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Noble Corporation plc (NYSE: NE, CSE: NOBLE) is a premier offshore drilling contractor for the oil and gas industry, owning and operating one of the most modern, versatile, and technically advanced fleets in the sector. The company specializes in ultra-deepwater and high-specification jackup drilling opportunities across both established and emerging regions globally. Noble's operations are driven by a high-specification fleet of floating and jackup rigs, deployed in diverse oil and gas basins around the world.
Core Business: Noble provides contract drilling services through its fleet of mobile offshore drilling units. This includes a mix of floaters and jackups designed to meet the rigorous demands of offshore drilling. The company has been a part of the contract drilling industry since 1921, continuously evolving to meet the changing needs of the market.
Recent Achievements: In recent news, Noble has shown robust performance with fourth-quarter 2023 revenue reaching $609 million. The company's integration with Maersk Drilling has been substantially successful, capping a year of strong operational performance. Noble's marketed fleet utilization stood at 68% for the fourth quarter of 2023.
Current Projects & Financial Condition: Noble announced a guidance range for total revenue in 2024 of $2,550 to $2,700 million, with an Adjusted EBITDA range of $925 to $1,025 million. The company's backlog as of February 2024 stands at $4.6 billion, indicating strong future revenue streams. Noble's balance sheet as of December 31, 2023, reflected a total debt principal value of $600 million and cash equivalents of $361 million.
Partnerships & Products: Noble recently entered into a definitive merger agreement with Diamond Offshore Drilling, Inc., enhancing its fleet and market position. This acquisition is expected to be immediately accretive to free cash flow per share, adding significant value to shareholders.
Additional Information: Noble continues to focus on delivering superior services to its clients, supported by its robust and technologically advanced fleet. For more details, visit www.noblecorp.com or email investors@noblecorp.com.
Noble (NYSE: NE) has announced plans to divest two cold stacked drillships, the Pacific Meltem and Pacific Scirocco. The company aims to eliminate costs associated with these non-operational units and focus resources on its marketed fleet. The divestment strategy includes potentially scrapping the units, effectively retiring them permanently from drilling operations.
CEO Robert W. Eifler explained that the decision to retire these non-contributing assets stems from a continuous cost-benefit evaluation of idle capacity. The move is expected to be immediately cash flow accretive and result in a more optimized fleet composition for Noble.
Noble plc (NYSE: NE) has announced it will release its fourth quarter and full year 2024 financial results on Monday, February 17, 2025, after the U.S. market close. The company will make its earnings press release and presentation available on their website at www.noblecorp.com.
A conference call to discuss the results is scheduled for Tuesday, February 18, 2025, at 9:00 a.m. U.S. Central Time. Participants can join by dialing (800) 715-9871 with conference ID 31391, or by pre-registering through the provided link. A live webcast will be available on the company's Investor Relations section, with a replay accessible for a time after the call.
Noble reported Q3 2024 results following the closure of Diamond acquisition on September 4th. Key highlights include: net income of $61 million, diluted EPS of $0.40, and Adjusted EBITDA of $291 million. The company generated $284 million in operating cash flow and $165 million in free cash flow. The Board approved a $0.50 per share dividend for Q4 2024 and authorized an additional $400 million share repurchase program. Q4 2024 guidance projects revenue of $850-890 million and Adjusted EBITDA of $275-305 million. The company's current backlog stands at $6.2 billion.
Noble plc (CSE: NOBLE, NYSE: NE) has announced plans to release its third quarter 2024 financial results on Tuesday, November 5, 2024, after the U.S. market closes. The company will host a conference call to discuss the results on Wednesday, November 6, 2024, at 8:00 a.m. U.S. Central Time.
Interested parties can access the call by dialing +1 (800) 715-9871 and referencing conference ID 31391. Alternatively, a live webcast will be available on the Investor Relations section of Noble's website. The earnings press release and accompanying presentation will be accessible on the company's website at www.noblecorp.com. A replay of the webcast will be available for a time following the call.
Noble plc (NYSE: NE) has announced changes to its share capital for September 2024. The company repurchased approximately $205.7 million of A ordinary shares at a weighted average price of $35.63 per share, with 6,938,128 repurchased shares cancelled. Additionally, 45 new A ordinary shares were issued due to warrant exercises at $23.13 per share, generating $1,040.85 in proceeds.
Following these changes, Noble has 160,341,619 A ordinary shares outstanding. The company also announced its intention to voluntarily delist from NASDAQ Copenhagen in late 2024 or early 2025, while maintaining its primary listing on the New York Stock Exchange. Shareholders of Danish Shares have options to transfer their shares to NYSE or sell prior to delisting.
Noble plc (NYSE: NE) has completed its acquisition of Diamond Offshore Drilling, Inc, enhancing its position as a leading offshore driller. The transaction creates the largest fleet of 7th generation dual-BOP drillships in the industry and adds approximately $2 billion of backlog. Noble has appointed Patrice Douglas from Diamond's board to serve as a new director. The company's current backlog has increased to $6.7 billion, including 4.8 rig years of backlog recently awarded under the Commercial Enabling Agreement with ExxonMobil for operations in Guyana. Noble issued 24,239,941 class A ordinary shares to former Diamond shareholders, bringing the total outstanding shares to 167,279,702.
Noble plc (NYSE: NE, CSE: NOBLE) has announced changes to its share capital for August 2024. The company repurchased approximately $44.2 million of A ordinary shares at a weighted average price of $37.90 per share. Additionally, 120,506 new A ordinary shares were issued, including 110,620 shares from warrant exercises and 9,886 shares to employees from vested restricted stock units. The total outstanding A ordinary shares now stand at 143,039,218.
Noble also revealed its intention to voluntarily delist from NASDAQ Copenhagen in late 2024 or early 2025, while maintaining its primary listing on the New York Stock Exchange. Shareholders of Danish Shares have options to transfer their shares to NYSE or sell prior to delisting.
Noble (NYSE: NE) and Diamond Offshore Drilling (NYSE: DO) have announced a significant update regarding their pending transaction. The companies have received clearance from the Australia Competition & Consumer Commission, which marks the final required regulatory approval for the deal. With this milestone achieved, Noble and Diamond Offshore are now set to close the transaction on Wednesday, September 4th, 2024. This development represents a important step forward in the merger process between these two major players in the offshore drilling industry.
Noble plc (NYSE: NE, CSE: NOBLE) announced the closing of an $800 million offering of 8.000% Senior Notes due 2030 through its subsidiary Noble Finance II These notes are additional to the $600 million previously issued in 2023. The proceeds will primarily fund the cash consideration for the pending merger with Diamond Offshore Drilling, Inc. and general corporate purposes. The new notes share terms with existing ones, except for issue-related details, and are guaranteed by certain subsidiaries. They were offered only to qualified institutional buyers in the U.S. and select international investors, and are not registered under the Securities Act, limiting their transferability.
Noble plc (NYSE: NE, CSE: NOBLE) announced that its subsidiary, Noble Finance II , has priced an upsized offering of $800 million in aggregate principal amount of 8.000% Senior Notes due 2030. The offering, initially set at $675 million, was increased to $800 million and priced at 103% of the principal amount. Closing is expected around August 22, 2024. The proceeds will fund the cash consideration for Noble's pending merger with Diamond Offshore Drilling, Inc. and general corporate purposes. These notes will be issued under the same indenture as the existing $600 million of 8.000% Senior Notes due 2030, forming a single series. The notes are being offered to qualified institutional buyers in the U.S. under Rule 144A and to non-U.S. persons under Regulation S of the Securities Act.