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Noble Energy Posts Loss In 1st Quarter

Stock quotes in this article: NBL  

HOUSTON (AP) — Oil and gas producer Noble Energy Inc. on Thursday posted a first-quarter loss driven mainly by asset impairments and hedging write-downs, along with a sharp drop in sales volumes and weak commodity prices.

The Houston-based company reported a loss of $188 million, or $1.09 per share, compared with earnings $215 million, or $1.20 per share, in the year-ago period.

Results include asset impairments and hedging write-downs totaling $291 million after-tax. Excluding nonrecurring items, adjusted earnings were $103 million, or 59 cents per share. ...

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