Noble Corp (NE) Wins 2 New Contracts, Extension

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Noble Corporation plcNE recently published its fleet status report, per which the company has won two new contracts as well as received an extension for one of its jackup rigs.

Noble Regina Allen

Built in 2013, Noble Regina Allen won a contract from Encana Corp. ECA . The contract will begin operation offshore Canada in mid-January 2020. The contract is expected to expire in mid-May 2020. The day rate for the deal has not yet been disclosed by the companies. Currently, the jackup is working for Exxon Mobil Corp. XOM at $94,000 day rate offshore Canada and will continue till mid-December 2019.

Noble Sam Hartley

Noble Sam Hartley - built in 2014 - won an award from TOTAL S.A. TOT for its operations in the United Kingdom for an undisclosed day rate. The contract for this F&G JU-3000N jackup will start early October and is expected to last till July 2019. The rig is currently available and warm stacked, as it came from its last contract in January from Malaysia.

Noble Sam Turner

Noble Sam Turner - built in 2014 - is a jackup rig that received a contract extension from TOTAL. It is presently operating offshore Denmark. The day rate for its extension is yet to be disclosed. The previous contract, which was expected to be over by late August 2018, had a day rate of $96,500. The extension is expected to expire in early March 2020.

Price Performance and Zacks Rank

Noble Corporation has lost 23.5% of its value in the past two years compared with 16% fall of the industry it belongs to. The London-based offshore drilling contractor currently has a Zacks Rank #3 (hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here .

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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