LONDON, April 9, 2020 /PRNewswire/ -- Noble Corporation
plc (NYSE: NE) today announced that its report of drilling rig
status and contract information has been updated as of April 9, 2020. The report, titled "Fleet
Status Report," can be found on the Company's Website
www.noblecorp.com, under the "Investor Relations" section of the
Website.
In addition, the Company expects that the decline in oil prices
resulting from the substantial increase in production by
Saudi Arabia and the decrease in
demand for crude oil resulting from the COVID-19 pandemic will
negatively impact the Company's business and results of operations
for its full year 2020, but, given the uncertainty surrounding the
disruptions, cannot yet predict with reasonable accuracy the
magnitude or duration of the impact, or the magnitude or pace of
any recovery. As a result, the Company is withdrawing its full year
2020 financial guidance that was provided on its February 20, 2020 conference call. Though the
Company has not yet completed its review of results for the
recently completed first quarter of 2020, it does not expect that
its results of operations will differ materially from its
previously announced financial guidance for the quarter.
About Noble Corporation plc
Noble is a leading
offshore drilling contractor for the oil and gas industry. The
Company owns and operates one of the most modern, versatile and
technically advanced fleets in the offshore drilling industry.
Noble performs, through its subsidiaries, contract drilling
services with a fleet of 25 offshore drilling units, consisting of
12 drillships and semisubmersibles and 13 jackups, focused largely
on ultra-deepwater and high-specification jackup drilling
opportunities in both established and emerging regions worldwide.
Noble is a public limited company registered in England and Wales with company number 08354954 and
registered office at 10 Brook Street, London, W1S 1BG England. Additional information on Noble is
available at www.noblecorp.com.
Forward-looking Disclosure Statement
Statements
regarding financial guidance, future performance, our financial
position and expectations regarding results for the first quarter
of 2020, as well as any other statements that are not historical
facts in this release, are forward-looking statements that involve
certain risks, uncertainties and assumptions. These include but are
not limited to operating hazards and delays, risks associated with
operations outside of the U.S., actions or claims by regulatory
authorities, customers and other third parties, legislation and
regulations affecting drilling operations, compliance with
regulatory requirements, factors affecting the level of activity in
the oil and gas industry, supply and demand of drilling rigs,
factors affecting the duration of contracts, the actual amount of
downtime, factors that reduce applicable dayrates, violations of
anti-corruption laws, hurricanes and other weather conditions,
public health threats including the COVID-19 (Coronavirus Disease
2019) pandemic, completing our review of our results of operations
for the first quarter of 2020 and finalizing and closing our
accounting records for such quarter, market conditions, the future
price of oil and gas and other factors detailed in the Company's
most recent Form 10-K, Form 10-Q's and other filings with the
Securities and Exchange Commission. Should one or more of these
risks or uncertainties materialize, or should underlying
assumptions prove incorrect, actual results may vary materially
from those indicated.
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SOURCE Noble Corporation