On Thursday, Noble Energy Inc. said that it planned to revive the majority of its curbed oil production capacity by the end of July since oil prices have recovered from the record lows.
In the second quarter of 2020, Noble was prompted to cut around 11,000 bpd which on a net basis means a total of 32,000 bpd. Its US onshore oil production capacity averaged 124 bpd in the period.
Noble is scheduled to report the second-quarter results on August 7. The company’s shares were up by 2% in the premarket trade after falling by a total of 64% so far this year.
