Noble CFO calls it quits

UK-based drilling contractor Noble Corporation announced on Monday that James A. MacLennan, senior vice president, chief financial officer and treasurer resigned effective February 26, 2016.

The company stated that Dennis L. Lubojacky, vice president and controller, would serve as interim chief financial officer until a permanent replacement can be found.

David W. Williams, chairman, president and chief executive officer of Noble Corporation, said: “James has helped Noble position itself so that it can navigate the challenges facing the industry, and we wish him the best of luck in his future endeavors.”

The company further said that it was in the process of searching for a new CFO.

Noble’s fleet of drilling rigs was recently reduced to 30 units after retiring two drilling rigs.

The offshore driller in early February posted a fourth quarter 2015 net loss attributable to Noble Corporation of $152 million, on revenues of $858 million, compared to the net loss of $609 million in the fourth quarter of 2014.

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