Investors must be patient with Noble Corporation for now, since the results of the company's new contract developments cannot be reflected until the third quarter of this year. Indeed, the company is seeing troubled times, but there are substantial signs that conditions will improve later this year. The Noble George McLeod, a jack-up rig that is currently undergoing modification in the Arabian Gulf recently secured a new contract with Talisman to perform work in Malaysia starting May 2013. The rig is expected to have a day rate of $115,000 under this contract. This will be the biggest revenue boost for Noble Corporation.To maximize earnings and to capitalize on the opportunities being presented now, Noble Corporation must focus on reducing rig downtime. The company recently issued a statement that it is developing an enhanced plan designed to ensure that its drilling rigs and their related management procedures comply with applicable maritime laws and leading industry practices. If this plan pulls through, then the company may find a way to make up for its lackluster performance last year.
Noble Secures New Contracts, Enhances Management Procedures - Research Report On Noble Corporation
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts