Ya'acov Zalel
Noble Energy recorded a net loss of $144mn in Q3, halving its Q3 2015 loss of $286mn. The company's most profitable region was Israel, where the company recorded revenues of $150mn and income before taxes of $135mn. That compares to $647mn revenues from operations in the US and a loss before taxes of $407mn.
Noble reported record sales in Israel following the decision by the energy ministry to accelerate the use of natural gas for power generation by 15% from 2015 to 2016.
Noble sold 310mn ft³/d in Israel, an increase of 2.3%. The average gas price in Israel was $5.22/mn Btu while in the US the average price was $2.38/mn Btu.
In an analyst press conference David Stover, Noble President and CEO said the "excellent progress on Leviathan [was achieved] and have line of sight on projects sanctioned around the end of the year or early next year." So far Leviathan has contracted 450mn ft³/d for 15 years which Noble estimates at $12bn.
In two weeks time Noble said it will hold an investor call to elaborate on its capital expenditure plans for future projects.
SOURCE
Noble reported record sales in Israel following the decision by the energy ministry to accelerate the use of natural gas for power generation by 15% from 2015 to 2016.
Noble sold 310mn ft³/d in Israel, an increase of 2.3%. The average gas price in Israel was $5.22/mn Btu while in the US the average price was $2.38/mn Btu.
In an analyst press conference David Stover, Noble President and CEO said the "excellent progress on Leviathan [was achieved] and have line of sight on projects sanctioned around the end of the year or early next year." So far Leviathan has contracted 450mn ft³/d for 15 years which Noble estimates at $12bn.
In two weeks time Noble said it will hold an investor call to elaborate on its capital expenditure plans for future projects.
SOURCE
