Noble Corporation today reported second quarter 2007 earnings of $290 million or $2.16 per diluted share versus $180 million or $1.30 for the second quarter of last year. Per-share earnings were up 66 percent from the second quarter of 2006 and up 16 percent from the $1.86 per share reported for the first quarter of 2007.
Results for the second quarter of 2007 include after-tax charges of $.08 per share related to the anticipated sale of the Company's downhole rotary steerable tool business, retirement of a senior executive, and costs associated with the ongoing independent investigation of the Company's Nigerian operations.
Contract drilling services revenues for the 2007 second quarter were $658 million, up 41 percent from the year-earlier quarter. Cash operating margins exceeded 67 percent, generating $362 million in net cash provided by operating activities.
