Top Story | Forecast - Production | Capital Markets | Capital Expenditure | Drilled Uncomplete (DUC) | Drilling Program-Rig Count | Capital Expenditure - 2019
Noble's 2019 DJ, Delaware Basin Capex Flat YOY; Rigs, Completions Down
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Noble Energy detailed its 2019 capital plan.
CommentaryNoble will be targeting +14% production growth from its US Onshore operations (note that total production expected to grow only +2%). This estimated growth in US onshore production is despite cutting rig count and completions plans 40% and 15%, respectively.
The Eagle Ford will see the biggest decline in activity - with no rigs active and only 20 DUC completions for 2019.
Conversely, DJ Basin and Delaware Basin spending remains relatively flat YOY despite a overall budget cut of -17%.
As you can see in the charts below, Noble's rig count and completions have been on the decline since early 2017 - a trend that will continue going into 2019.
Rig Count: 2019 Plans- 2019 Capex: $2.4-2.6 billion (down -17% from 2018)
- 2019 Product…
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