Houston-based Noble Energy Inc. (Nasdaq: NBL) will cut its spending in 2020 in response to plunging oil prices.
The company is reducing planned capital expenditures for the year by about $500 million, landing in a range between $1.1 billion and $1.3 billion, according to a March 12 press release.
“Deferring activity until commodity prices recover protects our investment returns, maintains free cash flow and strengthens the balance sheet,” said David Stover, CEO and chairman of Noble.
The announcements…