Key Takeaways From Noble Corp's Earnings
After warnings from a number of sources highlighted the current pause in the offshore drilling sector, Noble Corp. (NYSE: NE ) reported solid first-quarter earnings that smashed estimates. The stock wasn't so upbeat, however, trading slightly down.
The offshore driller continues to transition the fleet to a more modern one with high specification ultra-deepwater drillships and high-specification jackups. Also, Noble is in the midst of spinning off the old standard specification rigs into a new firm called Paragon Offshore via an IPO later this year.
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