Noble Energy Cuts CAPEX by 3%, Increases 2015 Sales Expectations

U.S.-headquartered Noble Energy says it has cut capital expenditure in 2015 with respect to the previous guidance, adding it increased sales volume expectations for the fourth-quarter of the year.

"The updated combined capital amount for 2015 is down approximately $100 million from previous estimates," reads a press release published on Monday. 

The company’s total capital spending has been reduced to "slightly" below $3 billion.

"Fourth quarter 2015 sales volume expectations have been increased to range between 385 and 405 MBoe/d," the company added. 

In relation to its operations in Israel, the American company said that natural gas sales volumes averaged 303 MMcfe/d in the third quarter of the year, which represents a 15% increase on the same period in 2014. 

Noble also said that it continues negotiations to sell gas from both the Tamar and Leviathan fields, explaining it expects some additional efforts from Tel Aviv. 

"A comprehensive regulatory framework for hydrocarbon development was finalized and fully approved by the government of Israel. Government action to follow through with the regulatory framework is ongoing."