Houston-based Noble Energy plans to trim Eagle Ford jobs as it announces third quarter losses.
During an earnings call last week, Noble executives reported a $283 million net loss for the 2015 Q3 along with plans to trim capital spending and curtail exploration activity. Like many others, the company is putting these measures into place until the market rebounds enough to support increased spending.
In addition to the losses, Noble will lay off 180 jobs, including some in its Eagle Ford operations, according to Fuelfix. In April, the company cut 230 jobs.
Third Quarter Eagle Ford Highlights
- During the quarter, we closed on the merger with Rosetta Resources, which established new core operating positions for Noble Energy in the Eagle Ford and Delaware Basins.
- Spud-to-rig release times averaged eight days for a 5,000-foot lateral, a reduction of approximately 30% from the average on these assets earlier this year
- drilled seven Lower Eagle Ford wells
- Most wells are performing materially above the 3 million-barrel type curve for the area
Real more at nobleenergyinc.com