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Noble Energy to reward investors with more than $500 million cash flow target


By John Benny and Shradha Singh(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 ...

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First Published: Tue, February 19 2019. 23:32 IST