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EnvestorFirst (< 20)

Noble Corp. Ensures Increased Deepwater Oil Demand



October 27, 2011 – Comments (2) | RELATED TICKERS: NBL , USO

Despite the lowering oil prices we have seen lately, Noble energy is still creating higher demands within the offshore oil industry. They have seen growing revenue and higher need for offshore rigs. Augstino Fontevecchia explains why and how Noble is creating these increased demands. 

"Noble’s third quarter was marked by solid demand for its different rigs and vessels.  The company’s total rig utilization reached 76% on 4,644 total operating days at an average daily rate of $151,782.

“The third quarter was highlighted by a number of accomplishments that further advance the strategic transformation of our fleet,” said David Williams, chairman, president, and CEO of Noble.  The company has exercised options to add three additional high specification jackup rigs to its construction backlog and a fourth ultra-deepwater drillship, Williams said."


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2 Comments – Post Your Own

#1) On October 27, 2011 at 2:06 PM, TDRH (96.90) wrote:

Not to offend you, but there is a difference between Noble Energy and Noble Drilling.

Your symbol for Noble Drilling is incorrect.   David Williams is CEO of Noble Drilling, symbol NE. 

Noble Energy NBL is in exploration and production company and on occasion contracts Noble Drilling's Rigs. 



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#2) On November 01, 2011 at 11:18 AM, EnvestorFirst (< 20) wrote:

No offense taken, my mistake! Looks like my overworking has lead to mistakes... I am always open to correction! Thanks!

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