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Stock Market & Financial Investment News

News Breaks
February 24, 2014
07:13 EDTNBLNoble Energy initiated with a Buy at KLR Group
Target $91.
News For NBL From The Last 14 Days
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October 1, 2014
08:46 EDTNBLNoble Energy to resume exploration drilling in Falklands in 2015
Noble Energy confirmed plans to resume exploration drilling in the Falkland Islands in 2015 following the acquisition and evaluation of an extensive 3D seismic program over portions of the Company's 10 million acre position. The company's initial operated prospect has been named Humpback and is located in the Fitzroy sub-basin of the Southern Area License. The Humpback prospect is one of multiple stacked fan prospects clustered together in the sub-basin. This group of prospects combined has an estimated gross unrisked resource potential of approximately 1B barrels of oil equivalent. The company anticipates drilling operations at Humpback to begin in mid-2015, dependent on rig arrival. Noble Energy is currently finalizing prospect locations for a second exploration well, planned for later in 2015 following results at Humpback. Noble Energy operates its licenses offshore the Falkland Islands with a 35 percent working interest. In addition, the Scotia well, which was drilled in 2012 utilizing 2D seismic interpretation, has now been deemed non-commercial following evaluation of the 3D seismic data and full integration of well results into the company's geologic models. Noble Energy has updated its guidance for third quarter 2014 exploration expense to between $230M-$240M, including approximately $75M related to the Scotia well decision. Due to the increased exploration expense, the company expects its third quarter 2014 adjusted effective tax rate to be 35%-38%, with most of the tax provision representing current taxes.

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