Noble Energy’s Second Quarter Results Analysis
Sep. 11, 2018 10:02 AM ET|
Noble Energy’s total revenues increased by 16.1% year over year to $1,230 million in the second quarter and down 4.4% sequentially.
Noble Energy underwent a significant change to become a company with a more in-depth focus on onshore oil and gas production in the U.S.
NBL is a possible long-term second-choice, especially for an investor who desires to participate in every segment of the oil production segment, including midstream US.
Source: NBL Presentation
The Leviathan development project is now about 60% completed, and first gas is expected in the Fourth Quarter 2019.
The company said in the conference call:
Offshore, the development of our world-class Leviathan asset is rapidly moving forward. We have agreements for over 900 million cubic feet per day, including the natural gas contracts announced earlier this year. And we continue to negotiate additional volumes that could quickly fill up the first phase. I’m also pleased that we’re making excellent progress on commercial agreements to deliver our gas from Tamar and Leviathan into Egypt to help supply the growing regional demand