×

Noble Energy 3rd qtr loss beats Wall Street's expectations

HOUSTON, Oct 30 (Reuters) - U.S. oil and natural gas producer Noble Energy Inc posted a smaller-than-expected quarterly loss on Monday, helped by cost cuts and rising commodity prices.

The company also raised its fourth-quarter U.S. shale oil production forecast, now seeing it rising 15 percent sequentially.

Noble reported a third quarter net loss of $136 million, or 28 cents per share, compared to a net loss of $144 million, or 33 cents per share, in the year-ago period.

Excluding one-time items, Noble lost 2 cents per share. By that measure, analysts were expecting a loss of 13 cents per share, according to Thomson Reuters I/B/E/S.

Production fell about 17 percent to 355,000 barrel of oil equivalent per day due in part to asset sales. (Reporting by Ernest Scheyder; Editing by Sandra Maler)