Noble Energy Announces Impact of Hurricane Isaac
HOUSTON, Oct. 1, 2012 /PRNewswire/ -- Noble Energy, Inc. (NYSE: NBL) announced today that its production in the Gulf of Mexico has returned to pre-hurricane Isaac levels. The production impact for the quarter is estimated to be nearly 7 thousand barrels of oil equivalent per day (MBoe/d), consisting of 80 percent oil and 5 percent natural gas liquids. As a result, the Company now expects quarterly volumes to be at the low end of the previously announced third quarter guidance range of 242 to 250 MBoe/d.
Noble Energy shut in its production before the hurricane reached the central Gulf of Mexico. The Company's efforts to restore production following the storm were delayed due to flooding at third party onshore facilities and by minor equipment repairs. The Company's current production in the Gulf of Mexico is 27 MBoe/d.
Noble Energy is a leading independent energy company engaged in worldwide oil and gas exploration and production. The Company has core operations onshore in the U.S., primarily in the DJ Basin and Marcellus Shale, in the deepwater Gulf of Mexico, offshore Eastern Mediterranean, and offshore West Africa. Noble Energy is listed on the New York Stock Exchange and is traded under the ticker symbol NBL. Further information is available at www.nobleenergyinc.com.
This news release contains certain "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Words such as "expects," "indicates," "anticipates," "suggests," "possibility," "believes," "intends," "will," "should," "may," and similar expressions may be used to identify forward-looking statements. Forward-looking statements are not statements of historical fact and reflect Noble Energy's current views about future events. They include planned development activities, business strategy and other plans and objectives for future operations. No assurances can be given that the forward-looking statements contained in this news release will occur as projected and actual results may differ materially from those projected. Forward-looking statements are based on current expectations, estimates and assumptions that involve a number of risks and uncertainties that could cause actual results to differ materially from those projected. These risks include, without limitation, exploration and development risks, drilling and operating risks, the presence or recoverability of estimated reserves, the negotiation and execution of definitive agreements, the volatility in commodity prices for crude oil and natural gas, environmental risks, competition, government regulation or other actions, the ability of management to execute its plans to meet its goals and other risks inherent in Noble Energy's business that are discussed in its most recent annual report on Form 10-K and in other reports on file with the Securities and Exchange Commission. These reports are also available from Noble Energy's offices or website, http://www.nobleenergyinc.com. Forward-looking statements are based on the estimates and opinions of management at the time the statements are made. Noble Energy does not assume any obligation to update forward-looking statements should circumstances or management's estimates or opinions change.
SOURCE Noble Energy