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Exhibit 99.1

 

Noble Corporation plc

Devonshire House

1 Mayfair Place

London W1J 8AJ

England

      LOGO

 

 

PRESS RELEASE

NOBLE CORPORATION PLC REPORTS

THIRD QUARTER 2017 RESULTS

LONDON, November 2, 2017 – Noble Corporation plc (NYSE: NE, the Company) today reported a net loss attributable to the Company for the three months ended September 30, 2017 of $97 million, or $0.40 per diluted share, on revenues of $266 million. The results include a pre-tax charge to operating expenses totaling $14 million, or $0.04 per diluted share, relating to damage sustained by two of the Company’s cold-stacked semisubmersibles during Hurricane Harvey. Excluding the charge, the net loss attributable to Noble Corporation in the third quarter of 2017 would have been $87 million, or $0.36 per diluted share.

For the three months ended September 30, 2016, Noble Corporation reported a net loss attributable to the Company of $55 million, or $0.23 per diluted share, on revenues of $385 million.

A Non-GAAP supporting schedule is included with the statements and schedules attached to this press release and can also be found at www.noblecorp.com which provides a reconciliation for net income (loss), income tax and diluted earnings per share for the periods covered.

Commenting on results for the third quarter, David W. Williams, Chairman, President and Chief Executive Officer of Noble Corporation plc stated, “Our premium fleet continued to attract the attention of top tier customers around the world, as demonstrated by the more than $200 million of new contract awards in the quarter, further bolstering our excellent contract coverage. Also, we continued to generate positive free cash flow, despite the challenging industry environment, while maintaining our traditional high standards of operational performance.”

Contract drilling services revenues for the third quarter of 2017 totaled $260 million compared to $272 million in the preceding quarter of the year, which included a $6 million write-off of a derivative instrument relating to contingent customer payments. Fleet operating days in the third quarter declined six percent due primarily to the jackup rig fleet, which saw three rigs complete contracts during the quarter, in addition to downward dayrate adjustments and reduced bonus revenues. These items were partially offset by higher mobilization revenues and one additional calendar day in the quarter.

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Contract drilling services costs in the third quarter totaled $165 million, and included the $14 million charge relating to the rigs damaged during Hurricane Harvey. Excluding the charge, drilling services costs for the third quarter would have been $151 million. During the preceding quarter of 2017, contract drilling services costs were $162 million, which included a charge of $14 million relating to the write-off of a Pemex receivable. Excluding that charge, contract drilling services costs for the preceding quarter of 2017 would have been $148 million. The modest increase in contract drilling costs for the third quarter, when viewed on an adjusted basis, was largely due to the commencement of operations and higher mobilization expenses on the jackup Noble Tom Prosser following the rig’s relocation to Australia, partially offset by a reduction in idle rig costs.

Operating Highlights

Utilization in the third quarter of the Company’s 14 jackups was 81 percent compared to 93 percent in the preceding quarter, with the decline due primarily to fewer operating days for the Noble Regina Allen, Noble Houston Colbert and Noble Mick O’Brien, as all three units completed contracts over the quarter. The decline in operating days was partially offset by the Noble Tom Prosser, which in September commenced a contract offshore Australia following an idle period. The contract for the Noble Tom Prosser contributed to an increase in average daily revenues in the third quarter to $127,200 compared to $121,300 in the preceding quarter. Following the close of the third quarter, the Noble Houston Colbert was awarded a three-well, estimated one-year contract for work offshore Qatar. The contract, which is expected to commence in February 2018, increases to 13 the number of jackups currently under contract in the Noble fleet, with five units expected to complete contracts during the fourth quarter of 2017.

The Company’s floating rig fleet, comprised of eight drillships and six semisubmersibles, reported utilization in the third quarter of 39 percent compared to 37 percent in the preceding quarter of the year. The slight improvement was due to an increase in operating days on the drillship Noble Bob Douglas. Average daily revenues for the third quarter were $253,300 compared to $273,700 in the preceding quarter. The decline followed lower revenues on the drillship Noble Globetrotter I, partially offset by higher average revenues on the Noble Globetrotter II and Noble Don Taylor. At the close of the third quarter, five of the Company’s eight drillships were under contract, including the Noble Bob Douglas, which in July was awarded a three-year primary term contract for work offshore Guyana, with an expected contract commencement date of first or second quarter of 2018. Also, following the close of the third quarter, the rig was awarded an estimated 80-day drilling assignment in the U.S. Gulf of Mexico,

 

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with an expected contract commencement in late November 2017. With this latest award, the Noble Bob Douglas, which in late-October completed a drilling assignment offshore Suriname, is now expected to remain under contract into early-2021.

The Company’s contract backlog, which totaled approximately $3.2 billion at September 30, 2017, has remained essentially flat throughout 2017 following the addition of more than $800 million in contracts through the third quarter. Of the $3.2 billion total, which extends beyond 2022, an estimated $2.0 billion relates to the floating rig fleet, with $1.2 billion associated with the jackup fleet. Approximately 54 percent of the available rig operating days remaining in 2017 are committed to contracts, including 36 percent for the floating rig fleet and 73 percent for the jackup fleet. For 2018, 40 percent of available operating days are committed to contracts, including 34 percent and 46 percent of the floating and jackup rig days, respectively.

Outlook

Addressing the outlook for the offshore industry, Williams stated, “We believe our industry continues to demonstrate that the early stages of recovery have begun. Discussions with customers about their future rig needs have intensified throughout the year and have resulted in contract awards across numerous regions. As we sharpen our focus on 2018, we expect these early signs of recovery to yield measurable benefits to Noble. Our current contract backlog of $3.2 billion is expected to provide revenues in 2018 that exceed $860 million, with revenues of over $700 million in 2019, and these estimates exclude contract awards since the conclusion of the third quarter and any future awards. Also, our current expectation for 2018 is to generate positive free cash flow, as we have demonstrated in 2017.

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 performs, through its subsidiaries, contract drilling services with a fleet of 28 offshore drilling units, consisting of 14 drillships and semisubmersibles and 14 jackups, focused largely on ultra-deepwater and high-specification jackup drilling opportunities in both established and emerging regions worldwide. Noble is a public limited company registered in England and Wales with company number 08354954 and registered office at Devonshire House, 1 Mayfair Place, London, W1J 8AJ England. Additional information on Noble is available at www.noblecorp.com.

 

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Forward-looking Disclosure Statement

Statements regarding contract backlog, future earnings, costs, expense management, revenue, rig demand, fleet condition, operational or financial performance, shareholder value, contract commitments, dayrates, contract commencements, contract extensions, renewals or renegotiations, letters of intent or award, industry fundamentals, customer relationships and requirements, strategic initiatives, future performance, growth opportunities, the offshore drilling market, market outlook, capital allocation strategies, our financial position, business strategy, taxes and tax rates, liquidity, competitive position, capital expenditures, financial flexibility, debt levels, debt repayment, the outcome of any dispute, litigation, audit or investigation, as well as any other statements that are not historical facts in this release, are forward-looking statements that involve certain risks, uncertainties and assumptions. These include but are not limited to operating hazards and delays, risks associated with operations outside of the U.S., actions or claims by regulatory authorities, customers and other third parties, legislation and regulations affecting drilling operations, compliance with regulatory requirements, factors affecting the level of activity in the oil and gas industry, supply and demand of drilling rigs, factors affecting the duration of contracts, the actual amount of downtime, factors that reduce applicable dayrates, violations of anti-corruption laws, hurricanes and other weather conditions, market conditions, the future price of oil and gas and other factors detailed in the Company’s most recent Form 10-K, Form 10-Q’s and other filings with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated.

Conference Call

Noble also has scheduled a conference call and webcast related to its third quarter 2017 results on Friday, November 3, 2017, at 8:00 a.m. U.S. Central Daylight Time. Interested parties are invited to listen to the call by dialing 1-877-201-0168, or internationally 1-647-788-4901, using access code: 21884040, or by asking for the Noble Corporation plc conference call. Interested parties may also listen over the Internet through a link posted in the Investor Relations section of the Company’s Website.

 

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A replay of the conference call will be available on Friday, November 3, 2017, beginning at 11:00 a.m. U.S. Central Daylight Time, through Sunday, December 3, 2017, ending at 11:00 p.m. U.S. Central Standard Time. The phone number for the conference call replay is 1-855-859-2056 or, for calls from outside of the U.S., 1-404-537-3406, using access code: 21884040. The replay will also be available on the Company’s Website following the end of the live call.

11/2/2017

For additional information, contact:

Jeffrey L. Chastain,

Vice President – Investor Relations and Corporate Communications,

Noble Drilling Services Inc., 281-276-6383, or at jlchastain@noblecorp.com

 

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NOBLE CORPORATION PLC AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except per share amounts)

(Unaudited)

 

     Three Months Ended
September 30,
    Nine Months Ended
September 30,
 
     2017     2016     2017     2016  

Operating revenues

        

Contract drilling services

   $ 259,740     $ 373,257     $ 885,931     $ 1,841,321  

Reimbursables and other

     6,472       11,896       21,399       50,588  
  

 

 

   

 

 

   

 

 

   

 

 

 
     266,212       385,153       907,330       1,891,909  
  

 

 

   

 

 

   

 

 

   

 

 

 

Operating costs and expenses

        

Contract drilling services

     165,028       207,204       487,784       702,628  

Reimbursables

     3,834       9,142       13,374       39,446  

Depreciation and amortization

     137,607       155,242       409,919       455,907  

General and administrative

     15,331       15,773       49,869       54,346  

Loss on impairment

     —         —         —         16,616  
  

 

 

   

 

 

   

 

 

   

 

 

 
     321,800       387,361       960,946       1,268,943  
  

 

 

   

 

 

   

 

 

   

 

 

 

Operating income (loss)

     (55,588     (2,208     (53,616     622,966  

Other income (expense)

        

Interest expense, net of amount capitalized

     (72,887     (52,569     (219,543     (166,975

Gain on extinguishment of debt, net

     —         —         —         11,066  

Interest income and other, net

     389       540       4,286       (1,443
  

 

 

   

 

 

   

 

 

   

 

 

 

Income (loss) from continuing operations before income taxes

     (128,086     (54,237     (268,873     465,614  

Income tax benefit (provision)

     28,605       10,002       (210,589     (40,317
  

 

 

   

 

 

   

 

 

   

 

 

 

Net income (loss) from continuing operations

     (99,481     (44,235     (479,462     425,297  

Net loss from discontinued operations, net of tax

     —         —         (1,486     —    
  

 

 

   

 

 

   

 

 

   

 

 

 

Net income (loss)

     (99,481     (44,235     (480,948     425,297  

Net (income) loss attributable to noncontrolling interests

     2,689       (10,846     (10,888     (52,027
  

 

 

   

 

 

   

 

 

   

 

 

 

Net income (loss) attributable to Noble Corporation plc

   $ (96,792   $ (55,081   $ (491,836   $ 373,270  
  

 

 

   

 

 

   

 

 

   

 

 

 

Net income (loss) attributable to Noble Corporation plc

        

Income (loss) from continuing operations

   $ (96,792   $ (55,081   $ (490,350   $ 373,270  

Net loss from discontinued operations, net of tax

     —         —         (1,486     —    
  

 

 

   

 

 

   

 

 

   

 

 

 

Net income (loss) attributable to Noble Corporation plc

   $ (96,792   $ (55,081   $ (491,836   $ 373,270  
  

 

 

   

 

 

   

 

 

   

 

 

 

Per share data:

        

Basic:

        

Income (loss) from continuing operations

   $ (0.40   $ (0.23   $ (2.00   $ 1.48  

Loss from discontinued operations

     —         —         (0.01     —    
  

 

 

   

 

 

   

 

 

   

 

 

 

Net income (loss) attributable to Noble Corporation

   $ (0.40   $ (0.23   $ (2.01   $ 1.48  
  

 

 

   

 

 

   

 

 

   

 

 

 

Diluted:

        

Income (loss) from continuing operations

   $ (0.40   $ (0.23   $ (2.00   $ 1.48  

Loss from discontinued operations

     —         —         (0.01     —    
  

 

 

   

 

 

   

 

 

   

 

 

 

Net income (loss) attributable to Noble Corporation

   $ (0.40   $ (0.23   $ (2.01   $ 1.48  
  

 

 

   

 

 

   

 

 

   

 

 

 

 

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NOBLE CORPORATION PLC AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands)

(Unaudited)

 

     September 30,
2017
    December 31,
2016
 

ASSETS

    

Current assets

    

Cash and cash equivalents

   $ 608,763     $ 725,722  

Accounts receivable, net

     202,533       319,152  

Prepaid expenses and other current assets

     129,993       147,740  
  

 

 

   

 

 

 

Total current assets

     941,289       1,192,614  
  

 

 

   

 

 

 

Property and equipment, at cost

     12,421,765       12,364,888  

Accumulated depreciation

     (2,709,498     (2,302,940
  

 

 

   

 

 

 

Property and equipment, net

     9,712,267       10,061,948  
  

 

 

   

 

 

 

Other assets

     244,663       185,555  
  

 

 

   

 

 

 

Total assets

   $ 10,898,219     $ 11,440,117  
  

 

 

   

 

 

 

LIABILITIES AND EQUITY

    

Current liabilities

    

Current maturities of long-term debt

   $ 249,652     $ 299,882  

Accounts payable

     83,986       108,224  

Accrued payroll and related costs

     46,844       48,383  

Other current liabilities

     214,779       176,804  
  

 

 

   

 

 

 

Total current liabilities

     595,261       633,293  
  

 

 

   

 

 

 

Long-term debt

     3,795,327       4,040,229  

Other liabilities

     542,774       299,150  
  

 

 

   

 

 

 

Total liabilities

     4,933,362       4,972,672  
  

 

 

   

 

 

 

Commitments and contingencies

    

Equity

    

Total shareholders’ equity

     5,286,962       5,758,681  

Noncontrolling interests

     677,895       708,764  
  

 

 

   

 

 

 

Total equity

     5,964,857       6,467,445  
  

 

 

   

 

 

 

Total liabilities and equity

   $ 10,898,219     $ 11,440,117  
  

 

 

   

 

 

 

 

 

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NOBLE CORPORATION PLC AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

(Unaudited)

 

     Nine Months Ended  
     September 30,  
     2017     2016  

Cash flows from operating activities

    

Net income (loss)

   $ (480,948   $ 425,297  

Adjustments to reconcile net income to net cash flow from operating activities:

    

Depreciation and amortization

     409,919       455,907  

Other long-term asset write-off

     28,689       —    

Loss on impairment

     —         16,616  

Gain on extinguishment of debt, net

     —         (11,066

Net change in operating activities

     341,420       73,614  
  

 

 

   

 

 

 

Net cash provided by operating activities

     299,080       960,368  
  

 

 

   

 

 

 

Cash flows from investing activities

    

New construction

     —         (431,031

Capital expenditures

     (74,363     (145,069

Change in accrued capital expenditures

     (12,337     (41,235

Capitalized interest

     —         (15,938

Net change in investing activities

     1,306       23,390  
  

 

 

   

 

 

 

Net cash used in investing activities

     (85,394     (609,883
  

 

 

   

 

 

 

Cash flows from financing activities

    

Repayments of debt

     (300,000     (322,207

Debt issuance costs on senior notes and credit facility

     (42     —    

Premiums paid on early repayment of long-term debt

     —         (1,781

Dividend payments

     —         (47,534

Dividends paid to noncontrolling interests

     (26,293     (61,980

Employee stock transactions

     (4,310     (3,176
  

 

 

   

 

 

 

Net cash used in financing activities

     (330,645     (436,678
  

 

 

   

 

 

 

Net decrease in cash and cash equivalents

     (116,959     (86,193

Cash and cash equivalents, beginning of period

     725,722       512,245  
  

 

 

   

 

 

 

Cash and cash equivalents, end of period

   $ 608,763     $ 426,052  
  

 

 

   

 

 

 

 

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NOBLE CORPORATION PLC AND SUBSIDIARIES

FINANCIAL AND OPERATIONAL INFORMATION BY SEGMENT

(In thousands, except operating statistics)

(Unaudited)

 

     Three Months Ended September 30,     Three Months Ended June 30,  
     2017     2016     2017  
     Contract
Drilling
Services
    Other     Total     Contract
Drilling
Services
    Other     Total     Contract
Drilling
Services
    Other     Total  
Operating revenues                   

Contract drilling services

   $ 259,740     $ —       $ 259,740     $ 373,257     $ —       $ 373,257     $ 271,532     $ —       $ 271,532  

Reimbursables and other

     6,472       —         6,472       11,896       —         11,896       6,610       —         6,610  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 
   $ 266,212     $ —       $ 266,212     $ 385,153     $ —       $ 385,153     $ 278,142     $ —       $ 278,142  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 
Operating costs and expenses                   

Contract drilling services

   $ 165,028     $ —       $ 165,028     $ 207,204     $ —       $ 207,204     $ 162,371     $ —       $ 162,371  

Reimbursables

     3,834       —         3,834       9,142       —         9,142       4,394       —         4,394  

Depreciation and amortization

     131,819       5,788       137,607       149,398       5,844       155,242       130,763       5,831       136,594  

General and administrative

     15,331       —         15,331       15,773       —         15,773       18,658       —         18,658  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 
   $ 316,012     $ 5,788     $ 321,800     $ 381,517     $ 5,844     $ 387,361     $ 316,186     $ 5,831     $ 322,017  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 
Operating income (loss)    $ (49,800   $ (5,788   $ (55,588   $ 3,636     $ (5,844   $ (2,208   $ (38,044   $ (5,831   $ (43,875
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 
Operating statistics                   

Jackups:

                  

Average Rig Utilization

     81         80         93    

Operating Days

     1,043           954           1,183      

Average Dayrate

   $ 127,163         $ 109,387         $ 121,284      

Semisubmersibles:

                  

Average Rig Utilization

     17         13         17    

Operating Days

     92           92           91      

Average Dayrate

   $ 104,028         $ 293,269         $ 126,106      

Drillships:

                  

Average Rig Utilization

     56         70         52    

Operating Days

     410           517           377      

Average Dayrate

   $ 286,819         $ 467,949         $ 309,313      

Total:

                  

Average Rig Utilization

     60         59         65    

Operating Days

     1,545           1,563           1,651      

Average Dayrate

   $ 168,127         $ 238,869         $ 164,475      

 

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NOBLE CORPORATION PLC AND SUBSIDIARIES

CALCULATION OF BASIC AND DILUTED NET INCOME PER SHARE

(In thousands, except per share amounts)

(Unaudited)

The following table presents the computation of basic and diluted net income per share:

 

     Three Months Ended
September 30,
    Nine Months Ended
September 30,
 
     2017     2016     2017     2016  

Numerator:

        

Basic

        

Net income (loss) attributable to Noble -UK

   $ (96,792   $ (55,081   $ (491,836   $ 373,270  

Net loss from discontinued operations, net of tax

     —         —         1,486       —    

Earnings allocated to unvested share-based payment awards (1)

     —         —         —         (12,754
  

 

 

   

 

 

   

 

 

   

 

 

 

Net income (loss) from continuing operations to common shareholders - basic

   $ (96,792   $ (55,081   $ (490,350   $ 360,516  
  

 

 

   

 

 

   

 

 

   

 

 

 

Diluted

        

Net income (loss) attributable to Noble -UK

   $ (96,792   $ (55,081   $ (491,836   $ 373,270  

Net loss from discontinued operations, net of tax

     —         —         1,486       —    
  

 

 

   

 

 

   

 

 

   

 

 

 

Net income (loss) from continuing operations to common shareholders - diluted

   $ (96,792   $ (55,081   $ (490,350   $ 373,270  
  

 

 

   

 

 

   

 

 

   

 

 

 

Denominator:

        

Weighted average shares outstanding - basic

     244,940       243,224       244,666       243,089  

Incremental shares issuable from assumed exercise of stock options and unvested share-based payment awards outstanding

     —         —         —         8,600  
  

 

 

   

 

 

   

 

 

   

 

 

 

Weighted average shares outstanding - diluted

     244,940       243,224       244,666       251,689  
  

 

 

   

 

 

   

 

 

   

 

 

 

Earnings (loss) per share

        

Basic:

        

Continuing operations

   $ (0.40   $ (0.23   $ (2.00   $ 1.48  

Discontinued operations

     —         —         (0.01     —    
  

 

 

   

 

 

   

 

 

   

 

 

 

Net income (loss) to Noble Corporation plc

   $ (0.40   $ (0.23   $ (2.01   $ 1.48  
  

 

 

   

 

 

   

 

 

   

 

 

 

Diluted:

        

Continuing operations

   $ (0.40   $ (0.23   $ (2.00   $ 1.48  

Discontinued operations

     —         —         (0.01     —    
  

 

 

   

 

 

   

 

 

   

 

 

 

Net income (loss) to Noble Corporation plc

   $ (0.40   $ (0.23   $ (2.01   $ 1.48  
  

 

 

   

 

 

   

 

 

   

 

 

 

 

(1)  For the quarters ended September 30, 2017 and 2016, we experienced net losses from continuing operations, as well as the year ended September 30, 2017. As such, unvested share-based payment awards were excluded from the loss per share calculation during these periods, as the awards were anti-dilutive.

 

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Non-GAAP Reconciliation

Certain non-GAAP performance measures and corresponding reconciliations to GAAP financial measures for the Company have been provided for meaningful comparisons between current results and prior operating periods. Generally, a non-GAAP financial measure is a numerical measure of a company’s performance, financial position, or cash flows that excludes or includes amounts that are not normally included or excluded in the most directly comparable measure calculated and presented in accordance with generally accepted accounting principles. In order to fully assess the financial operating results, management believes that the results of operations, adjusted to exclude the following items, which are included in the Company’s press release issued on November 2, 2017, and discussed in the related conference call on November 3, 2017, are appropriate measures of the continuing and normal operations of the Company:

(i) In the second and third quarter of 2017, a discrete tax item;

(ii) In the second quarter of 2017, the Noble Max Smith write-off of receivables; and

(iii) In the third quarter of 2017, the Noble Danny Adkins and Noble Jim Day related cost damage.

These non-GAAP adjusted measures should be considered in addition to, and not as a substitute for, or superior to, contract drilling revenue, contract drilling cost, contract drilling margin, average daily revenue, operating income, cash flows from operations, or other measures of financial performance prepared in accordance with GAAP. Please see the following Non-GAAP Financial Measures and Reconciliations for a complete description of the adjustments.

 

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NOBLE CORPORATION PLC AND SUBSIDIARIES

NON-GAAP MEASURES

(In thousands, except per share amounts)

(Unaudited)

 

Reconciliation of Income tax provision    Three Months Ended,
September 30,
    Three Months Ended
June 30,
 
     2017     2016     2017  

Income tax provision

   $ 28,605     $ 10,002     $ 18,213  

Adjustments

      

Noble Danny Adkins and Noble Jim Day rig damages

     (4,845     —         —    
  

 

 

   

 

 

   

 

 

 

Total Adjustments

     (4,845     —         —    
  

 

 

   

 

 

   

 

 

 

Adjusted income tax provision

   $ 23,760     $ 10,002     $ 18,213  
  

 

 

   

 

 

   

 

 

 
Reconciliation of net loss attributable to Noble Corporation plc    Three Months Ended,
September 30,
    Three Months Ended
June 30,
 
     2017     2016     2017  

Net loss attributable to Noble Corporation plc

   $ (96,792   $ (55,081   $ (93,350

Adjustments

      

Noble Danny Adkins and Noble Jim Day rig damages

     9,425       —         —    

Noble Max Smith write-off of receivables

     —         —         14,419  
  

 

 

   

 

 

   

 

 

 

Total Adjustments

     9,425       —         14,419  
  

 

 

   

 

 

   

 

 

 

Adjusted net loss attributable to Noble Corporation plc

   $ (87,367   $ (55,081   $ (78,931
  

 

 

   

 

 

   

 

 

 
Reconciliation of diluted EPS attributable to continuing operations    Three Months Ended,
September 30,
    Three Months Ended
June 30,
 
     2017     2016     2017  

Unadjusted diluted EPS

   $ (0.40   $ (0.23   $ (0.38

Adjustments

      

Noble Danny Adkins and Noble Jim Day rig damages

     0.04       —         —    

Noble Max Smith write-off of receivables

     —         —         0.06  
  

 

 

   

 

 

   

 

 

 

Total Adjustments

     0.04       —         0.06  
  

 

 

   

 

 

   

 

 

 

Adjusted diluted EPS

   $ (0.36   $ (0.23   $ (0.32
  

 

 

   

 

 

   

 

 

 

 

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