Noble Corp. -1.5% after warning of slowdown in new contracts

|About: Noble Corporation plc (NE)|By:, SA News Editor

Noble Corp. (NE) -1.5% premarket after reporting a 36% increase in Q4 earnings, boosted by higher contract drilling service revenues, but warning of a slowdown in new contracts during H1 2014.

Contract drilling revenues rose thanks to higher dayrates and the contribution of three new ultra-deepwater drillships and the Noble Mick O'Brien jack-up, but CEO David Williams says the company finds itself “evaluating fewer floating rig contract opportunities today than we did a year ago."

NE saw an 84% utilization rate in Q4, ending the year with a contract backlog of ~$15.4B.