Noble Energy Provides 2015 Guidance
Noble Energy, Inc. (NYSE: NBL) today announced its 2015 guidance, which includes anticipated capital investments of $2.9 billion and total sales volumes of between 295 and 315 thousand barrels of oil equivalent (MBoe/d).
This represents an approximate 40 percent reduction in capital from 2014 and volume growth of 5 percent at the midpoint of the range, after adjusting for assets divested in 2014.
David L. Stover, Noble Energy’s President and CEO, stated, “The 2015 budget is designed to align the capital program with the investment environment and cash flow from operations, while maintaining our financial strength and providing for modest growth across the business. In a highly uncertain commodity environment, this program retains substantial operating and financial flexibility to adjust our plans while allowing us to take advantage of value-creating opportunities that may arise. We have already captured significant cost savings, which should enhance margins as we move through the year. Our high-quality and diverse portfolio positions us to extend growth into 2016 at even lower capital levels than this year.”
Full Release: 2015 Guidance
Source: Noble Energy