Drilling contractor Noble Corp. has posted a 60-percent earnings increase over the year-ago period and upped shareholder value 66 percent despite $342 million spent on major equipment orders.

Contract drilling earned revenues of $658 million in the quarter, up 41 percent from the year-earlier quarter. While the Mexican market paid jack-ups up to $186,000 in day rates, in the North Sea, the Noble Piet van Ede and Noble Ronald Hoope are contracted to mid-2008 at a dayrate of $205,000.

Semi-submersible Noble Max Smith has earned a three-year contract at a dayrate with PEMEX of $484,000, and a seven-month Chevron deal off Brazil will pay the Noble Leo Segerius $525,000 a day.