Noble Corporation Reports Fourth Quarter And Full Year 2020 Results
- Completed financial restructuring on February 5, 2021
- Achieved zero lost-time incidents during 2020 and set several company safety records during the year
- Contract backlog over $1.6 billion at the end of 2020
- Fourth quarter results include a non-cash, before-tax charge of $2.8 billion relating to the impairment of certain rigs and related capital spares
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SUGAR LAND, Texas, March 11, 2021 /PRNewswire/ Noble Corporation ( Noble or the Company ), as the successor entity for Noble Holding Corporation plc ( Legacy Noble ), today reported fourth quarter and full year 2020 results.
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Hess Reports Estimated Results for the Fourth Quarter of 2020
Fourth Quarter Financial and Operational Highlights:
Net loss was $97 million, or $0.32 per common share, compared with a net loss of $222 million, or $0.73 per common share in the fourth quarter of 2019
Adjusted net loss1 was $176 million, or $0.58 per common share, compared with an adjusted net loss of $180 million, or $0.60 per common share in the prior-year quarter
Completed the sale of the Corporation s 28% working interest in the Shenzi Field in the deepwater Gulf of Mexico for net proceeds of $482 million, after closing adjustments
Oil and gas net production, excluding Libya, averaged 309,000 barrels of oil equivalent per day (boepd), down from 316,000 boepd in the fourth quarter of 2019; Bakken net production was 189,000 boepd, up 9% from 174,000 boepd in the prior-year quarter