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Noble Sees Rig Utilization Dip by 10% in 1Q; Talks Outlook
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Noble Corporation plc reported first quarter 2016 net income attributable to Noble Corporation of $105 million, or $0.42 per diluted share, on revenues of $612 million.
Key Points: Utilization of the Company's 16 floating rigs, comprised of eight drillships and eight semisubmersibles, all of which are capable of deep and ultra-deepwater operations, was 74 percent in the first quarter, compared to 84 percent in the fourth quarter. Fleet downtime of 3.8 percent indicative of strong operational execution Contract drilling service costs decline 16 percent from fourth quarter Debt to total capital ratio improves to 36 percent as total debt falls $300 million Liquidity of approximately $2.7 billion enhances financial flexibility Contract extension of up to two years for jackup Noble Hans Deul…- ✓ Full news archive — U.S., Canada & international coverage
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