Noble Energy says hurricane hurt production
HOUSTON (AP) — Noble Energy says that Hurricane Isaac hurt its production, but its activity in the Gulf of Mexico is back to levels from before the storm.
The hurricane caused damage along the Gulf Coast in August and prompted the Houston company to shut down production. It said its return to normal activity was delayed after the storm because of floods and equipment repairs.
The oil and gas company said Monday that the because of the shutdown, it produced about 7,000 fewer barrels of oil equivalent per day in the third quarter, which ended in September. Based on this, Noble Energy Inc. now anticipates its quarterly volumes will be at the low end of its prior forecast for a range of 242 to 250 million barrels of oil equivalent per day.
The company says its current production in the Gulf of Mexico is 27 million barrels of oil equivalent per day.
Shares of Noble Energy, which is based in Houston, dipped 2 cents to $92.69 in afternoon trading.