Noble Corp (NE) To Double Return To Investors

The board of Noble Corp. (NYSE: NE) has approved a return of capital to investors at twice the previous level, according to Reuters. This is in line with other players in the oilfields services business who wish to return anticipated cash flow to shareholders, now that the industry has stabilized.

Noble considers itself to be in a position to expand its fleet, and also capitalize on offshore drilling opportunities.If shareholders approve, the return will be done by a reduction of 0.52 Swiss francs in par value in four quarterly installments. Such a move would be exempt from Swiss withholding tax.

Swiss-based rival Transocean (NYSE: RIG) is also contemplating possible strategies for its cash flow in the coming years.