Houston, July 07, 2016 (GLOBE NEWSWIRE) -- Noble Energy, Inc. (NYSE: NBL) (“Noble Energy” or “the Company”) today announced second quarter 2016 expected sales volumes of approximately 425 thousand barrels of oil equivalent per day (MBoe/d). The amount represents a record quarterly total for Noble Energy and is more than 3 percent beyond the midpoint of the Company’s quarterly guidance range of 405 to 415 MBoe/d. The outperformance was driven by continued strong operating performance and execution across the Company. Significant contribution to the higher volumes resulted from new wells online in the Eagle Ford, including wells testing various lateral spacing and completion techniques. In addition, Israel gas sales volumes were higher than expected due to continued displacement of coal by natural gas in electricity generation and seasonally warmer weather than normal.
Second Quarter Results Webcast
The Company also announced that it will host its second quarter 2016 results webcast at 9:00 a.m., Central Time, on Wednesday, August 3, 2016. The Company plans to issue its financial and operating results, including supporting presentation materials, prior to the market opening on the same day.
The live audio webcast link and related presentation material will be accessible on the ‘Investors’ page of the Company’s website at www.nobleenergyinc.com. A replay of the event will be available at the same web location for 90 days.
Noble Energy (NYSE: NBL) is an independent oil and natural gas exploration and production company with a diversified high-quality portfolio of both U.S. unconventional and global offshore conventional assets spanning three continents. Founded more than 80 years ago, the company is committed to safely and responsibly delivering our purpose: Energizing the World, Bettering People’s Lives®. For more information, visit www.nobleenergyinc.com.
Forward Looking Statements
This news release contains certain “forward-looking statements” within the meaning of federal securities law. Words such as “anticipates”, “believes”, “expects”, “intends”, “will”, “should”, “may”, and similar expressions may be used to identify forward-looking statements. Forward-looking statements are not statements of historical fact and reflect Noble Energy’s current views about future events. They may include estimates of oil and natural gas reserves, estimates of future production, assumptions regarding future oil and natural gas pricing, planned drilling activity, future results of operations, projected cash flow and liquidity, business strategy and other plans and objectives for future operations. No assurances can be given that the forward-looking statements contained in this news release will occur as projected and actual results may differ materially from those projected. Forward-looking statements are based on current expectations, estimates and assumptions that involve a number of risks and uncertainties that could cause actual results to differ materially from those projected. These risks include, without limitation, the volatility in commodity prices for crude oil and natural gas, the presence or recoverability of estimated reserves, the ability to replace reserves, environmental risks, drilling and operating risks, exploration and development risks, competition, government regulation or other actions, the ability of management to execute its plans to meet its goals and other risks inherent in Noble Energy’s business that are discussed in its most recent annual report on Form 10-K and in other reports on file with the Securities and Exchange Commission. These reports are also available from Noble Energy’s offices or website, http://www.nobleenergyinc.com. Forward-looking statements are based on the estimates and opinions of management at the time the statements are made. Noble Energy does not assume any obligation to update forward-looking statements should circumstances, management’s estimates, or opinions change.
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Source:Noble Energy Inc.