Jordan Blum
Houston's Noble Energy reported a $313 million quarterly loss Friday as it gears up for big growth from West Texas to the Eastern Mediterranean.
Noble's loss compares to a $554 million profit a year ago. Noble's first-quarter revenues also fell from $1.29 billion in 2018 down to $1.05 billion at the start of 2019.
However, Noble said it is growing production and keeping costs down as it develops its large acreage holdings in West Texas' booming Permian Basin that it has acquired within the last four years.
Also, Noble plans to bring its massive Leviathan natural gas project offshore of Israel online by the end of this year. Noble said Friday that the project is 81 percent complete.
