Noble Energy reported is highest-ever quarterly net income of $226.1 on May 2, 2006.
This figure is an increase of 106% compared with $110 million reported in the first quarter of 2005.
Charles D. Davidson, the company's chairman, president and CEO, attributes the success to "strong organic growth [that] came from international developments in Equatorial Guinea, Israel, China and Ecuador". He added, " In 2006, substantial organic growth will come from North America."
International operations saw an increase of 85% in operating income for the first quarter. In 2006 income was $211.3 million globally, compared with $114.9 million in the first quarter last year. First quarter 2006 sales volumes increased 40%.
Company-wide sales volume increased 77% in 2006 as compared with first quarter 2005.
Additionally, Newfield acquired United States Exploration Inc. in March. The company paid $412 million to help expand its operations in its Wattenberg field.
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