Rig contractor Noble Corporation posted a $1.3 billion loss in the last three months of 2016 due to an impairment charge of the same amount.
Noble said in its quarterly earnings report on Thursday that it recognised partial impairments for the semi-submersible rigs Noble Dave Beard, Noble Amos Runner and Noble Clyde Boudreaux.
It took full impairments for semisubs Noble Max Smith and Noble Homer Ferrington, both of which were previously cold-stacked and "have been retired from service".
