NEW YORK, NY / ACCESSWIRE / October 23, 2017 / Traders News Source, a leading independent equity research and corporate access firm focused on small and mid-cap public companies is issuing a comprehensive report with no obligation on Noble Corporation plc (NYSE: NE), an offshore drilling contractor for the oil and gas industry. The company focuses on ultra-deepwater and high specification jackup drilling opportunities in both established and emerging markets across the globe. The company's fleet consists of 28 offshore drilling units, which include 14 jackups, eight drillships, and six semisubmersibles.

The first six months of 2017 have been challenging for offshore drillers. The primary cause is excess rig supply due to reduced offshore spending triggered by low oil prices. Customers have become more cautious with capital spending after crude oil prices declined from more than $100 in mid-2014 to approximately $30 per barrel in early 2016. Although oil prices have recovered somewhat recently (to approximately $50 per barrel), the company expects that offshore drilling programs will remain curtailed until prices rise further, and volatility is reduced.

Is Noble struggling with oil at $50, analysts price target, and financial review here READ MORE

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Noble provides a monthly update on its fleet utilization and bookings. The October report did bring some good news ? a new three-month contract for the Noble Bob Douglas (which had been idle for a significant portion of the second quarter) in the Gulf of Mexico, and a new one-year contract for the Noble Houston Colbert in Qatar. This is partly offset by the fact that the Noble Sam Hartley will complete its contract ahead of schedule.

Get a full description of Noble's fleet and drill rig operations and a company outlook READ MORE

Copy and paste to your browser may be required to view the report ? http://tradersnewssource.com/noble-corporation/

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