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Noble Corporation plc reports news around its offshore contract drilling business for the oil and gas industry. Company updates focus on operating and financial results, contract drilling services revenue, new rig contracts, backlog, dividends, capital spending guidance, and fleet status across ultra-deepwater and high-specification jackup drilling opportunities.
Noble's recurring announcements also cover changes to its offshore rig portfolio, including completed jackup rig divestitures, rig reactivations, extensions for named rigs, and customer demand across established and emerging offshore basins worldwide. The company provides contract drilling services through subsidiaries using mobile offshore drilling units deployed for integrated, independent, and government-owned oil and gas customers.
Noble Corporation reported strong fourth quarter results with total revenue of $623 million, up from $306 million in Q3 2022, driven by the merger with Maersk Drilling. The company achieved $50 million in synergies to date and is targeting $125 million. Share repurchases totaled $96 million. The contract drilling services revenue was $586 million, while net income stood at $135 million. For 2023, guidance is set for total revenue between $2.35 billion and $2.55 billion, with adjusted EBITDA estimated at $725 million to $825 million.
Noble Corporation plc (NYSE: NE) issued a correction on February 17, 2023, regarding previous announcements about share transactions by its managerial personnel. Earlier, it was incorrectly reported that Blake A. Denton and Joey M. Kawaja exchanged 3,076 shares, but neither exchanged any shares. Furthermore, the number of A ordinary shares received by Alan J. Hirshberg, Ann D. Pickard, and Charles M. (Chuck) Sledge was also revised significantly down from 22,796 to 13,677, 13,677, and 16,322 respectively. These amendments pertain to the accelerated vesting of restricted share units due to previous business combinations. Details align with EU Market Abuse Regulation requirements.
Noble Corporation plc (NYSE: NE) has announced the date for its fourth quarter 2022 financial results. The results will be reported on February 26, 2023, followed by a conference call on February 27, 2023, at 9:00 a.m. CT. Participants can join the call via telephone or via a live webcast available on the company's website. Noble Corporation is recognized as a leading offshore drilling contractor, operating a modern fleet primarily focused on ultra-deepwater and high-specification drilling. Interested stakeholders can find more information on Noble's official website.
Noble Corporation plc (NYSE: NE) announced the vesting of restricted share units resulting in the allocation of new A ordinary shares to its senior management. On February 3 and 5, 2023, various executives received shares with zero price attributed to the transactions. Richard B. Barker, CFO, received 9,009 and 45,687 shares; Robert W. Eifler, CEO, received 28,829 and 166,423 shares; other executives also received their shares with tax withholding adjustments made for each transaction. The notifications comply with the EU Market Abuse Regulation, ensuring transparency in managerial transactions.
Noble Corporation plc (NYSE: NE) announced significant changes to its share capital as of January 31, 2023. Since December 30, 2022, the company issued 122 new A ordinary shares due to warrant exercises, generating total proceeds of USD 2,463.27. The exercise prices were USD 19.27 for 15 shares and USD 23.13 for 94 shares. Concurrently, Noble cancelled 270,098 A ordinary shares acquired through a repurchase program. This adjustment leaves a total of 134,410,871 A ordinary shares outstanding, with a nominal value of USD 0.00001 each. The new shares will be listed on Nasdaq Copenhagen.
Noble Corporation plc announced its operational and financial update for Q4 2022, expecting Adjusted EBITDA between $140 and $150 million, down from the previous estimate of $155 to $175 million, primarily due to mechanical issues on the Noble Regina Allen. As of December 31, 2022, Noble's debt stood at $673 million with $470 million in cash, resulting in a net debt of $203 million. The company executed over $85 million in share repurchases. Operational updates include new contracts for various drillships, with a backlog estimated at approximately $148 million.
Noble Corporation plc (NYSE: NE) announced changes to its share capital. From November 30, 2022, 685 new A ordinary shares were issued, raising a total of USD 14,215.65 from warrant exercises at varying prices. Additionally, 407,477 A ordinary shares were cancelled, resulting in a total of 134,680,847 A ordinary shares outstanding. The newly issued shares will be listed on Nasdaq Copenhagen, and all shares carry equal rights.
Noble Corporation plc has successfully closed a $350 million secured term loan, enhancing its financial flexibility. This loan, with a three-year maturity and initial interest rate of Term SOFR plus 3.50%, will replace the legacy Maersk Drilling credit facilities, which had about $460 million outstanding. CEO Robert W. Eifler expressed optimism about the company's future as it heads into 2023.
Noble Corporation plc (NYSE: NE) reported Q3 2022 results with a net income of $34 million and EPS of $0.41, reflecting strong operational improvements following the merger with Maersk Drilling. Total revenue reached $306 million, driven by $289 million from contract drilling services. The company initiated a $400 million share repurchase program aimed at enhancing shareholder returns. Adjusted EBITDA stood at $97 million, with free cash flow of $44 million. Looking ahead, Q4 guidance projects an Adjusted EBITDA between $155 to $175 million.
Noble Corporation plc (NYSE: NE) plans to report its third quarter 2022 financial results on November 2, 2022, after market close. A conference call will follow on November 3, 2022, at 8:00 a.m. U.S. Central Time. Interested parties can join by phone or via a live webcast on Noble's website. Noble is a premier offshore drilling contractor with a focus on ultra-deepwater and high-specification jackup drilling opportunities globally. The company has been a key player in the oil and gas sector since 1921. For more details, visit www.noblecorp.com.