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May 21, 2014
09:31 EDTNENoble Corp. sees Paragon Offshore spin-off to pay dividends
Noble (NE) says its proposed transaction will create a new publicly traded entity, Paragon Offshore, comprising a majority of Noble’s “Standard Specification” fleet, while Noble's high-specification assets will remain with the parent. Noble expects Paragon Offshore to have 34 jackups and 8 floaters with a strong backlog. Noble sees Paragon to pay dividends. The company added that it expects the spin-off, to be done as a dividend of 100% of shares, to be a Q3 event. Information in slides for presentation at Citi's Global Energy and Utilities conference.
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July 15, 2014
10:00 EDTNEOn The Fly: Analyst Upgrade Summary
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06:41 EDTNENoble Corp. upgraded to Market Perform from Underperform at BMO Capital
BMO upgraded the offshore drillers to Market Perform from Underperform citing valuation, reduced expectations, and a slow resumption in activity. Price target remains $33.
July 11, 2014
16:38 EDTNENoble Corp. board approves spin-off of Paragon Offshore
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