Noble Corporation Plc Provides Operational and Financial Update and Updates on Prior Guidance for Adjusted EBITDA for the fourth quarter of 2022
In accordance with Danish legal and stock exchange requirements, Noble announced that, although Noble has not completed its preparation of audited financial statements for the fourth quarter of 2022, it has determined, based on preliminary results, that it expects Adjusted EBITDA (a non-GAAP financial measure) to be between
Noble also provides the following operational and contracting updates. The drillship
The drillship Noble Globetrotter I is expected to commence its previously disclosed contract with
As previously reported, the jackup
Information regarding Adjusted EBITDA is based on preliminary unaudited information and management estimates for the fiscal quarter ended
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 and its predecessors have been engaged in the contract drilling of oil and gas wells since 1921. Noble performs, through its subsidiaries, contract drilling services with a fleet of offshore drilling units focused largely on ultra-deepwater and high specification jackup drilling opportunities in both established and emerging regions worldwide. For further information visit www.noblecorp.com or email email@example.com.
The Company defines "Adjusted EBITDA" as income (loss) from continuing operations before income taxes; interest income and other, net; gain (loss) on extinguishment of debt, net; interest expense, net of amounts capitalized; loss on impairment; pre-petition charges; merger and integration costs; reorganization items, net; certain corporate legal matters; and depreciation and amortization expense. We believe the Company's Adjusted EBITDA measure provides greater transparency of our core operating performance. Because we have not completed the final preparation and audit of our financial statements for the fourth quarter, we are unable to present a quantitative reconciliation of Adjusted EBITDA to income (loss) from continuing operations before income taxes, the most directly comparable GAAP financial measure.
This announcement is for information purposes only and does not constitute or contain any invitation, solicitation, recommendation, offer or advice to any person to subscribe for or otherwise acquire or dispose of any securities of Noble.
Certain statements in this announcement, including statements concerning future guidance, year-end financial expectations, contract commencement dates and duration, rig deployments, and rig repair timing, are, and other statements in this announcement, including any attachments hereto, may constitute, forward-looking statements. Forward-looking statements are statements (other than statements of historical fact) relating to future events and Noble and its subsidiaries's (collectively, the "Noble Group") anticipated or planned financial and operational performance. The words "targets", "believes", "continues", "expects", "aims", "intends", "plans", "seeks", "will", "may", "might", "anticipates", "would", "could", "should", "estimates", "projects", "potentially" or similar expressions or the negatives thereof, identify certain of these forward-looking statements. The absence of these words, however, does not mean that the statements are not forward-looking. Other forward-looking statements can be identified in the context in which the statements are made.
Although Noble believes that the expectations reflected in these forward-looking statements are reasonable as of the date of this announcement, such forward-looking statements are based on Noble's current expectations, estimates, forecasts, assumptions and projections about the Noble Group's business and the industry in which the Noble Group operates and/or which has been extracted from publications, reports and other documents prepared by the Noble Group and are not guarantees of future performance or development and involve known and unknown risks, uncertainties and other important factors beyond the Noble Group's control that could cause the Noble Group's actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements.
Any forward-looking statements included in this announcement, including any attachment hereto, speak only as of today. Noble does not intend, and does not assume, any obligations to update any forward-looking statements contained herein, except as may be required by law or the rules of the
View original content:https://www.prnewswire.co.uk/news-releases/noble-corporation-plc-provides-operational-and-financial-update-and-updates-on-prior-guidance-for-adjusted-ebitda-for-the-fourth-quarter-of-2022-301727486.html