By Erin Ailworth
Noble Energy Inc. is scheduled to announce its second-quarter
earnings before the market opens Monday. Here's what you need to
know:
EARNINGS FORECAST: Net income of 5 cents per share is the
consensus of analysts surveyed by Thomson Reuters, compared with 87
cents a share during the same quarter of last year.
REVENUE FORECAST: Revenue of $890 million is forecast for the
second quarter, down 36% from $1.4 billion reported in the
prior-year period.
WHAT TO WATCH:
ROSETTA: Noble recently completed its purchase of Rosetta
Resources Inc. The company has already announced some layoffs and
executive-level resignations -- 76 employees total. Expect Noble to
offer more details about how it will absorb Rosetta, and what it
plans for the new Texas acreage it acquired with the deal.
$50 OIL: With crude-oil prices under $50 a barrel, Noble will be
expected to address its ability to withstand lower prices. The
company's deal for Rosetta gave it acreage in Texas that may change
its outlook.
ISRAEL: Noble and the government of Israel have been talking
about Leviathan, a major natural-gas field the company wants to
develop offshore in the Mediterranean. The project has been delayed
because some officials consider Noble's partnership with Delek
Group, an Israeli company, a monopoly. Management may update
investors on potential sales it could make in the area in order to
press forward on the project.
Write to Erin Ailworth at erin.ailworth@wsj.com
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