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 announces Cheetah exploration results offshore Cameroon Noble Energy announced that the Cheetah exploration well in the Tilapia license offshore Cameroon reached the targeted Cretaceous interval and is being plugged and abandoned. The well encountered both crude oil and natural gas shows in multiple non-commercial reservoir sands. Results from the well are being integrated into the Company's geologic modeling for the remaining prospectivity in the Tilapia license. The rig, which drilled the Cheetah well to a total depth of approximately 13,320 feet, will be released at the completion of well operations. Noble Energy operated the Cheetah well with a 47% participating interest.