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NOBLE DRILLING OPERATIONS IN MID-CONTINENT AND ROCKY MOUNTAIN REGIONS TO CLOSE

 NOBLE DRILLING OPERATIONS IN MID-CONTINENT AND
 ROCKY MOUNTAIN REGIONS TO CLOSE
 HOUSTON, Feb. 3 /PRNewswire/ - Noble Drilling Corp. (NASDAQ: NDCO) announced today that it is closing its land drilling operations in the Mid-Continent and Rocky Mountain regions of the United States.
 Headquartered in Oklahoma City, these divisions are responsible for the management of 29 land rigs. This portion of the company's land fleet averaged
25 percent utilization for the year 1991. Nine of the 29 rigs are currently under contract and upon completion of the contract terms will be mothballed in centralized locations.
 Approximately 200 employees located in Oklahoma, Texas, Michigan, North Dakota, and Wyoming will be affected by the closing of these two divisions.
 The Gulf Coast Land Division operations concentrated in Texas and Louisiana are not affected by this action.
 James C. Day president and chief executive officer said, "The domestic drilling environment has been depressed for an extended period of time with no prospects for improvement in the near term. This is a continuation of our strategy to move the company's emphasis to offshore and international drilling."
 Day said, "Until our country develops a viable national energy policy, our reserve base will continue to decline and the domestic service sector will continue to contract."
 The company's year end financial results will include certain financial information relative to the closing of the two divisions.
 Noble Drilling Corp. is a major drilling contractor with offshore and land operations in the United States, Canada, the United Kingdom, Africa, South America, the Middle East and the Far East. The company's outstanding Common Stock and $2.25 Convertible Exchangeable Preferred Stock are traded in the NASDAQ/NMS under the symbols NDCO and NDCOP, respectively.
 -0- 2/3/92
 /CONTACT: Byron L. Welliver of Noble Drilling Corp., 713-974-3131/
 (NDCO) CO: Noble Drilling Corp. ST: Texas IN: OIL SU:


RM -- SF007 -- 6301 02/03/92 15:46 EST
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Publication:PR Newswire
Date:Feb 3, 1992
Words:314
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