|Exchange:||New York Stock Exchange|
|Stock:||Noble Corporation PLC|
|Industry:||Oil & Gas Drilling|
|Noble Corporation PLC is a Swiss corporation. The Company is an offshore drilling contractor for the oil and gas industry. It performs contract drilling services with its fleet of 79 mobile offshore drilling units. The Company also owns one floating production storage and offloading unit. The fleet consists of 14 semisubmersibles, 14 dynamically positioned drillships, 49 jackups and two submersibles, including 11 units under construction as follows: five dynamically positioned, ultra-deepwater, harsh environment drillships, and six high-specification, heavy-duty, harsh environment jackups. The Company typically employs each drilling unit under an individual contract. The Company’s drilling contracts generally contain the following terms: contract duration extending over a specific period of time or a period necessary to drill one or more wells; provisions permitting early termination of the contract by the customer ; options to extend the contract term, generally upon advance notice to the Company and usually at mutually agreed upon rates; payment by the Company of the operating expenses of the drilling unit, including labor costs and the cost of incidental supplies and provisions that allow it to recover certain cost increases from certain of its customers. The Company conducts offshore contract drilling operations, which accounted for approximately 97 percent of operating revenues for the years ended December 31, 2012, 2011 and 2010, respectively. The Company conducts its contract drilling operations principally in the Middle East, India, U.S. Gulf of Mexico, Mexico, the North Sea, Brazil, and West Africa. The Company performs services under labor contracts for drilling and workover activities covering two rigs under a labor contract off the east coast of Canada. The offshore contract drilling industry is a competitive and cyclical business characterized by high capital and maintenance costs. It competes on a worldwide basis, but competition might vary by region at any particular time. Political developments and numerous governmental regulations, which might relate directly or indirectly to the contract drilling industry, affect many aspects of its operations.|
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