Noble Inks $375 Million Deal to Divest Five Jackup Rigs

The rig divestment aims to address potential “issues related to lessening of competition created by the business combination” between Noble Corp. and Maersk Drilling initially announced last November.

Pietro Donatello Pitts, Hart Energy
Noble Inks $375 Million Deal to Divest Five Jackup Rigs - Hart Energy June 2022 - Noble Houston Colbert Jackup Rig

The asset purchase agreement with Shelf Drilling includes the Noble Hans Deul, Noble Sam Hartley, Noble Sam Turner, Noble Houston Colbert (pictured) and Noble Lloyd Noble rigs and all related support and infrastructure. (Source: Noble Corp.)

Noble Corp. entered into an asset purchase agreement to divest five jackup rigs for $375 million to a newly formed subsidiary of Shelf Drilling Ltd.

The rig divestment, subject to approval of the U.K. Competition and Markets Authority (CMA), aims to address potential “issues related to lessening of competition created by the business combination” between Noble and The Drilling Co. of 1972 A/S (Maersk Drilling) initially announced November 2021, Noble said in a June 23 press statement.

The closing of the business combination of Noble and Maersk Drilling is slated to occur near the end of the third quarter, according to Noble. The rig agreement could close promptly following such closing, the offshore drilling contractor added.

Already have an account? Log In

Subscribe now to get unmatched and complete coverage of the Energy industry’s entire landscape!

View our subscription options
  • Access to site wide content
  • Access to our proprietary databases
  • Watch exclusive videos with energy executives
  • Unlimited access to an extensive library of Playbooks, Techbooks, Yearbooks, supplements, and special reports
  • Newly Added! Access to Rextag's Energy Datalink, containing extensive GIS databases of energy assets, production records, processing capacities, physical locations, planned projects, acquisition records, and much more.
Create a free account or See Group Subscription options
Offshore

Recommended Reading