Noble

Just a week after announcing that it would launch a public offering of shares in a new limited partnership with interests in some of its Denver-Julesburg (DJ) Basin crude oil, natural gas and water-related midstream services, Noble Midstream Partners LP has postponed it.

After reducing its workforce by 10% in April, Houston-based onshore explorer Noble Energy Inc. this week began sending pink slips to close to 180 more people.

Noble Energy Inc. spent 14% less sequentially to build its wells during the third quarter but it shattered production records following outperformance from more efficient well designs in northern Colorado and Texas.

Noble Midstream Partners LP, a subsidiary of Noble Energy Inc. (NBL), has filed with the U.S. Securities and Exchange Commission for an initial public offering of shares in its new limited partnership with interests in certain of NBL’s Denver-Julesburg (DJ) Basin crude oil, natural gas and water-related midstream services.

While experiencing more red ink in the current year, Noble Energy executives exuded a positive outlook for the future on Monday, emphasizing the company’s significant acreage in more major U.S. unconventional plays since closing its $2.1 billion acquisition of Rosetta Resources Inc. with more than 100,000 acres in the Permian Basin and Eagle Ford Shale (see Shale Daily,May 11).

Noble Energy Inc. (NBL) is acquiring struggling Texas producer Rosetta Resources Inc. in an all-stock deal worth $2.1 billion plus debt assumption of $1.8 billion. Rosetta is active in the Eagle Ford Shale and Permian Basin.

Lower costs in the Denver-Julesburg (DJ) Basin and a larger than expected inventory of uncompleted wells in the Marcellus Shale at the end of the first quarter have Noble Energy Inc. shifting more capital back to Colorado and increasing its full-year guidance slightly.

Texas-based Noble Energy Inc. plans to cut more than 200 jobs across the country and shift oversight of U.S. operations from Houston to Denver in order to more closely align management with the company’s core assets in the Denver-Julesburg (DJ) Basin.

Executives with the worldwide offshore driller Noble Corp. plc said they began to see warning signs for the industry in the fourth quarter and believe the environment for drilling contracts will remain tough for the foreseeable future — at least until oil prices stabilize.