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Noble Energy quarterly net income more than doubles
[HOUSTON] Oil and natural gas producer Noble Energy Inc said on Tuesday its third-quarter net income more than doubled on an increase in natural gas sales and prices.
The company reported net income of US$419 million, or US$1.12 per share, compared with US$205 million, or 56 US cents per share, in the year-ago quarter.
However, excluding a US$397 million charge for oil and natural gas hedging, which analysts typically do not factor into estimates, Noble Energy earned US$110 million.
Total sales volumes rose 3 per cent to 302,000 barrels of oil equivalent per day (boe/d).
Noble Energy expects fourth-quarter sales volumes of about 307,000 to 327,000 boe/d.