Noble Corp. Provides Capital Expenditure Guidance for the First Quarter and Full Year of 2015
Feb 5 15
Noble Corp. provided capital expenditure guidance for the first quarter and full year of 2015. For the quarter, DD&A is expected to be in the range of $150 million to $155 million. The company expects depreciation to increase about $3 million to $5 million per quarter through 2015. Net interest expense in the first quarter is expected to be $40 million to $45 million. Total capital spending for the first quarter is expected to be about $125 million.
DD&A for the full year is expected to be in the range of $620 million to $635 million, about flat for 2014. Interest expense, net of capitalized interest, is expected to total $170 million to $180 million, based on its existing debt structure. $20 million above the total for 2014, primarily due to lower capitalized interest following the completion of newbuilds in 2014. Capitalized interest in 2015 is expected to total $30 million. The company expects effective tax rate in 2015 is expected to increase to a range of 24% to 25%, compared to 18% to 20% in 2014. Finally, the company expects capital expenditures for 2015 to be $585 million, down from approximately $1.9 billion in 2014. Sustaining capital expenditures are expected to total $170 million of the spend in 2015, up from $148 million in 2014, as a result of the increase in fleet size and the change to a more premium mix of assets. Capitalized interest is expected to total $25 million to $35 million in 2015. The company currently expects to have positive free cash flow in 2015.
Noble Corp. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Reports Impairment Charges for the Fourth Quarter Ended December 31, 2014
Feb 4 15
Noble Corp. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported net loss attributable to company of $609,569,000 or $2.44 per basic and diluted share, compared to income of $174,060,000 or $0.68 per basic and diluted share a year ago. Operating revenues were $804,740,000 compared to $725,089,000 a year ago. Operating loss was $541,864,000 compared to income of $205,879,000 a year ago. Loss before income taxes was $583,978,000 compared to income of $176,647,000 a year ago. Loss from continuing operations was $580,004,000 or $2.38 per basic and diluted share, compared to income of $158,871,000 or $0.56 per basic and diluted share a year ago. The company recorded net cash from operating activities of $390 million in the fourth quarter of 2014, resulting in net cash from operating activities for the full year 2014 of $1.8 billion. capital expenditures in the fourth quarter totaled $325 million, including $149 million related to the company's newbuild program, which included the delivery of the final JU3000 high-specification jackup rig, the Noble Sam Hartley.
For the full year, the company’s net income attributable to company of $8,491,000 or $0.03 per basic and diluted share, compared to $782,697,000 or $3.05 per basic and diluted share a year ago. Operating revenues were $3,232,504,000 compared to $2,538,143,000 a year ago. Operating income was $185,942,000 compared to $740,537,000 a year ago. Income before income taxes was $29,465,000 compared to $638,421,000 a year ago. Loss from continuing operations was $77,186,000 or $0.60 per basic and diluted share, compared to income of $546,304,000 or $1.86 per basic and diluted share a year ago. Net cash from operating activities was $1,778,208,000 compared to $1,702,317,000 a year ago. Capital expenditures, for the full year 2014, excluding expenditures related to Paragon Offshore prior to the August 1, 2014 spin-off, totaled $1.9 billion.
For the fourth quarter of 2014, the company reported loss on impairment of $745,428,000.
Noble Corporation Declares Quarterly Dividend, Payable on February 6, 2015
Jan 30 15
Noble Corporation plc announced its Board of Directors has scheduled the payment of the company's quarterly cash dividend of $0.375 per share. The ex-dividend date for this payment is expected to be February 6, 2015, with a record date of February 10, 2015 and a payment date of February 20, 2015.