eagle Ford shale plays…

Noble Energy Q1 Profit Beats Street

File Image (CREDIT: AdobeStock / © Shamtor)

Oil and gas producer Noble Energy Inc beat analysts' first-quarter profit estimates on Tuesday, helped by a surge in onshore shale production and broadly higher oil prices. The company, which drills oil wells in the DJ Basin as well as the Permian and Eagle Ford shale plays, said its U.S. onshore oil production rose over 30 percent in the first quarter. "Our core positions in the U.S.

Fieldwood Hungry for US Offshore Output

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The Chief Executive of offshore oil and gas driller Fieldwood Energy LLC, Matt McCarroll, says he is not scared of the hurricanes, geological risks and costs that keep some oil companies out of the Gulf of Mexico. Instead, he is doubling down. The private equity-backed company - already the largest operator on the U.S. outer continental shelf…

Shale Producers Urge FERC to Deny Pipeline's Rate Request

File Image (CREDIT: AdobeStock / (c) Hanmaomin)

Top shale oil producers asked a U.S. regulator this week to reject White Cliffs pipeline's application to charge market-based rates for shipments from Platteville, Colorado, to the storage hub at Cushing, Oklahoma. U.S. shale producers ConocoPhillips Co, Kerr McGee Oil & Gas Onshore LP, a unit of Anadarko Petroleum Corp, Noble Energy Inc along…