Noble Energy Inc. (NBL)

[OilStockReport]

Noble Energy Inc. said Friday that the government of Ecuador had canceled a production sharing contract but that the company was working to resolve the matter.

Houston-based Noble (NYSE: NBL) said Ecuador officials terminated its Block 3 production sharing contract with EDC Ecuador Ltd., a Noble subsidiary. The Ecuador government has enacted a new hydrocarbon reform bill requiring that all production sharing contracts be renegotiated.

Noble had a 100-percent working interest in Block 3. Its reserves in Ecuador are less than 3.5 percent of the exploration and production company’s total reserves.