Noble Corp Stock Price, News & Analysis

Noble reported Q3 2024 results following the closure of Diamond acquisition on September 4th. Key highlights include: net income of $61 million, diluted EPS of $0.40, and Adjusted EBITDA of $291 million. The company generated $284 million in operating cash flow and $165 million in free cash flow. The Board approved a $0.50 per share dividend for Q4 2024 and authorized an additional $400 million share repurchase program. Q4 2024 guidance projects revenue of $850-890 million and Adjusted EBITDA of $275-305 million. The company's current backlog stands at $6.2 billion.

Noble plc (CSE: NOBLE, NYSE: NE) has announced plans to release its third quarter 2024 financial results on Tuesday, November 5, 2024, after the U.S. market closes. The company will host a conference call to discuss the results on Wednesday, November 6, 2024, at 8:00 a.m. U.S. Central Time.

Interested parties can access the call by dialing +1 (800) 715-9871 and referencing conference ID 31391. Alternatively, a live webcast will be available on the Investor Relations section of Noble's website. The earnings press release and accompanying presentation will be accessible on the company's website at www.noblecorp.com. A replay of the webcast will be available for a time following the call.

Noble plc (NYSE: NE) has announced changes to its share capital for September 2024. The company repurchased approximately $205.7 million of A ordinary shares at a weighted average price of $35.63 per share, with 6,938,128 repurchased shares cancelled. Additionally, 45 new A ordinary shares were issued due to warrant exercises at $23.13 per share, generating $1,040.85 in proceeds.

Following these changes, Noble has 160,341,619 A ordinary shares outstanding. The company also announced its intention to voluntarily delist from NASDAQ Copenhagen in late 2024 or early 2025, while maintaining its primary listing on the New York Stock Exchange. Shareholders of Danish Shares have options to transfer their shares to NYSE or sell prior to delisting.

Noble plc (NYSE: NE) has completed its acquisition of Diamond Offshore Drilling, Inc, enhancing its position as a leading offshore driller. The transaction creates the largest fleet of 7th generation dual-BOP drillships in the industry and adds approximately $2 billion of backlog. Noble has appointed Patrice Douglas from Diamond's board to serve as a new director. The company's current backlog has increased to $6.7 billion, including 4.8 rig years of backlog recently awarded under the Commercial Enabling Agreement with ExxonMobil for operations in Guyana. Noble issued 24,239,941 class A ordinary shares to former Diamond shareholders, bringing the total outstanding shares to 167,279,702.

Noble plc (NYSE: NE, CSE: NOBLE) has announced changes to its share capital for August 2024. The company repurchased approximately $44.2 million of A ordinary shares at a weighted average price of $37.90 per share. Additionally, 120,506 new A ordinary shares were issued, including 110,620 shares from warrant exercises and 9,886 shares to employees from vested restricted stock units. The total outstanding A ordinary shares now stand at 143,039,218.

Noble also revealed its intention to voluntarily delist from NASDAQ Copenhagen in late 2024 or early 2025, while maintaining its primary listing on the New York Stock Exchange. Shareholders of Danish Shares have options to transfer their shares to NYSE or sell prior to delisting.

Noble (NYSE: NE) and Diamond Offshore Drilling (NYSE: DO) have announced a significant update regarding their pending transaction. The companies have received clearance from the Australia Competition & Consumer Commission, which marks the final required regulatory approval for the deal. With this milestone achieved, Noble and Diamond Offshore are now set to close the transaction on Wednesday, September 4th, 2024. This development represents a important step forward in the merger process between these two major players in the offshore drilling industry.

Noble plc (NYSE: NE, CSE: NOBLE) announced the closing of an $800 million offering of 8.000% Senior Notes due 2030 through its subsidiary Noble Finance II These notes are additional to the $600 million previously issued in 2023. The proceeds will primarily fund the cash consideration for the pending merger with Diamond Offshore Drilling, Inc. and general corporate purposes. The new notes share terms with existing ones, except for issue-related details, and are guaranteed by certain subsidiaries. They were offered only to qualified institutional buyers in the U.S. and select international investors, and are not registered under the Securities Act, limiting their transferability.

Noble plc (NYSE: NE, CSE: NOBLE) announced that its subsidiary, Noble Finance II , has priced an upsized offering of $800 million in aggregate principal amount of 8.000% Senior Notes due 2030. The offering, initially set at $675 million, was increased to $800 million and priced at 103% of the principal amount. Closing is expected around August 22, 2024. The proceeds will fund the cash consideration for Noble's pending merger with Diamond Offshore Drilling, Inc. and general corporate purposes. These notes will be issued under the same indenture as the existing $600 million of 8.000% Senior Notes due 2030, forming a single series. The notes are being offered to qualified institutional buyers in the U.S. under Rule 144A and to non-U.S. persons under Regulation S of the Securities Act.

Noble plc (NYSE: NE, CSE: NOBLE) announced that its subsidiary, Noble Finance II , is offering an additional $675 million in 8.000% Senior Notes due 2030. These New Notes will be issued under the same indenture as the existing $600 million notes from 2023. The proceeds will fund the cash consideration for Noble's pending merger with Diamond Offshore Drilling, Inc. and general corporate purposes. The New Notes will have the same terms as the Existing Notes, except for issue-related details, and will be guaranteed by certain subsidiaries. They are being offered only to qualified institutional buyers in the U.S. and to non-U.S. persons under Regulation S, and have not been registered under the Securities Act.