Chuck Davidson has been waiting since June to do what his company does in the Gulf of Mexico: drill.
And now, he and his company can. Noble Energy [NBL] is the first deepwater driller to get a permit approved since the disastrous BP spill. Noble got the word yesterday after the bell that it was the first to prove it can comply with new safety regulations put into place since the disaster.
Davidson joined us exclusively today to say that, while it'll cost more to comply, Noble is ready, willing and able. He's a rational guy and it sounds like he understands that, while costly, nothing could cost as much as another oil spill.
Gang, at a time when oil is spouting higher and higher due to the strife and angst in the Middle East, this is good news for Noble, which hit a 52-week high today. I want you to hear how Chuck and his company proceed with the new permit in place. Click on the clip below.