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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: Big Dog who wrote (148369)3/29/2011 7:26:45 AM
From: Dennis Roth1 Recommendation  Read Replies (1) of 206266
 
Noble Corp (NE)
Exercises Two High-Spec, Harsh-Environment Jackup Options
28 March 2011 ¦ 10 pages
citigroupgeo.com

Adjusting Estimates — Separately, NE lowered its 2011 guidance range on
interest expense net of capitalized interest to $30M-$40M from $50M-$60M. The
company also raised its 2011 capex guidance to $2.4B from $2.1B. Our 2011 EPS
estimate has been raised to $2.63 from $2.57 as a result.

Reiterate Buy on NE — A key question is whether contractors will take advantage
of attractive newbuild terms to retool their fleets with premium rigs. We expect
contractors like NE, who act now and concentrate on building assets with unique
capabilities, will capture a healthy share of the high-spec market's upside.

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FWIW

Schlumberger Ltd (SLB)
Model Update
28 March 2011 ¦ 7 pages
citigroupgeo.com
SLB provided guidance on 1Q11 seasonal impacts in 8-K filing.
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