After losses last year, Noble’s Q3 earnings back in black

HOUSTON — Noble Energy Inc. (NYSE: NBL), a Texas-based oil and gas operator with a large presence in Weld County, posted earnings per share of 27 cents for the third quarter of fiscal year 2018. Noble had losses of 2 cents per share during the same quarter last year.

Total company sales volumes for the quarter that ended Sept. 30 were 345 thousand barrels of oil equivalent per day (MBoe/d), up 8 percent over the third quarter of 2017.

“Strong volumes across all business units, cost management, and improved price realizations delivered our highest quarterly operating cash flow in the last four years,” Noble CEO David Stover said in a prepared statement. “ During the quarter, we accelerated the return of capital to shareholders, allocating $157 million to share repurchases and dividends.  With a deep inventory of high-return projects across our global portfolio and disciplined capital allocation, we are poised to deliver differentiated shareholder returns.”

Earlier this week, Noble won approval from the Colorado Oil and Gas Commission for a plan to drill hundreds of new oil and gas wells on a 100-square-mile swath of unincorporated Weld County east of Greeley.

on Facebook on LinkedIn