Noble Energy’s 4Q16 earnings
Noble Energy’s 4Q16 EPS (earnings per share) consensus estimate is -$0.10. Its 3Q16 EPS was -$0.07. Its EPS were $0.44 in 4Q15.
As you can see in the above graph, Noble Energy’s EPS came in better than expected in the last two quarters. NBL’s 4Q16 EPS estimate is also better than its estimates in previous quarters.
Key 4Q16 highlights
One of Noble Energy’s key developments in 4Q16 was its joint venture separation. On October 31, 2016, NBL announced that it would separate from its 50-50 joint venture with Consol Energy (CNX) in the Marcellus Shale.
Noble Energy intends to conduct operations on its own on 363,000 Marcellus acres with a production of ~450 MMcfepd (million cubic feet equivalent per day). The majority of Noble Energy’s acreage is located in West Virginia.
A press release from Noble noted that its respective operating areas would continue to ship products through CONE Midstream Partners (CNNX).