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.

REUTERS