The furlough program and part-time work status actions impacted more than 30 percent of the company’s US workforce. Noble Energy Inc. Chairman and CEO David L. Stover says the company’s actions taken to date are expected to generate more than one billion dollars in annualized cash savings, and management will continue to remain agile in navigating current market conditions. In addition to previously communicated capital and cost initiatives, the company has: Reduced planned 2020 capex by another $350 million to now range from $800- to $900 million Identified an additional $125 million in cash cost savings Cut leadership salaries by 10-20 percent and decreased directors’ cash retainer by 25 percent through year-end Implemented employee furlough and part-time programs Cash-settled certain 2020 crude oil hedges generating an additional $145 million in 1Q gains Drawn $1 billion on the company’s unsecured $4 billion revolving credit facility Reduced the quarterly cash dividend […]