This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

Noble Corporation's CEO Presents At UBS Global Energy & Gas Conference (Transcript)

Stocks in this article: NE

So, I will put this picture up. It's a great picture, shows the Bully in the front, undergoing sea trials in the Gulf of Mexico as Globetrotter was sailing, the Gulf of Mexico passed it. A lot of you will think it’s a rig picture. It’s actually not, very rarely you get to a ship, so this is [Caliber] in the same picture. But it's a great picture I like it, so I felt that it (inaudible) alright.

Noble is a 91-year old company started at 1921 by [Samuel] Lloyd Noble, he actually borrowed money from his mother to buy used land rig and started drilling land, wells on shore in around the Ardmore area. We drilled our first well offshore in the 30s and actually one of our first overseas assignments was in World War II, we drilled 100 wells offshore with Forest, kind of author (inaudible) very interesting book called [A Secret Shore] was about drilling wells in the UK during the war.

Actually the onshore business in the mid 90s and today we operate a suite of exclusively offshore rigs. By rig account we are the second largest offshore drilling contractors with 79 units that counts 14 semis, 14 ships, 49 jackups and then we also have two submersibles which are stacked on a shelf in the US Gulf of Mexico. We also have an FPSO and we operate the [Harbania] platform of Eastern Canada for Exxon Mobil, we’ve operated that since the start.

Of those 79 rigs we have 11 rigs currently in a construction. I’ll talk about those in a little bit more detail here in a minute. We operate most of the major offshore regions around the world. On the floating side, it's primarily deep water. We only have three floating rigs that operate at less than 4000 feet of water. So we are almost exclusively a deep water contractor. We operate predominately in the US Gulf of Mexico and Brazil, but we also have operations -- floating operations in the North sea, the Mediterranean and we’ll soon start in Australia.

2 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,827.75 +12.81 0.07%
S&P 500 2,072.83 +5.80 0.28%
NASDAQ 4,787.3170 +29.0650 0.61%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs