United States

Noble Corporation PLC (NE.N)

NE.N on New York Stock Exchange

26 May 2017
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Latest Key Developments (Source: Significant Developments)

Noble Corp reports Q1 loss per share $0.17 excluding items
Thursday, 4 May 2017 05:00pm EDT 

May 4 (Reuters) - Noble Corporation Plc :Noble Corporation PLC reports first quarter 2017 results.Q1 loss per share $0.17 excluding items.Q1 loss per share $1.24.Q1 earnings per share view $-0.19 -- Thomson Reuters I/B/E/S.Noble Corporation PLC - qtrly total average rig utilization 69 percent versus 79 percent last year.Noble Corporation PLC - qtrly total average dayrate $202,674 versus $287,169 last year.Noble Corporation - at March 31, 2017, contract backlog totaled $3.5 billion with estimated $2.0 billion relating to floating rig fleet, $1.5 billion to jackup rig fleet.Noble Corporation - quarterly results reflect negative impact of a non-cash, discrete tax item of $260 million following a internal reorganization.Qtrly operating revenue $363 million versus $612 million.Q1 revenue view $366.1 million -- Thomson Reuters I/B/E/S.Noble Corporation - "contract awards, especially in jackup sector, are occurring with greater frequency, and field development activity is up, relative to recent past".Noble Corp - "we believe long-term oil market fundamentals are supportive of stable to higher crude oil prices, which with time will support an increase in rig demand".  Full Article

Paragon Offshore says consensual restructuring agreement reached between secured, unsecured lenders
Tuesday, 2 May 2017 10:50am EDT 

May 2 (Reuters) - Paragon Offshore plc::Paragon Offshore announces consensual restructuring agreement reached between secured and unsecured lenders, establishing litigation trust for creditors to pursue claims against Noble Corporation.Says unsecured noteholders to receive $105 million in cash and 50% of new common equity.Under Consensual Plan, company expects to emerge from Chapter 11 with approximately $160 million in cash.As per plan, term lenders, revolver lenders to get pro rata shares of $410 million in cash, 50% of new equity, new term debt of $85 million.Under Fourth Joint Plan of reorganization, co agreed to abandon previously disclosed settlement agreement with Noble Corp.Believes its Consensual Plan will allow company to forgo tax bonding support that would have been provided under Noble settlement.Co formally terminated Noble Settlement on April 21, 2017.Under Consensual Plan, first $10 million of proceeds from litigation against Noble will be applied to repay Litigation Loan Amount.Under Consensual Plan, balance of first $10 million of proceeds will be shared 50%/50% between noteholders and secured creditors.  Full Article

Noble Corp announces partnership with GE
Monday, 27 Mar 2017 08:00am EDT 

General Electric Co : Noble Corporation-announces partnership with GE to collaborate on advanced data analytics system for offshore drilling rigs .Noble Corporation Plc - agreement calls for GE to initially deploy its digital asset performance management system on 4 Noble drilling rigs.  Full Article

Noble Corp says Transocean filed patent infringement suit against co in Jan
Friday, 24 Feb 2017 12:37pm EST 

Noble Corp Plc : Noble Corp Plc - In Jan 2017, a subsidiary of Transocean Ltd filed suit against co and certain of its units for patent infringement in a Texas federal court . Noble Corp Plc - Suit claims that five of Noble's newbuild rigs that operated in U.S. Gulf of Mexico violated Transocean patents relating to dual-activity drilling .Noble Corp Plc says it was aware of the patents when co constructed the rigs, and does not believe the rigs infringe Transocean patents, which are now expired.  Full Article

Noble Corporation names Adam Peakes as chief financial officer
Monday, 21 Nov 2016 08:39am EST 

Noble Corporation Plc : Noble Corporation Plc - Adam C. Peakes, 43, has been named as senior vice president and chief financial officer of company, effective January 23, 2017 .Noble Corporation plc names Adam Peakes as chief financial officer.  Full Article

Noble Corporation reports Q3 2016 results
Thursday, 3 Nov 2016 05:00pm EDT 

Noble Corporation Plc : Utilization of company's 14 jackup rigs was 80 pct in Q3 compared to 83 pct in previous quarter . Qtrly average rig utilization 59 pct versus 82 pct . Noble Corporation plc - at September 30, 2016, Noble's total contract backlog was $4.7 bln . Qtrly average dayrate $238,869 versus $385,755 . "preservation of liquidity remains a chief component of our financial strategy as we plan ahead" . Noble Corporation plc reports third quarter 2016 results . Q3 revenue $385 mln versus I/B/E/S view $408.7 mln . Q3 loss per share $0.23 .Q3 earnings per share view -$0.19 -- Thomson Reuters I/B/E/S.  Full Article

Paragon Offshore announces agreement in principle for restructuring agreement with bondholders and revolver banks
Monday, 8 Aug 2016 08:30am EDT 

Paragon Offshore Plc : Revolving credit agreement will still be modified to include a $165 million cash paydown with balance of approximately $631 million . Under revised plan, bondholders will collectively receive $285 million of cash, or $60 million less than in original plan . Expects to emerge from its bankruptcy process in october . Is in process of seeking requisite signatures to amended psa from revolver lenders . Definitive settlement agreement between paragon and noble corporation remains in place with certain modifications . Noble will provide direct bonding for requirements necessary to challenge tax assessments in mexico relating to paragon business for tax years 2005 through 2010 . Paragon offshore announces agreement in principle for revised restructuring agreement with bondholders and revolver banks . Agreement further enhances liquidity and strengthens balance sheet by allowing paragon to retain $60 million of additional cash .Contingency payment provisions in original plan for 2016 and 2017 have been eliminated under revised plan.  Full Article

Noble Corp posts Q2 adj. EPS $0.01, reduces FY capex forecast
Wednesday, 27 Jul 2016 05:00pm EDT 

Noble Corporation Plc : Noble corporation plc reports second quarter 2016 results . Q2 revenue $895 million . Full year capital expenditure estimate reduced to $675 million . Qtrly average dayrate $ 509,145 versus $ 340,217 . Q2 revenue view $510.4 million -- Thomson Reuters I/B/E/S . Q2 earnings per share $0.01 excluding items . Q2 earnings per share view $0.06 -- Thomson Reuters I/B/E/S . "Industry conditions remain challenging" . "Utilization in our floating rig fleet declined steeply in quarter, due in part to contractual settlement with Freeport" . Says at June 30, 2016, noble's total contract backlog stood at $5.1 billion .Qtrly average rig utilization 65% versus 83%.  Full Article

Noble corporation announces agreement with Freeport-Mcmoran
Tuesday, 10 May 2016 10:00am EDT 

Noble Corporation Plc : Noble Corporation Plc announces agreement with Freeport-Mcmoran . Noble to receive $540 million payment plus potential $75 million in contingent payments . Deal for $540 millio . In addition, noble can receive additional contingent payments from freeport of $25 million and $50 million . Expects to realize over $100 million in direct cost savings as a result of contract terminations through crew reductions and stacking procedure . Agreement in connection with drilling contracts for drillships noble sam croft and noble tom madden . Noble also expects to realize over $100 million in direct cost savings . Freeport can make $540 million payment through a combination of cash, freeport shares and up to $200 million in near-term noble bonds .Pursuant to agreement, drilling contracts will be terminated, with operations ceasing as soon as practicable.  Full Article

Noble Corporation plc announces adjusted dividend
Friday, 22 Apr 2016 11:04am EDT 

Noble Corporation plc:Board of Directors to adjust the Company's dividend and declare a quarterly dividend of $0.02 per share.Ex-dividend date for this payment is expected to be April 28.Record date of May 2.Payment date of May 9.  Full Article

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