Noble Midstream Partners Q3 Profit Rises

(RTTNews) - Noble Midstream Partners LP (NBLX) reported that its third-quarter net income attributable to limited partners increased to $43.16 million from $41.45 million last year. But, net income per unit declined to $1.09 from $1.15 in the prior year.

Total revenues for the quarter rose to $139.16 million from $63.11 million last year.

Analysts polled by Thomson Reuters expected the company to report earnings of $1.01 per share and revenues of $119.76 million. Analysts' estimates typically exclude special items.

Full year 2018 oil and gas gathering volumes are now anticipated to average 206 to 211 MBoe/d, approximately 134% above the 2017 average, and produced water is expected to average 97 to 100 MBw/d, an increase of over four times compared to the 2017 average.

Net income in the fourth quarter is expected between $52 million and $57 million, and $184 million and $189 million for the full year 2018.