Noble Energy Operational Update
Noble Energy Inc. (NYSE: NBL) has announced flow results for an offshore appraisal well in the Republic of Cyprus. The Cyprus A-2 well reached a total depth of 18,875 feet in 5,575 feet of water. The well yielded a maximum flow rate of 56 Mmcf/d with performance modeling estimating future capacity at up to 250 million Mmcf/d.
The Cyprus A discovery represents the third largest natural gas field in the Deepwater Levant Basin. The successful A-2 well results confirm substantial recoverable resources in the northern area of the structure. Noble has a 70% working stake in this block and plans to continue appraisal activities in the area.
China’s Hidden Growth
The average pay in Asia has almost doubled since 2000. This has resulted in rapid consumer growth across a range of industries including retail, furniture, and entertainment. China’s tepid GDP rate has kept this economic growth – and the investment opportunities that come with it – well under the radar. Chinese stocks such as SouFun Holdings (NYSE: SFUN) and Baidu (NASDAQ: BIDU) are on the up, and have as much as doubled since June. But that’s just a sample of large cap companies – these smaller stocks are doing even better.