Noble Energy recent underperformance not justified, says FBR Capital FBR Capital believes the year-to-date underperformance of Noble Energy shares relative to peers is not justified. The firm says Noble's peer group has appreciated nearly twice as much. FBR thinks Noble could report better than expected production in the second half of 2014 and it keeps an Outperform rating on the stock with a $105 price target.
Noble Energy reports no commercial hydrocarbons in Madison exploration well Noble Energy announced that the Madison exploration well in the Gulf of Mexico reached the targeted Upper and Middle Miocene objectives and did not encounter commercial hydrocarbons. Drilled to a total depth of 16,859 feet on Mississippi Canyon 479, the well has been plugged and abandoned and the drilling rig has been released. Noble Energy operated the well with a 60% working interest and Stone Energy Offshore, had the remaining 40%.