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Noble (NE) Issues Update On Alaska-Based Drillship Operations

 December 27, 2012 08:16 AM

Noble Corp. (NYSE: NE), an offshore drilling contractor, said it is working "cooperatively" and "diligently" to rectify deficiencies and maintenance issues raised by the U.S. Coast Guard during a recent inspection of its drillship, the Noble Discoverer.

The inspection followed a successful drilling season in offshore Alaska, the company noted. 

The company said the Coast Guard has identified several components and systems aboard its drillship for attention, including the ship's propulsion and safety management systems. 

Noble reported certain other potential regulatory non-compliance issues that it discovered relating to its operations, including possible unauthorized collected water discharges outside the period of drilling operations. 

[Related -Stocks Slip Amid Hopes For 'Cliff' Deal; J.C. Penney (JCP) Retreats]

In addition, the company said it is developing an enhanced plan designed to ensure its drilling rigs and their related management procedures are in compliance with applicable maritime laws and leading industry practices. 

Noble added that it continues to cooperate with the Coast Guard's ongoing review, as well as conducting its own investigation and a review of its marine management processes and procedures.

The stock, which has been trading in the 52-week range of $28.73 to $41.71, closed at $35.14 on Wednesday.

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