UPDATE 1-Noble Corp CEO says company looking to grow

(Recasts first paragraph, adds share price, additional comments from conference call)

HOUSTON, July 24 (Reuters) - Noble Corp's (NE.N: Quote, Profile, Research, Stock Buzz) chief executive said on Thursday the company was looking at various ways to expand its deepwater drilling fleet and that he also sees opportunity for industry consolidation.

"I think people are in the mood to do it," Chief Executive David Williams said on a conference call to discuss Noble's second-quarter results with analysts.

"I think there are some opportunities out there, some reasonable targets," he said, without elaborating.

Still, he said recent volatility in the markets has made it difficult to value companies.

The executive provided a rosy industry outlook, telling investors global drilling markets remained very strong.

"In a quarter marked by significant volatility in commodities prices, we continue to see good opportunities in retail prices for both deepwater rigs and jackups," Williams said.

On Wednesday after the close, Noble said its second-quarter profit climbed 30 percent to $376 million, or $1.40 per share.

The company's shares fell 1.4 percent, or 76 cents, to $52 in Thursday afternoon trading on the New York Stock Exchange. (Reporting by Anna Driver; Editing by Braden Reddall)