Printer Friendly

NOBLE DRILLING CONTINUES TO FOCUS OPERATIONS

 NOBLE DRILLING CONTINUES TO FOCUS OPERATIONS
 HOUSTON, Feb. 4 /PRNewswire/ -- Noble Drilling Corp.


(NASDAQ: NDCO) announced today that in order to concentrate efforts and resources on the company's core contract drilling business, Noble will be initiating steps to sell oil and gas properties, all of which are located in the United States and Canada. The company's exploration and production efforts are conducted by subsidiary companies Nexco Inc. in Oklahoma City and Mosswood Oil & Gas Ltd. in Calgary.
 "Through various equipment acquisitions over the past four years our contract drilling operations have expanded dramatically while the production segment has become less and less significant to the revenue base of the company," said President and Chief Executive Officer James C. Day. As of Dec. 31, the company had estimated net proved developed reserves of approximately 10.9 billion cubic feet of natural gas and 1,224,000 barrels of oil.
 The company's year-end financial results will include certain financial information relative to the discontinuance of the oil and gas exploration and production operations.
 Noble is a major drilling contractor with offshore and land operations in the United States, Canada, the United Kingdom, Africa, 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- 2/4/92
 /CONTACT: Byron L. Welliver of Noble Drilling Corp., 713-974-3131/
 (NDCO NDCOP) CO: Noble Drilling Oil Co. ST: Oklahoma IN: OIL SU:


JL -- SF006 -- 6667 02/04/92 12:00 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Feb 4, 1992
Words:257
Previous Article:DENISON MINES COMPLETES TRANSFER OF INTEREST IN VEGA OIL FIELD
Next Article:BAREFOOT INC. REPORTS HIGHER INCOME AND REVENUES FOR THIRD QUARTER AND NINE MONTHS
Topics:


Related Articles
NOBLE DRILLING OPERATIONS IN MID-CONTINENT AND ROCKY MOUNTAIN REGIONS TO CLOSE
NOBLE AFFILIATES COMPLETES CANADIAN HORIZONTAL WELL
NOBLE DRILLING REPORTS $.12 NET INCOME PER COMMON SHARE IN THIRD QUARTER 1993
ROBERTSON NAMED CORPORATE SECRETARY OF NOBLE DRILLING
NOBLE DRILLING CORPORATION AND CHILES OFFSHORE CORPORATION ANNOUNCE EXECUTION OF MERGER AGREEMENT
Noble Drilling Corporation Announces Agreement For Strategic Sale of Mat Supported Jackups
Noble Drilling Corporation Announces Stock Repurchase Program
First Energy Bank launches $3b offshore drilling firm.
Noble Energy Reports Natural Gas Discovery.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters