UPDATE 2-Noble Energy quarterly profit up, beats Street

* Q3 production up 6 percent

* Adjusted profit tops Wall Street view

* Shares gain nearly 4 percent

* Raises 2010 output forecast
(Adds production outlook, share price)

HOUSTON, Oct 28 (BestGrowthStock) – Noble Energy Inc (NBL.N: ) said
on Thursday its third-quarter profit (Read more your timing to make a profit.) more than doubled, topping
estimates, as the company benefited from a rebound in crude oil
and natural gas prices and output rose.

Compared with a year-earlier, U.S. crude oil prices climbed
13 percent while benchmark gas on the New York Mercantile
Exchange rose 23 percent.

Noble’s shares rose nearly 4 percent, or $3.06, to $80.34
in early New York Stock Exchange Trading.

Its profit rose to $232 million, or $1.31 per share, from
$107 million, or 61 cents per share, a year ago.

Excluding one-time items, Houston-based Noble’s profit was
$1.27 per share. Analysts on average had expected earnings of
79 cents per share, according to Thomson Reuters I/B/E/S.

Oil and gas output in the quarter was a record 230,000
barrels of oil equivalent per day, up from 217,0000 boe per day
a year earlier.

For the full year, Noble said it now expects production of
214,000 to 217,000 boe per day, representing the upper half of
its prior forecast.
(Reporting by Anna Driver; Editing by Lisa Von Ahn and Maureen

UPDATE 2-Noble Energy quarterly profit up, beats Street