Welcome to our dedicated page for Noble Corporation plc news (Ticker: NE), a resource for investors and traders seeking the latest updates and insights on Noble Corporation plc stock.
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 Corporation reported strong fourth quarter results with total revenue of $623 million, up from $306 million in Q3 2022, driven by the merger with Maersk Drilling. The company achieved $50 million in synergies to date and is targeting $125 million. Share repurchases totaled $96 million. The contract drilling services revenue was $586 million, while net income stood at $135 million. For 2023, guidance is set for total revenue between $2.35 billion and $2.55 billion, with adjusted EBITDA estimated at $725 million to $825 million.
Noble Corporation plc (NYSE: NE) issued a correction on February 17, 2023, regarding previous announcements about share transactions by its managerial personnel. Earlier, it was incorrectly reported that Blake A. Denton and Joey M. Kawaja exchanged 3,076 shares, but neither exchanged any shares. Furthermore, the number of A ordinary shares received by Alan J. Hirshberg, Ann D. Pickard, and Charles M. (Chuck) Sledge was also revised significantly down from 22,796 to 13,677, 13,677, and 16,322 respectively. These amendments pertain to the accelerated vesting of restricted share units due to previous business combinations. Details align with EU Market Abuse Regulation requirements.
Noble Corporation plc (NYSE: NE) has announced the date for its fourth quarter 2022 financial results. The results will be reported on February 26, 2023, followed by a conference call on February 27, 2023, at 9:00 a.m. CT. Participants can join the call via telephone or via a live webcast available on the company's website. Noble Corporation is recognized as a leading offshore drilling contractor, operating a modern fleet primarily focused on ultra-deepwater and high-specification drilling. Interested stakeholders can find more information on Noble's official website.
Noble Corporation plc (NYSE: NE) announced the vesting of restricted share units resulting in the allocation of new A ordinary shares to its senior management. On February 3 and 5, 2023, various executives received shares with zero price attributed to the transactions. Richard B. Barker, CFO, received 9,009 and 45,687 shares; Robert W. Eifler, CEO, received 28,829 and 166,423 shares; other executives also received their shares with tax withholding adjustments made for each transaction. The notifications comply with the EU Market Abuse Regulation, ensuring transparency in managerial transactions.
Noble Corporation plc (NYSE: NE) announced significant changes to its share capital as of January 31, 2023. Since December 30, 2022, the company issued 122 new A ordinary shares due to warrant exercises, generating total proceeds of USD 2,463.27. The exercise prices were USD 19.27 for 15 shares and USD 23.13 for 94 shares. Concurrently, Noble cancelled 270,098 A ordinary shares acquired through a repurchase program. This adjustment leaves a total of 134,410,871 A ordinary shares outstanding, with a nominal value of USD 0.00001 each. The new shares will be listed on Nasdaq Copenhagen.
Noble Corporation plc announced its operational and financial update for Q4 2022, expecting Adjusted EBITDA between
Noble Corporation plc (NYSE: NE) announced changes to its share capital. From November 30, 2022, 685 new A ordinary shares were issued, raising a total of USD 14,215.65 from warrant exercises at varying prices. Additionally, 407,477 A ordinary shares were cancelled, resulting in a total of 134,680,847 A ordinary shares outstanding. The newly issued shares will be listed on Nasdaq Copenhagen, and all shares carry equal rights.
Noble Corporation plc has successfully closed a $350 million secured term loan, enhancing its financial flexibility. This loan, with a three-year maturity and initial interest rate of Term SOFR plus 3.50%, will replace the legacy Maersk Drilling credit facilities, which had about $460 million outstanding. CEO Robert W. Eifler expressed optimism about the company's future as it heads into 2023.
Noble Corporation plc (NYSE: NE) reported Q3 2022 results with a net income of $34 million and EPS of $0.41, reflecting strong operational improvements following the merger with Maersk Drilling. Total revenue reached $306 million, driven by $289 million from contract drilling services. The company initiated a $400 million share repurchase program aimed at enhancing shareholder returns. Adjusted EBITDA stood at $97 million, with free cash flow of $44 million. Looking ahead, Q4 guidance projects an Adjusted EBITDA between $155 to $175 million.
Noble Corporation plc (NYSE: NE) plans to report its third quarter 2022 financial results on November 2, 2022, after market close. A conference call will follow on November 3, 2022, at 8:00 a.m. U.S. Central Time. Interested parties can join by phone or via a live webcast on Noble's website. Noble is a premier offshore drilling contractor with a focus on ultra-deepwater and high-specification jackup drilling opportunities globally. The company has been a key player in the oil and gas sector since 1921. For more details, visit www.noblecorp.com.
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