Noble Energy 1Q16: Still Active in the Marcellus, Compl. 25 Wells

Noble Energy logoNoble Energy, a driller with a significant presence in the Marcellus but with a bigger presence in other shale plays, (and operations in other countries and offshore), announced in February that of the four shale plays they operate in onshore in the U.S.–the DJ Basin, Eagle Ford, Delaware and Marcellus–in 2016 they plan to focus on the first three and scale back in the Marcellus, limiting their Marcellus activity to completing previously drilled wells (see Noble Energy Loses $2.4B in 2015; Marcellus Scale-Back in 2016). Last week Noble issued its first quarter 2016 update. We are, of course, most interested in their Marcellus activity. Noble reports, true to their word, that although they didn’t drill any new wells, they did complete 25 wells and production in the Marcellus spiked up 46% in 1Q16 over the same quarter in 2015…

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