Noble Energy announced the sale of its North Sea platform drilling business to the Norwegian oilfield services group Seadrill for $35 million. The sale covers contracts including 11 platform operations in the North Sea. Noble expects the deal to free capital and resources to concentrate on the firm's core operations.
The Standard & Poor's 1500 Oil & Gas Drilling sub-industry index has witnessed improvements in its rolling 12-month price performance over the last few weeks. S&P says there is further potential for price appreciation in the index due to the group’s relative strength and favorable fundamentals. S&P's top pick in the group is Noble (NE), which is ranked 5-STARS i.e. strong buy.
2-for-1 stock split
