Noble Energy Announces Second Quarter 2016 Sales Volumes of Approximately 425 MBoe/d
July 07 2016 - 7:50AM
Noble Energy, Inc. (NYSE:
NBL) (“Noble Energy” or
“the Company”) today announced second quarter 2016 expected sales
volumes of approximately 425 thousand barrels of oil equivalent per
day (MBoe/d). The amount represents a record quarterly total
for Noble Energy and is more than 3 percent beyond the midpoint of
the Company’s quarterly guidance range of 405 to 415 MBoe/d.
The outperformance was driven by continued strong operating
performance and execution across the Company. Significant
contribution to the higher volumes resulted from new wells online
in the Eagle Ford, including wells testing various lateral spacing
and completion techniques. In addition, Israel gas sales
volumes were higher than expected due to continued displacement of
coal by natural gas in electricity generation and seasonally warmer
weather than normal.
Second Quarter Results Webcast
The Company also announced that it will host its second quarter
2016 results webcast at 9:00 a.m., Central Time, on Wednesday,
August 3, 2016. The Company plans to issue its financial and
operating results, including supporting presentation materials,
prior to the market opening on the same day.
The live audio webcast link and related presentation material
will be accessible on the ‘Investors’ page of the Company’s website
at www.nobleenergyinc.com. A replay of the event will be
available at the same web location for 90 days.
Noble Energy (NYSE: NBL) is an independent oil
and natural gas exploration and production company with a
diversified high-quality portfolio of both U.S. unconventional and
global offshore conventional assets spanning three continents.
Founded more than 80 years ago, the company is committed to safely
and responsibly delivering our purpose: Energizing the World,
Bettering People’s Lives®. For more information, visit
www.nobleenergyinc.com.
Forward Looking Statements
This news release contains certain “forward-looking statements”
within the meaning of federal securities law. Words such as
“anticipates”, “believes”, “expects”, “intends”, “will”, “should”,
“may”, and similar expressions may be used to identify
forward-looking statements. Forward-looking statements are
not statements of historical fact and reflect Noble Energy’s
current views about future events. They may include estimates
of oil and natural gas reserves, estimates of future production,
assumptions regarding future oil and natural gas pricing, planned
drilling activity, future results of operations, projected cash
flow and liquidity, business strategy and other plans and
objectives for future operations. No assurances can be given
that the forward-looking statements contained in this news release
will occur as projected and actual results may differ materially
from those projected. Forward-looking statements are based on
current expectations, estimates and assumptions that involve a
number of risks and uncertainties that could cause actual results
to differ materially from those projected. These risks
include, without limitation, the volatility in commodity prices for
crude oil and natural gas, the presence or recoverability of
estimated reserves, the ability to replace reserves, environmental
risks, drilling and operating risks, exploration and development
risks, competition, government regulation or other actions, the
ability of management to execute its plans to meet its goals and
other risks inherent in Noble Energy’s business that are discussed
in its most recent annual report on Form 10-K and in other reports
on file with the Securities and Exchange Commission. These reports
are also available from Noble Energy’s offices or website,
http://www.nobleenergyinc.com. Forward-looking statements are
based on the estimates and opinions of management at the time the
statements are made. Noble Energy does not assume any
obligation to update forward-looking statements should
circumstances, management’s estimates, or opinions change.
Investor Contacts
Brad Whitmarsh
(281) 943-1670
brad.whitmarsh@nblenergy.com
Megan Repine
(832) 639-7380
megan.repine@nblenergy.com
Media Contacts
Reba Reid
(713) 412-8441
media@nblenergy.com
Paula Beasley
(281) 876-6133
media@nblenergy.com
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