Alongside its partner US energy producer Consol, the independent oil and gas company is putting a temporary hold on drilling in the Marcellus Shale play until natural gas prices rise again. Drilling will not come to a halt immediately as Nobel will wait until the middle of the third quarter to cease operations on its rig with Consol stopping its two rigs in the fourth quarter.
“With some of the completion inventory and some of the completion activity, we’ll still be ramping up [production] in the second half of this year,” chief executive of Noble Energy David Stover said.
Noble recorded in its second-quarter results that it produced about 12.4 mcm (437 mcf) of natural gas per day, which is 70 percent more than its output during the same period in 2014.
The UK's hydrocarbons regulator has awarded 31 new exploration licences in the country's North Sea waters, Reuters reported on Friday Read More
ExxonMobil announced the closing of its USD 60-billion acquisition of Pioneer Natural Resources on Friday, a move that solidifies its… Read More
BP-Eni joint venture Azule Energy has entered a strategic farm-in agreement with Rhino Resources in Namibia's offshore Orange Basin, the… Read More
Africa-focused energy group Chariot has spudded the RZK-1 exploration well on the Gaufrette prospect at the Loukos Onshore licence in… Read More
Touchstone Exploration has acquired Trinidad-focused Trinity Exploration & Production in an all-shares deal, the Canadian upstream player said on Wednesday Read More
ExxonMobil is "optimistic and pushing forward" with the Rovuma LNG project in Mozambique and eyes an FID by the year's… Read More
This website uses cookies.