Noble Energy reports 2015 net loss of $2 billion

Due to the oil price downturn, Noble Energy Inc. (NYSE: NBL) reported a $2 billion net loss for 2015, or $4.73 per share, according to the Houston Business Journal. Current market conditions also has Noble reducing its 2016 CAPEX by 50% to $1.5 billion.  

Compared to last year, for all of 2014, Noble reported a profit of $402 million, or $1.05 per share.

Noble has stated that the company wrote down $1.27 billion of goodwill and international assets during the fourth quarter of last year. For 2016, Noble Energy plans to spend about two-thirds of its $1.5 billion CAPEX on US shale plays, with a focus on its operations in the Denver-Julesburg Basin of Colorado, along with its activities in the Eagle Ford, Delaware Basin, and Marcellus shale plays.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...