More on Noble (NE): Q1 comes in mixed, beating on a per share basis but coming up just shy on the revenue side, despite a 22% rise in total sales. Net income also grew by 25% as revenue growth outpaced operating costs amid strong drilling activity. Operating expenses rose 13% to $741.2M as expenses associated with drilling services grew. Revenue from drilling services grew 24% to $928.7M. Contract backlog as of March 31 was $14B, down slightly from $14.3B at the end of the previous quarter.