Revisiting Noble Corporation Investment Thesis and Importance of Sell Discipline
Over the past eight months, a number of articles have appeared on The Rational Walk related to the Deepwater Horizon disaster and related investment opportunities. Value investors know that times of stress and uncertainty create opportunities in the financial markets ...
Noble Corporation Q3 Results Impacted by Moratorium But Worst May Have Passed
Noble reported third quarter 2010 earnings of $86 million, or $0.34 per share, compared to $426 million, or $1.63 per share for the third quarter of 2009. Contract drilling revenues fell precipitously to $584.9 million for the third quarter of ...
Noble CEO Forecasts Continued Gulf of Mexico Uncertainty Ahead
Noble Corporation Chairman and CEO David Williams believes that uncertainty in the Gulf of Mexico will continue to impact the offshore drilling industry for some time to come. Mr. Williams, speaking today at the Barclays Capital Energy and Power Conference ...
Modern Drilling Rigs Have Advantage Under Proposed Regulations
New rules for offshore drilling under consideration in Congress could create major competitive advantages for offshore contract drillers that have heavily invested in modern drilling fleets in recent years. According to The Wall Street Journal, legislation designed to prevent future ...
Proposed Mediterranean Deepwater Moratorium Unlikely to Gain Traction
According to The Financial Times, pressure is growing in Europe to impose a moratorium on deepwater drilling in the Mediterranean Sea. BP is planning to begin deepwater operations off the coast of Libya within weeks and has a rig in ...
Deepwater Drilling Ban Continues to Devastate Gulf Coast Economy
The six month moratorium on exploratory deepwater drilling the Gulf of Mexico is continuing to heavily impact the economy of the Gulf Coast. Despite two court rulings, the federal government is continuing to insist on a complete halt to deepwater ...