NE, Noble Drilling Message Board

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Gold/Mining/Energy : NE, Noble Drilling

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To: JBH who wrote (177)	1/29/1998 12:07:00 AM
From: Czechsinthemail	Read Replies (1) of 301

The average daily rig revenue earned in the first quarter of 1997 was approximately $29,000 while the average daily rig revenue for the first quarter 1998 should exceed $46,000, and by year-end should approach $60,000. Assuming a comparable utilization rate close to 100%, the increase in average daily rig revenue would suggest an increase in revenues of about 58-59%. This is very high compared with other drillers that have announced. SDC marine drilling average daily revenue increased +46%, EPS +81%. MDCO average daily revenue +55%, EPS +119%. ESV average daily revenue +58% and earnings up +139% Granted these are rough figures, but if NE has revenue growth around 58-59%, I think we'll see real kickbutt earnings. There may be some adjustments necessary around the last of the money-losing turnkey operation in the Bay of Campeche and some rigs being taken out of service. But overall, I think we should have a positive earnings surprise -- maybe a surprisingly big surprise. Other thoughts about this? Baird

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