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Basic Materials | Independent Oil & Gas | USA
Noble Energy to reward investors with more than $500 million cash flow target
(Reuters) - Noble Energy Inc on Tuesday outlined a plan to return over $500 million to shareholders by 2020 and lowered its 2019 capital expense forecast in response to a drop in crude oil prices, sending its shares up 5 percent.
The U.S. oil and gas producer's announcement comes when a near-40 percent fall in U.S. crude prices in the fourth-quarter has pressured margins at oil and gas producers with investors calling for lower expenses and higher returns.
Noble cut its 2019 spending target, joining a list of peers that includes Apache Corp and Pioneer Natural Resources. The Houston-based company forecast capital expenditure in the range of $2.4 billion to $2.6 billion this year, lower than its previous forecast of $2.8 billion.
The company also said it would generate over $500 million in free cash flow by 2020, which it plans to return to shareholders through dividend and buybacks.
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https://finance.yahoo.com/news/noble-ene...03063.html
![[Bild: NBLc1dl1516.png]](https://finviz.com/publish/021919/NBLc1dl1516.png)
Noble Energy to reward investors with more than $500 million cash flow target
(Reuters) - Noble Energy Inc on Tuesday outlined a plan to return over $500 million to shareholders by 2020 and lowered its 2019 capital expense forecast in response to a drop in crude oil prices, sending its shares up 5 percent.
The U.S. oil and gas producer's announcement comes when a near-40 percent fall in U.S. crude prices in the fourth-quarter has pressured margins at oil and gas producers with investors calling for lower expenses and higher returns.
Noble cut its 2019 spending target, joining a list of peers that includes Apache Corp and Pioneer Natural Resources. The Houston-based company forecast capital expenditure in the range of $2.4 billion to $2.6 billion this year, lower than its previous forecast of $2.8 billion.
The company also said it would generate over $500 million in free cash flow by 2020, which it plans to return to shareholders through dividend and buybacks.
...
https://finance.yahoo.com/news/noble-ene...03063.html
