Noble Energy fourth-quarter profit falls 47 percent

Thu Feb 6, 2014 7:40am EST

Feb 6 (Reuters) - Oil and natural gas producer Noble Energy Inc said on Thursday that its fourth-quarter profit fell 47 percent due to hedging losses and higher drilling costs.

For the quarter, the company posted net income of $134 million, or 37 cents per share, compared with $251 million, or 70 cents per share, in the year-ago period.

Sales volumes rose 16 percent to 293,000 barrels of oil equivalent per day.