Noble Energy (NBL): New Analyst Report from Zacks Equity Research - Zacks Equity Research Report


In third-quarter 2014, Noble Energy's earnings and revenues missed the Zacks Consensus Estimate and also declined year over year. Lower total sales volumes and average realized prices adversely impacted the top line and consequently the bottom line. The company's steady focus on new discovery, operations at the Denver-Julesburg (DJ) as well as the Marcellus basins and addition of service capacity mainly in the Eastern Mediterranean operations are expected to boost its future performance. However, concerns arising from oil and gas price volatilities and operational disruption due to accidents and natural disaster are potential risks. Thus, we are maintaining our Neutral recommendation on the stock.


Houston, TX-based Noble Energy Inc. is an independent oil and gas exploration and production (E&P) company, having high-grade hydrocarbon assets across the U.S. and several international locations.

Noble Energy chiefly focuses on organic growth from exploration and development drilling activities. This is further strengthened by strategic mergers and acquisitions. The company is actively engaged in periodic divestments to upgrade its portfolio. Noble Energy gains from the strategic competitive advantage of selected basin sites for superior yield on returns.

Noble Energy has operations in five core areas the Denver/Julesburg (DJ) Basin in onshore U.S., the Marcellus Shale also in onshore U.S., the deepwater Gulf of Mexico (GoM) in offshore U.S., West Africa and Eastern Mediterranean.

The operations are spread over the deepwater Gulf of Mexico (GoM), the Rocky Mountains region (Powder River Basins, Bowdoin, Tri-State, Haynesville and Comanche Plains fields), the offshore Equatorial Guinea, Cameroon, Sierra Leone, Israel and Cyprus. Other international operations are spread across the North Sea, China, Falkland Islands and Nicaragua

At the end of 2013, Noble Energy had total proved reserves of 1,406 million barrels of oil equivalent (MMboe). In the domestic operations, DJ Basin had proved reserves of 450 MMboe. On the international front, Israel had total crude oil, condensate, natural gas liquids (NGL) and natural gas reserves of 416 MMboe.

Source: Company

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

This article appears in: Investing , Stocks

Referenced Stocks: NGL , NBL

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