Third-quarter net income for the offshore drilling contractor fell to $114.8 million, or 45 cents per share, from $135.3 million, or 53 cents per share, in the year-ago quarter. Jud Bailey, an analyst with International Strategy and Investment Group LLC, said operating costs of $449 million were above his estimates.
Offshore drilling contractor Noble Corp. said Wednesday that its third-quarter net income fell 15 percent because of delays for ships and rigs in the Gulf of Mexico and offshore Brazil. The Zug, Switzerland, company's net income totaled $114.8 million, or 45 cents per share, in the three-month period that ended Sept. 30.
*FBR cuts Noble Corp price target to $48 from $55. Reuters Station users, click. 1568. Reuters Station users, click. 4899.
*FBR cuts Diamond Offshore Drilling Inc to market perform from. *FBR cuts Rowan Companies PLC to market perform from outperform; price. *FBR raises Hercules Offshore Inc price target to $5.25 from $4.40;.
*Raymond James Raises Ensco Plc target price to $67 from $59. *Raymond James Raises Noble Corp target price to $45 from $43. Reuters Station users, click. 1568.
has started drilling a well in the Beaufort Sea off northern Alaska, making good on exploration plans that had been stalled by floating ice, technical delays and problems with meeting oil spill-preparation requirements.