Noble Corporation PLC (NYSE:NE) Announces Acquisition of Gusto MSC CJ46 Design Jackup Rig


Noble Corporation PLC (NYSE:NE) has purchased an innovative Gusto MSC CJ46 design jackup rig from PaxOcean in a deal valued at $93.75 million. The company paid $33.75 million from its internal accruals and the balance from seller financing at an interest rate of 4.25%. Noble Corp is agreed to pay the financed sum in 4 years. The company also has a right to acquire the second CJ46 jack up rig from PaxOcean.

The first CJ46 design jackup, which is built at Batam, Indonesia based PaxOcean Graha shipyard, will be named as Noble Johnny Whitstine. The new rig can operate in well depths of up to 30,000 ft., and water depths of 375 ft. It also consists of 70 feet x 40 feet cantilever skidding system and two blow out preventers for enhanced drilling capabilities of the rig.

The company has bagged a 3-year drilling bid in the Middle East that will commence in early 2019. Chief Executive Officer and President of Noble Corp., Julie J. Robertson said the jack up rig fleet is fully committed in 2018 and expecting a further demand in 2019. The company is well poised to capitalize on the growth opportunities.

Contract Backlog at $2.5 billion

As on September 23, 2018, Noble Corp has a firm contract backlog of $2.5 billion. It is an accomplishment for the company. This is on the backdrop of efficient managing of the contract and owning of a strong jack up rigs. General Manager and Vice President of Noble Corp Robert W. Eifler said offshore industry drilling metric will improve through Q2 and is expected to contribute gains in the rest of 2018 and in 2019.  The jack up segment is witnessing a recovery.

Noble Corporation PLC Issues an Update on Fleet Contract

  • Drillship Noble Don Taylor has won an order from Talos for operation in the US Gulf of Mexico. The drilling operations will be commenced in November 2018 and continue till mid 2019.
  • Drillship Noble Globetrotter II has bagged an order from Total SA (NYSE:TOT) for operation in Bulgaria. The work will commence in November 2018 and ends in January 2019.