HOUSTON, October 13, 2019 – Shares of Noble Energy Inc. (NYSE: NBL) declined -1.58% to $20.59. The stock traded total volume of 4.402M shares lower than the average volume of 5.49M shares.
Noble Energy, Inc. (NYSE: NBL) reported a first quarter net loss attributable to Noble Energy of $313.0M, or $0.65 per diluted share. Net loss counting non-controlling interest was $289.0M. Excluding items impacting comparability, the Company generated an adjusted net loss and adjusted net loss per share attributable to Noble Energy for the quarter of $44.0M, or $0.09 per diluted share. Adjusted EBITDAX was $562.0M, and cash offered by operating activities was $528.0M.
First quarter 2019 organic capital investments attributable to Noble Energy included $487.0M related to U.S. onshore upstream activities and $37.0M for midstream activities funded by the Company. These amounts were lower than anticipated as a result of reduced well costs and facility expenditures. The Company also invested $132.0M in the Eastern Mediterranean, mainly for the development of the Leviathan project. Noble Energy’s acquisition capital for the first quarter amounted to $39.0M, which mainly represented U.S. onshore exploration acreage capture.
Total Company sales volumes for the first quarter 2019 were 337.0K barrels of oil equivalent per day (MBoe/d). Total Company liquids sales volumes (crude oil and natural gas liquids) averaged 190.0K barrels per day (MBbl/d) for the first quarter 2019, or 56 percent of total volumes. The Company’s U.S. onshore assets produced 75 percent of sales volumes, Equatorial Guinea (E.G.) represented 13 percent and Israel comprised 12 percent. Each business unit in the U.S. onshore performed in line or above expectation while International volumes benefitted from high demand in Israel and shorter than anticipated facility maintenance in E.G.
NBL has the market capitalization of $9.95B and its EPS growth ratio for the past five years was -16.90%. The return on assets ratio of the Company was -4.30% while its return on investment ratio stands at 0.40%. Price to sales ratio was 2.16.