Noble Energy’s Plans for the DJ and Delaware Basins



Plans for the DJ and Delaware Basins

The DJ and Delaware basins have the 12th and fifth-lowest break-even costs for oil production among the 50 top offshore and shale projects, according to RS Energy Group.

Noble Energy (NBL) expects the EPIC crude pipeline to be operational in the third quarter, which will likely reduce the price discount of its oil produced to grades of oil in the Gulf Coast. On March 19, the WTI at Midland was at a discount of $8.1 per barrel to LLS (Light Louisiana Sweet). LLS represents a Gulf Coast grade of oil.

Apart from the rise in oil prices, the factors we discussed in this series might have pushed Noble Energy higher.

Article continues below advertisement

More From Market Realist