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 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.
Noble Corporation has completed the sale of five drilling rigs, known as the Remedy Rigs, to Shelf Drilling for $375 million. This transaction is part of Noble's recent combination with Maersk Drilling. The sale enhances Noble's balance sheet and capital flexibility. All staff and support related to the Remedy Rigs will transition to Shelf Drilling, while Noble will continue operations on the Noble Lloyd Noble rig under a bareboat charter until its contract with Equinor concludes in Q2 2023. This divestment marks a key step in Noble's transformative business strategy.
Noble Corporation has successfully completed its business combination with Maersk Drilling as of October 3, 2022. This merger results in a unified organization poised to enhance operational and financial opportunities while benefiting from a world-class fleet and contract backlog exceeding $4 billion. The merger is expected to generate annual cost synergies of at least $125 million within two years. Noble also announced new financing commitments, including a $350 million loan, and plans to sell five jackup rigs for $375 million. Trading commenced today under the symbol 'NE'.
Noble Corporation has successfully completed its Cayman Merger with Noble Newco Sub Limited, ceasing its previous existence. The merger received overwhelming shareholder approval, with approximately 99% voting in favor. Following this, the Topco Shares have been listed on the New York Stock Exchange as of September 30, 2022. The board of directors has changed, with Chuck Sledge as Chairman and Robert Eifler as CEO. Additionally, a Long-Term Incentive Plan (LTIP) has been adopted, reserving 5,888,624 shares. The exchange offer to acquire shares of Maersk Drilling is also underway, marking a significant business combination.
Noble Corporation plc, through its subsidiary Topco, has successfully completed a voluntary public share exchange offer for Maersk Drilling's shares. The offer, which ran from August 10, 2022, until September 8, 2022, received acceptances for 37,266,530 shares, representing approximately 89.73% of Maersk Drilling's capital. Settlement is expected on October 3, 2022. With over 90% acceptances, Topco plans to exercise compulsory purchase rights for remaining shares and has requested delisting from Nasdaq Copenhagen, effective October 4, 2022.
Noble Corporation plc announced the preliminary results of its voluntary public share exchange offer for The Drilling Company of 1972 A/S, also known as Maersk Drilling. As of September 8, 2022, Noble received acceptances for approximately 37,266,171 shares, representing 89.73% of Maersk Drilling's share capital. The offer became valid on August 10, 2022, and all conditions for completion were met as of the announcement date. The final results will be disclosed by September 13, 2022. Cash elections for interim acceptance shares will be available from September 12 to September 26, 2022.
Noble Corporation plc has completed a significant step in its Exchange Offer to acquire The Drilling Company of 1972 A/S (Maersk Drilling). The Danish Financial Supervisory Authority approved its Listing Prospectus for up to 159,360,728 shares on Nasdaq Copenhagen. The shares will also be listed on the NYSE under the symbol 'NE', with trading expected to start around September 30, 2022. The Exchange Offer, set to conclude on September 8, 2022, is backed by Maersk Drilling's board, indicating a strategic move to combine operations and expand market presence.
Noble Corporation plc announced a reminder for Maersk Drilling shareholders regarding the Exchange Offer, aiming to acquire the entire share capital of Maersk Drilling. The Offer Period is set to expire on September 8, 2022, at 23:59 CEST. This offer has been endorsed by the board of Maersk Drilling, encouraging shareholders to participate before the deadline. The Offer Document, approved by Danish authorities, details the terms and conditions of the Exchange Offer, available on Noble's website.