Comparing the current results to its competitors, Noble Energy Inc reported Revenue decrease in the 2 quarter 2020 year on year by -47.76 %, slower than the combined decrease of the NBL's competitors by -56.41 %, recorded in the same quarter.
Noble Energy Inc 's Comment on Competitors and Industry Peers
The crude oil and natural gas industry is highly competitive. We encounter competition
from other crude oil and natural gas companies in all areas of operations, including
the acquisition of seismic data and lease rights on crude oil and natural gas
properties and for the labor and equipment required for exploration and development
of those properties. Our competitors include major integrated crude oil and natural
gas companies, state-controlled national oil companies, independent crude oil
and natural gas companies, service companies engaging in exploration and production
activities, drilling partnership programs, private equity, and individuals. Many
of our competitors are large, well-established companies. Such companies may be
able to pay more for seismic information and lease rights on crude oil and natural
gas properties and exploratory prospects and to define, evaluate, bid for and
purchase a greater number of properties and prospects than our financial or human
resources permit.