Noble Energy Inc.NBL

Morningstar Rating

Stock Research and Analysis

by Catharina Milostan

Noble Energy's global mix of long-term projects may help the firm weather near-term challenges of low oil and gas prices and funding constraints. Discoveries continue in the U.S. Gulf of Mexico, North Sea, and Equatorial Guinea to help drive long-term Read more

Bulls Say

Noble Energy high-graded its oil and gas portfolio with more lower-risk, longer-lived onshore U.S. properties and some international projects to drive production growth.

Drilling gains Noble Energy's Rockies-based Wattenburg properties with an added bonus of high natural gas liquids extracted from the gas production stream can help boost returns.

Deep-water drilling discoveries in U.S. Gulf of Mexico and Equatorial Guinea provide long-term oil and gas production growth potential.

Noble Energy's mix of onshore and offshore U.S. and international properties results in a balanced supply of drilling and exploration prospects to drive production growth. Read more

Bears Say

As with other E&P companies, oil and gas prices have a direct effect on Noble Energy's earnings and cash flow, making it vulnerable to any major price drop.

Faced with funding constraints amid financial market turmoil, Noble Energy scaled back 2009 capital spending, leading to lower drilling activity and production.

Noble Energy is subject to more political and technical risks given its exposure to several international and U.S. fields, many requiring unconventional recovery methods.

Noble Energy's exploratory drilling program makes it susceptible to costly exploratory failures and unexpected changes in projected production growth. Read more

Strategy

Noble Energy rebalanced its mix of U.S. and international oil and gas activities by adding more lower-risk, longer-lived onshore U.S. properties by acquiring Patina Oil & Gas and United States Exploration. Read more

Management

Charles Davidson joined Noble Energy as president and CEO in 2000 and became chairman in 2001. Davidson brought more than 30 years of industry experience, most recently as the well-regarded CEO of Vastar Resources. Within his first few years at Noble Read more

Profile

Houston-based Noble Energy is an oil and gas producer in the United States, Equatorial Guinea, the North Sea, Israel, China, and Ecuador. In the U.S., Noble Energy operates Read more

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