Noble Posts Solid Quarter, Prudently Retires Older Rigs
Noble posted a solid fourth quarter, with operating income ex-special items rising from sequentially from about breakeven in the third to about $70 million in the fourth. The company benefited from higher operating days on two of its contracted rigs as well as continued success in its cost reduction efforts.The company elected during the quarter to retire two third-generation (built in the early 80s) semisubmersible rigs, in light of “limited market opportunities†and high potential reactivatio...
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