Noble Energy (NBL) PT Rises to $42 - Jefferies
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Noble Energy Announces Solid First Quarter 2016 Results
May 4, 2016 7:02 AM EDTQuarterly capital expenditures totaled $374 million, below the low end of guidance. Full-year 2016 capital expected to be less than the original $1.5 billion estimate.Delivered substantial cost reductions versus guidance and the prior year. On a BOE basis, LOE averaged $3.63 (excluding the Isabela workover in the Gulf of Mexico), down 34 percent from the first quarter of last year.Maintained robust financial position, including $5 billion in liquidity, comprised of cash and a $4 billion undrawn credit facility.  The Companys investment grade credit ratings were affirmed by all three credit rating agencies.Reported quarterly sales... More
