This 1 Move Could Change Noble Corp.'s Prospects Quickly in 2018

Perhaps the only thing more masochistic than reading income statements from offshore oil rig companies is having money invested in offshore oil drillers. The past three years have been brutal as oil and gas producers have scaled back spending or shifted spending to quicker, easier development projects like shale. For Noble Corporation (NYSE: NE), this past quarter was more of the same: modest declines in revenue and earnings.

However, its management thinks that we are about to see a shift in the offshore market, and it's making one subtle change to its fleet to prepare for an upswing. Here's a look at the most recent results and what Noble's doing to prepare for a market upturn.

Image source: Getty Images.

Source: Fool.com