Investors Disappointed by Noble's Lack of Good News on Stacked Rigs.
Noble shares fell sharply as the company announced a $0.23 per share adjusted loss for the third quarter. The decline from a $0.01 gain in second quarter is attributable to a fall in utilization of the company’s high-cost floater rigs, which in turn largely was due to the two rigs that were released per Freeport McMoran’s termination of its contract with Noble. This contract termination is old news, but perhaps investors looking for guidance from management on how the released rigs might return ...
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