Noble Energy cuts spending again, reduces exec pay, dividend

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.…


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