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2 years ago
Noble Energy slashing dividend, capex as oil prices stay low
January 26, 2016 / 9:58 PM / 2 years ago

Noble Energy slashing dividend, capex as oil prices stay low

(Reuters) - Noble Energy Inc (NBL.N) on Tuesday said it will slash its quarterly payout 44 percent and said it will cut spending about 50 percent this year as the U.S exploration and production company looks to save cash in a time of depressed crude prices.

Noble, based in Houston, said its board of directors voted to cuts it quarterly payout to 10 cents, a decline of 44 percent while capital spending is set to fall by about half from last year to $1.5 billion.

Reporting by Anna Driver

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