Noble Energy says Ecuador cancels oil contract

HOUSTON, Nov 26 (BestGrowthStock) – Noble Energy Inc (NBL.N: ) said
on Friday that the government of Ecuador canceled a production
sharing contract as that country seeks more oil revenue through
new agreements.

The new accords end previous profit-sharing agreements in
favor of flat-fee service contracts. [ID:nN22279927]

Noble, based in Houston, said a service contract has not
been negotiated, but it is continuing to work with Ecuador to
resolve the matter.

Noble Energy operated Block 3 with a 100 percent working
interest. Its reserves in Ecuador are less than 3.5 percent of
company totals.

In afternoon New York Stock Exchange trading, Noble shares
were off $1.30 or 1.6 percent to $82.46.
(Reporting by Anna Driver, editing by Gerald E. McCormick)

Noble Energy says Ecuador cancels oil contract