June 2007 -- Noble Energy Inc., an independent exploration and production company, reported pre-tax operating income for the first quarter of $217.5 million, an increase of $16.1 million, or 8%, compared with operating income of $201.4 million for the first quarter last year.
North America production was 113,622 barrels of oil equivalent per day in the first quarter 2007 compared with 114,296 for first quarter last year. The decline in production compared to last year was the result of severe winter weather and the Gulf of Mexico shelf asset sale, offset by production growth in the company's core D-J basin and deepwater Gulf of Mexico areas.
"Despite the severe winter weather impacts we experienced in the Rocky Mountains during the quarter, our diversified portfolio enabled us to produce solid earnings per share and cash flow. With North America now at full production and our Dumbarton development on line, we are well positioned to continue delivering solid results for our shareholders throughout 2007 and for the long-term," said Charles D. Davidson, the company's chairman, president and CEO.
