Noble Energy Inc. (NBL)

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HEY HEY HEY-MARKET TALK: Deep-Water Drilling Resumes, Though Not In A New Well
19 hours 32 minutes ago - DJNF

2341 GMT [Dow Jones] The first deep-water drilling approved for the U.S. Gulf since April's Deepwater Horizon blast isn't for an entirely new well: Noble Energy (NBL) was more than halfway through drilling its Santiago prospect when U.S. regulators shut down the project. So while Noble's permit shows U.S. regulators' willingness to let deepwater activity resume, it doesn't necessarily signal an immediate start to new exploratory drilling, which now requires more stringent environmental review, although the industry certainly hopes so. "While it is encouraging that the industry now has a green light to resume previously approved drilling operations in the deep water Gulf of Mexico, we are hopeful that this positive momentum will also drive forward much-needed, new exploratory drilling in a timely manner," Royal Dutch Shell says in a statement. ([e-mail])