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Noble Energy to reward investors with more than $500 million cash flow target

(Reuters) - Noble Energy Inc on Tuesday outlined a plan to return over $500 million to shareholders by 2020 and lowered its 2019 capital expense forecast in response to a drop in crude oil prices, sending its shares up 5 percent.

The U.S. oil and gas producer's announcement comes when a near-40 percent fall in U.S. crude prices in the fourth-quarter has pressured margins at oil and gas producers with investors calling for lower expenses and higher returns.

Noble cut its 2019 spending target, joining a list of peers that includes Apache Corp and Pioneer Natural Resources. The Houston-based company forecast capital expenditure in the range of $2.4 billion to $2.6 billion this year, lower than its previous forecast of $2.8 billion.

The company also said it would generate over $500 million in free cash flow by 2020, which it plans to return to shareholders through dividend and buybacks.

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https://finance.yahoo.com/news/noble-ene...03063.html

Noble Energy (NBL) Q1 Loss Wider Than Expected, Revenues Beat

Noble Energy, Inc. NBL incurred an adjusted loss of 9 cents per share in first-quarter 2019, wider than the Zacks Consensus Estimate of a loss of 8 cents.

On a GAAP basis, the company incurred a loss of 65 cents against earnings of $1.14 registered in the year-ago quarter.

Total Revenues

Noble Energy's total revenues declined 18.2% year over year to $1,052 million in the first quarter. Nevertheless, the top line outpaced the Zacks Consensus Estimate of $1,004 million by 4.8%.

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https://finance.yahoo.com/news/noble-ene...06912.html