Noble Energy 3Q Net Income Doubles

Oil and natural gas producer Noble Energy Inc said on Tuesday its third-quarter net income more than doubled on an increase in natural gas sales and prices.

The company reported net income of $419 million, or $1.12 per share, compared with $205 million, or 56 cents per share, in the year-ago quarter.

However, excluding a $397 million gain for oil and natural gas hedging, which analysts typically do not factor into estimates, Noble Energy earned $110 million.

Total sales volumes rose 3 percent to 302,000 barrels of oil equivalent per day (boe/d).

Noble Energy expects fourth-quarter sales volumes of about 307,000 to 327,000 boe/d.

Reporting by Ernest Scheyder