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Projected 2012 growth: 23%
2013 growth: 22%
2014 growth: 20%
Noble Energy(NBL - Get Report), an oil and gas driller, is benefiting from the same dynamics that were discussed with Cabot Oil & Gas earlier. As Morningstar notes, "Noble Energy is very well positioned to grow quickly and emerge in the second half of the decade as a far larger company generating higher returns."
That's because the company has hit a gusher in the Mediterranean, with up to than 35 trillion cubic feet of natural gas sitting untapped off the coast of Israel. Construction is under way now, and the gas should be flowing in coming quarters. Noble also has very potentially very productive energy fields in Equatorial Guinea. Notably, natural gas prices are far higher in the rest of the world than they are in the U.S.
There is risk: The Israeli government may mandate that Noble's gas needs to be sold domestically in Israel and cannot be exported to ensure that Israel doesn't fritter away this badly-needed commodity. It's an unlikely scenario but bears continued scrutiny.
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