Noble Energy Q3 Profit More Than Doubles - Quick Facts

(RTTNews) - Noble Energy Inc. (NBL) reported third quarter 2014 net income of $419 million and $1.12 per share, up from $205 million and $0.56 per share in the same quarter last year.

Excluding the impact of certain items, third quarter 2014 adjusted income was $110 million or $0.28 per share.

Included in the adjustments to net income for the third quarter of 2014 were non-cash commodity derivative gains and a gain on the sale of certain non-core U.S. Onshore assets, primarily the Company's Powder River and Texas Panhandle assets. In addition, the Company recorded an impairment associated with the sale of its Piceance Basin assets.

Total revenues for the quarter dropped to $1.269 billion from $1.394 billion in the previous year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.36 per share and revenues of $1.29 billion for the quarter. Analysts' estimates typically exclude special items.

Noble Energy anticipates fourth quarter 2014 volumes to range from 307 to 327 MBoe/d, consistent with the Company's prior expectations after adjusting for the impact of the sale of its Piceance Basin assets.