Noble Energy had announced that the profit of the company has gone down drastically for the quarter ended Dec. 31. It has made a mere $8 million during this period of time. Only 5 cents per share has been gained.

But for the same time in the previous year, the profit was around $305 million and per share it has gained $1.72. According to the company officials, the fourth-quarter profit tumbled predominately due to charges of the oil and gas companies. If charges have been discounted then the profit would be around $178 million which would provide the company an impressive earning of $1.01 per share.

Share price have fallen by 2.4% that is $1.85 and closed at a price of $74.59 in midday trading Thursday. Over the past year the shares have been traded between $40.33 and $79.19 in the exchange. The production fell to 206,000 barrels of oil in the year as a result of which revenue of the company totaled $760 million.

Mean while Noble’s capital investment program is projected to total $2.5 billion this year with major project investments in the Gulf of Mexico, offshore Equatorial Guinea and Tamar offshore Israel