I wouldn't be surprised one bit. Think about that PR put out in early October. Why would you send out a PR that says you will cold stack a rig that has 9 more months of employment? One reason would be to drive the PPS down ahead of a transaction, if that transaction was going to be with a related party...
Small beat on revenues, met on eps expected loss
Big news was Seph taking over the helm. The street will respond positively IMO.
Slightly disappointing that average revenue per device dipped, after rebounding last Q. Especially given claims on the call that unproductive accounts had been culled, explaining the dip in number of active accounts.
Nevertheless, better than last Q3's seasonally blah numbers.
GLTA, shouldn't go lower, may move higher on CEO news.
Cash burn should slow moving forward based on comments during the call.
Analysts seemed overall positive on the quarter, not sure why.
From Noble Energy's press release today:
The rig which drilled the Humpback well [Eirik Raude] will be released to another operator before returning to Noble Energy to spud the Rhea prospect in late 2015 or early 2016.
The fleet status currently shows the rig's contract in the Falklands ending in November 2015. The Noble release seems to indicate 2 more contracts....