Forecast - Production | Capital Markets | Capital Expenditure
Noble Energy Lowers Spending by Half for 2016
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Noble Energy has reported updates to its 2016 capital budget and dividend.
Capital BudgetNoble Energy is starting 2016 with a capital program of approximately $1.5 billion, which is about 50 percent lower than 2015 (pro-forma for the Rosetta Resources Inc. merger). This investment level is expected to deliver 2016 annual sales volumes of approximately 390 thousand barrels of oil equivalent per day, which is consistent with the full-year 2015 pro-forma amount. The 2016 program remains flexible to changes in the commodity price environment and will be discussed at the Company's scheduled conference call on February 17, 2016.
DividendNoble Energy, Inc. announced a decision by its Board of Directors to adjust the Company's quarterly cash dividend to 10 cents per common share, which…
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