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Noble Energy says spending to rise to $4.8 bln in 2014

Tuesday, 17 Dec 2013 | 8:48 AM ET

Dec 17 (Reuters) - Noble Energy Inc said it expected capital spending to rise 23 percent to $4.8 billion in 2014, with 70 percent of the budget allocated to its onshore operations in the United States.

The company said a majority of its 2014 budget would be spent on operations in Colorado's Denver-Julesburg Basin, where sales volumes are expected to rise 28 percent next year.

A chunk of the budget will also be spent on the so-called wet gas area of the Marcellus Shale, the company said.

Sales volumes are expected to nearly double from Noble Energy's operations in the Marcellus Shale in southwest Pennsylvania and northwest West Virginia next year.

Total sales volumes from continuing operations are expected to average 302,000-322,000 barrels of oil equivalent per day in 2014, a rise of roughly 18 percent from this year's target.

Liquids are expected to make up 46 percent of the volumes.

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