Noble Corp. (NE) shares have rallied together with other offshore drilling stocks on optimism about the economic recovery and the extension of current production cuts from OPEC+.
This is the "pre-bankruptcy rally" which will soon fade
Noble Corp.'s contracts have already suffered from the pandemic and there are no signs that the situation will get better anytime soon
Noble Corp. will be on path to run out of liquidity due to negative cash flow
Noble Corp. has already engaged with restructuring advisors. A company hires restructuring advisors when it sees no other method to deal with its debt load.
Noble Corp. needs to dramatically decrease its debt load and raise some additional liquidity.
This is the "pre-bankruptcy rally" which will soon fade
Noble Corp.'s contracts have already suffered from the pandemic and there are no signs that the situation will get better anytime soon
Noble Corp. will be on path to run out of liquidity due to negative cash flow
Noble Corp. has already engaged with restructuring advisors. A company hires restructuring advisors when it sees no other method to deal with its debt load.
Noble Corp. needs to dramatically decrease its debt load and raise some additional liquidity.