UPDATE 1-Noble Energy posts profit, cuts 2010 spending

* Oil and gas output rises 6 percent

* Cuts 2010 spending citing drilling moratorium

HOUSTON, July 29 (Reuters) - Noble Energy Inc (NBL.N) reported a second-quarter profit on Thursday on higher prices and output.

The oil and gas company also lowered its 2010 budget to $2.2 billion from $2.5 billion, citing reduced activity in the Gulf of Mexico due to the U.S. government moratorium.

Profit in the quarter was $204 million, or $1.10 per share, compared with a year-earlier loss of $57 million, or 33 cents per share.

Sales volume was 219,000 barrels of oil equivalent per day, up from 206,000 in the second quarter of 2009. (Reporting by Anna Driver; Editing by Lisa Von Ahn)