Noble Energy, Inc. (NBL - Free Report) incurred an adjusted loss of 10 cents per share in third-quarter 2019, narrower than the Zacks Consensus Estimate of a loss of 11 cents.
Noble Energy's total revenues were $1,119 million, lagging the Zacks Consensus Estimate of $1,122 million by 0.3%. Revenues also declined 12.1% from the year-ago quarter’s $1,273 million.
In the quarter under review, sales volume averaged 385 thousand barrels of oil equivalent per day (MBoe/d), up 12% from the year-ago level. U.S. onshore volumes averaged 293 MBoe/d in the third quarter.
Operating expenses in the reported quarter were $1,128 million, up 45.5% from the year-ago period.
Interest expenses in the reported quarter were $67 million, up 4.3% from the year-ago period. During the quarter, the company refinanced debts, which will help it to lower interest expenses by $4 million annually.
Notably, the offshore Leviathan project is 96% complete. First production from Leviathan is now expected in December 2019. Total gross capital for the project has been reduced $150 million to $3.6 billion.