Noble Energy Inc. shares rose 1.9% in premarket trade Tuesday, after the oil and natural gas exploration and production company raised its third-quarter sales volume outlook, following a stronger-than-expected performance in July and August. The company said it now expects sales volume to range between 350 thousand barrels of oil equivalent per day (MBoe/d) to 370 MBoe/d. The midpoint of the new range is 10 MBoe/d higher than the midpoint of the previous range, the company said in a statement. The increase is being driven mainly by a better performance and infrastructure expansion in the DJ Basin in Colorado. The company has also seen strong production from assets in Texas, Marcellus Shale, Israel and Equatorial Guinea, said the statement. Natural gas sales in Israel set a record in August, as Noble’s Tamar asset averaged more than one billion cubic feet of natural gas per day. Shares have fallen 35.2% in the year so far, while the S&P 500 is down 6.7%.
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