Noble (NE) News & Sentiment

NE's new contract involves drilling one well using the Noble Regina Allen rig. The project is expected to begin in the fourth quarter of 2025.

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Noble Corporation plc (NYSE:NE ) Q4 2024 Earnings Conference Call February 18, 2025 10:00 AM ET Company Participants Robert Eifler - President and Chief Executive Officer Richard Barker - Chief Financial Officer Joey Kawaja - Senior Vice President of Operations Ian MacPherson - Vice President of Investor Relations Conference Call Participants Arun Jayaram - JPMorgan Eddie Kim - Barclays Fredrik Stene - Clarksons Securities Kurt Hallead - Benchmark Noel Parks - Tuohy Brothers Josh Jane - Daniel Energy Partners David Smith - Pickering Energy Partners Operator Good morning, ladies and gentlemen, and thank you for standing by. My name is Kelvin and I will be your conference operator today.

Noble Corporation PLC (NE) has the right mix of factors that could lead to better earnings in its next report. Be ready for the important expectations.

HOUSTON, Feb. 3, 2025 /PRNewswire/ -- Noble Corporation plc ("Noble" or the "Company") (NYSE: NE) has announced its intention to sell the cold stacked drillships Pacific Meltem and Pacific Scirocco. This decision aims to reduce costs associated with these vessels and focus resources on their current fleet. The Company plans to dispose of these units in a way that would permanently remove them from drilling operations, possibly by scrapping them.

Noble Roman's, Inc., located in Indianapolis and known for its pizza franchises, announced on January 30, 2025, that it has reached an agreement with Corbel Capital Partners to extend its senior lending facility by 60 days, now due on April 7, 2025. Both Noble Roman's and Corbel believe that this extension will benefit all equity stakeholders by allowing them to secure better terms for the company's financial restructuring. This includes plans for repaying the Corbel loan and other debts, as well as addressing additional company needs.

After acquiring Maersk Drilling and Diamond Offshore, Noble Corporation has become one of the biggest offshore drilling companies, just behind Transocean in terms of enterprise value. Noble has a well-structured capital setup, with net debt making up less than 25% of its enterprise value, while Seadrill has very little net debt and Transocean has too much. Currently, Noble produces strong free cash flows that are about 10% of its market value, with most of this extra cash going to shareholders through buybacks and dividends.

NE's new drilling project in Australia is expected to take a minimum of 37 days. This project will take place after Ocean Apex has completed its previous tasks in the area.

Noble Corporation's drillship, the Noble Venturer, is set to start working off the coast of Ghana in 2025. Meanwhile, the Noble Globetrotter I is expected to begin its contract in early January 2025.