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


Noble Energy Inc. registered favorable earnings and revenue growth in the first quarter of 2014 on the back of robust production from its onshore U.S. as well as international assets. Plenty of growth opportunities are on the horizon for Noble Energy as the DJ and Marcellus basins are poised for increased production. The gradual start-up of several pipeline and gas processing facilities will further support the growth momentum in the future. Internationally, capacity expansion projects at the Tamar play and advancement of the Leviathan prospect will boost Noble Energy's supply capability to satisfy the gas hungry Middle Eastern markets. However, concerns arising from oil and gas price volatilities and operational disruption due to accidents and natural disaster will always be there. We maintain our Neutral recommendation on the stock.


Noble Energy Inc. based in Houston, TX, 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 in offshore U.S., West Africa and Eastern Mediterranean.

The operations are spread over the deepwater Gulf of Mexico (GoM), the Rocky Mountains region (Piceance and Powder River Basins, Bowdoin, Tri-State, Haynesville and Comanche Plains fields), the offshore Equatorial Guinea, Cameroon, Sierra Leone, Israel and Cyprus.

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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