Wednesday, June 19, 2019

Noble Energy News

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…

Noble Energy Contract for Schlumberger

Schlumberger today announced the award by Noble Energy of an engineering and supply contract for a two-thousand-ton single-lift process module to be installed on the Leviathan Platform in the Eastern Mediterranean. The scope of the contract includes pretreatment, salt removal and regeneration of monoethylene glycol (MEG) for reinjection in the subsea flowlines for hydrate inhibition.

US Shale Producers Promise Higher Output and Returns

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U.S. shale producers are telling investors impatient for better returns that they can keep boosting oil output aggressively and do so while still making money for shareholders. Investors have pushed top U.S. shale companies to focus on returns, rather than higher output, a move that threatened to slow the breakneck growth in supply sparked by the shale revolution in the world's top oil consumer.

Petrogress Enters Joint Venture with EDT Offshore

Petrogress, Inc. has announced that its Petrogress Int’l, LLC (PIL) subsidiary has entered into a Memorandum of Understanding (MoU) with EDT Agency Services, Ltd. (EDT Offshore) to combine the companies’ operations at the Port of Limassol and additional port facilities in Cyprus. The MoU covers shorebase and offshore support services from the Port of Limassol…

Greece Attracts Interest for Offshore Oil & Gas Tenders

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

Tenders for offshore oil and gas exploration and exploitation west and south of Greece have attracted "strong interest" from companies exploring in the Mediterranean, the head of Greece's oil and gas resources management company said on Wednesday. Greece launched the tenders after expressions of interest by a consortium of Exxon Mobil, Total…

Noble Energy Profit Beats Estimates

Photo: Nobel Energy

U.S. oil and gas producer Noble Energy Inc reported adjusted quarterly profit on Tuesday that easily beat analyst estimates due to cost cuts and higher crude prices, sending shares surging more than 7 percent in morning trading. The results came as Noble's U.S. shale oil production jumped in the fourth quarter through Dec. 31, reflecting the greater attention the industry is giving to improving profit and output.