Houston-based Noble Energy Inc. (Nasdaq: NBL) is taking more steps to weather the extreme downturn in the oil and gas market.
In addition to previously announced cuts, Noble now expects to generate more than $1 billion in annualized cash savings, Chairman and CEO David Stover said in a press release.
The company has cut its 2020 capital expenditure plans by another $350 million, in addition to the previously announced $500 million reduction, landing in a range of $800 million to $900 million.…
The system, known as NeuFuel, differs from compressed natural gas because it can be used at a lower pressure than CNG.
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