Wednesday May 14, 11:52 AM
Noble Energy lifts forecast for 2008 sales volumes
LONDON (Thomson Financial) - Noble Energy Inc (NYSE: NBL - news) . said Wednesday total sales volumes for 2008 are now estimated to average
between 210 and 220 thousand barrels of oil equivalent per day (MBoepd).
The oil and gas company said the midpoint of its new guidance represents a 2% increase from its original midpoint estimate of 210 MBoepd and an increase of 9% from 2007 adjusted for the sale of one of its Argentina assets.
It said its raised forecast is mainly due to better-than-expected performance from its its deepwater Gulf of Mexico development projects and improved growth in its Rocky Mountains operations.
The positive impact of the accelerated development of phase two of its Dumbarton North Sea oil filed and increased natural gas sales in Israel were other contributing factors.
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