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One of the world's largest offshore drilling contractors, Noble hires out a young fleet of drillships, semisubmersibles, and jackup rigs on a daily rate to oil giants like ExxonMobil, BP, and Petrobras, drilling in deep water from the US Gulf to the North Sea. It grew out of an Oklahoma hardware store: oil struck on a farm the Noble brothers took as payment for a debt led their nephew Lloyd Noble to found the drilling business in 1921. In the early 1950s it became the first company to drill offshore using electricity sent from shore off the Louisiana coast.
Noble reports Q2 2026 net loss of $37 million, reduces full-year guidance
Adjusted EBITDA was $212 million, down from $282 million in Q2 2025 and $277 million in Q1 2026.
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Q2 2026 total revenue was $720 million, down from $849 million in Q2 2025 and $786 million in Q1 2026.
Net loss was $37 million, with diluted loss per share of ($0.23); adjusted diluted EPS was $0.01.
Full-year 2026 revenue guidance reduced to $2,800-$2,900 million and Adjusted EBITDA guidance to $850-$925 million; capex guidance unchanged at $615-$665 million.
Backlog stands at $6.8 billion; Q3 dividend of $0.50 per share declared.
2.02 Results of Operations and Financial Condition · 7.01 Regulation FD Disclosure · 9.01 Financial Statements and Exhibits
Noble Corporation plc subsidiary issues $800M of 6.250% Senior Notes due 2034
The notes are guaranteed on a senior unsecured basis by certain subsidiaries of the issuer and will be guaranteed by certain future subsidiaries that guarantee other indebtedness.
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On June 11, 2026, Noble Finance II LLC, a wholly owned subsidiary of Noble Corporation plc, issued $800,000,000 aggregate principal amount of 6.250% Senior Notes due 2034.
The notes mature on June 15, 2034, with interest payable semi-annually on June 15 and December 15, beginning December 15, 2026.
The issuer may redeem up to 40% of the notes before June 15, 2029, with net equity offering proceeds at 106.250% of principal, and may redeem at make-whole or scheduled prices thereafter.
Holders may require repurchase at 101% of principal upon a Change of Control Triggering Event, and the indenture includes customary covenants and events of default.
2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement · 9.01 Financial Statements and Exhibits
Noble Corporation plc announces $500 million senior notes offering due 2034 to redeem Diamond Notes
On May 29, 2026, Noble Finance II LLC entered into the Third Amendment to its senior secured revolving credit agreement, increasing commitments from $550.0 million to $650.0 million and extending maturity from April 18, 2028 to May 29, 2031.
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On June 1, 2026, Noble announced a private offering of $500 million aggregate principal amount of unsecured senior notes due 2034, guaranteed by certain restricted subsidiaries.
Net proceeds from the offering, together with cash on hand, will be used to redeem all outstanding 8.500% Senior Secured Second Lien Notes due 2030 issued by Diamond Foreign Asset Company and Diamond Finance, LLC.
The redemption is expected to be conditioned on the completion of the offering.
The notes are being offered only to qualified institutional buyers under Rule 144A and to persons outside the U.S. under Regulation S.
1.01 Entry into a Material Definitive Agreement · 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement · 8.01 Other Events · 9.01 Financial Statements and Exhibits
Noble prices upsized $800M 6.250% senior notes due 2034
Noble Corporation plc announced on June 1, 2026, that its subsidiary Noble Finance II LLC priced $800 million of 6.250% Senior Notes due 2034, upsized from $500 million.
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The notes were priced at par and the offering is expected to close on or about June 11, 2026, subject to customary closing conditions.
Net proceeds, together with cash on hand, will be used to redeem all outstanding 8.500% Senior Secured Second Lien Notes due 2030 issued by Diamond Foreign Asset Company and Diamond Finance, LLC, and $300 million of the Issuer's outstanding 8.000% Senior Notes due 2030.
The notes are being offered only to qualified institutional buyers under Rule 144A and to non-U.S. persons under Regulation S, and are not registered under the Securities Act.
The redemptions are conditioned on the completion of the offering, and the press release does not constitute a notice of redemption.
8.01 Other Events · 9.01 Financial Statements and Exhibits
Noble Corporation plc appoints Jeff Miller to its board of directors, effective May 21, 2026.
Jeff Miller is the Chairman, President, and CEO of Halliburton and was determined to be independent under NYSE rules.
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On May 21, 2026, Noble Corporation plc increased its board size to eight directors and appointed Jeff Miller to fill the resulting vacancy, effective immediately.
Miller's appointment was not made pursuant to any arrangement with another person, and he has no reportable transactions under Item 404(a) of Regulation S-K.
Miller will receive the same annual compensation as other non-employee directors for 2026, pro-rated from his appointment date.
The appointment was announced via a press release dated May 21, 2026, filed as Exhibit 99.1.
5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements · 9.01 Financial Statements and Exhibits
Noble Corporation plc held its 2026 annual general meeting on April 29, 2026, electing directors and approving all 15 resolutions.
Erik Bergöö was elected to the Board of Directors with 135,694,312 votes for, 54,883 against, and 115,334 abstentions.
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Patrice Douglas, Robert W. Eifler, Claus V. Hemmingsen, Alan J. Hirshberg, H. Keith Jennings, and Charles M. Sledge were re-elected to the Board of Directors for terms expiring at the 2027 annual general meeting.
Shareholders ratified the appointment of PricewaterhouseCoopers LLP as the independent registered public accounting firm for fiscal year 2026, with 133,395,653 votes for and 7,720,864 against.
The advisory vote on named executive officer compensation was approved with 127,864,638 votes for, 2,809,705 against, and 5,190,186 abstentions.
Resolutions authorizing the Board to allot shares and to allot shares without pre-emption rights were approved, with 114,921,876 and 114,320,989 votes for, respectively.
5.07 Submission of Matters to a Vote of Security Holders
Noble Corporation director Kristin Holth resigns, will not stand for re-election at 2026 Annual Meeting
Her decision did not involve any disagreement with the board, management, operations, policies, or practices.
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On March 12, 2026, Kristin Holth notified Noble Corporation plc's board of her resignation as Director, effective at the start of the 2026 Annual General Meeting.
Holth will not stand for re-election at the Annual Meeting.
The board thanked Holth for her service and noted her contributions to the company's strategic positioning.
5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements