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Noble Energy Q1 net loss $4.0 billion

Christian Fernsby ▼ | May 10, 2020
Noble Energy provided first quarter financial and operating results.
Noble Energy
Noble Energy   Organic capital expenditures for Noble Energy totaled $399 MM
First quarter highlights include:

Topics: Noble Energy

Financial liquidity of $4.4 Bn including $1.4 Bn of cash and $3.0 Bn of available capacity on the Company’s unsecured revolver.

Consolidated cash flow from operations totaled $482 MM, benefiting from strong sales volumes, hedging gains and reduced cash costs.

Prior to working capital changes, consolidated cash flow from operations was $636 MM.

Organic capital expenditures for Noble Energy totaled $399 MM, more than 20% below the midpoint of guidance, due to U.S. onshore capital efficiencies and lower international spend.

The Company reported first quarter net loss attributable to Noble Energy of $4.0 billion, or $8.27 per diluted share.

Excluding items impacting comparability, the Company generated adjusted net income and adjusted net income per share attributable to Noble Energy for the quarter of $85 million and $0.18 per diluted share.

Adjusted EBITDAX was $715 million, and cash provided by operating activities was $482 million. Prior to working capital changes, operating cash flow was $636 million for the quarter.


 

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