Noble Energy releases results from Diega oil find

Independent oil and gas company Noble Energy Inc. said Thursday that test results from its Diega oil discovery offshore Equatorial Guinea yielded a flow rate of 2,700 barrels per day and 2.7 million cubic feet per day of natural gas.

The company said performance modeling shows that development well completions can be designed to achieve production rates of 10,000 barrels per day plus associated natural gas.

"The test results from the Diega oil zone are very positive, confirming that this new oil resource can be produced at substantial economic rates," Charles D. Davidson, Noble Energy's chairman, president and chief executive, said in a statement.

Noble Energy is the technical operator of the site and has a 40 percent participating interest.

The company also announced that previously discussed maintenance work affecting its Equatorial Guinea production operations has been completed as expected and the facilities are running at full capacity.

Noble Energy shares fell 2 percent, or $1.67, to $72.84 in trading Thursday, then added back $1.67 to $74.51 in after-hours electronic trading. The shares have traded between $58.41 and $105.11 over the past year.