TheMarker Aug 04, 2016 1:25 AM
Noble Energy said yesterday that it pumped 28% more natural gas in Israel in the second quarter, a record average of 276 million cubic feet of natural gas equivalent per day. Israel Electric Corporation is increasingly substituting natural gas for coal and signing up industrial customers. Even though sales volumes globally for the Texas-based company climbed 43% year on year to 427,000 barrels of oil equivalent per day, Noble reported an adjusted net loss of $103 million, or 24 cents per diluted share, turning around a $101 million, or 26-cent-a share, profit over the same period in 2015. The company raised its full-year sales volume guidance to approximately 415 million barrels per day and maintained its capital budget of less than $1.5 billion for the year. Noble’s loss was narrower than analysts‘ forecasts of 29 cents, but the share was nevertheless down 2.6% to $33.56 in New York midday local time. (Eran Azran)
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