Noble Corporation Sells Six Jackups for $424 Million
Reuters
Dec 09
Noble Corporation Sells Six Jackups for $424 Million
Noble Corporation plc has signed definitive agreements to sell six jackup rigs. Five of the rigs-Noble Tom Prosser, Noble Mick O'Brien, Noble Regina Allen, Noble Resilient, and Noble Resolute-will be sold to Borr Drilling Limited for a total consideration of $360 million, comprised of $210 million in cash and $150 million in seller notes. The seller notes are expected to have a six-year maturity and be secured by a first lien on three of the rigs. Additionally, Noble will operate the Noble Mick O'Brien and Noble Resolute under a bareboat charter agreement with Borr for one year following the signing. The sixth rig, Noble Resolve, will be sold to Ocean Oilfield Drilling for $64 million in cash, with closing expected in the second quarter of 2026 after the conclusion of its current contract. Completion of the transactions is subject to customary closing conditions and, in the case of the Borr transaction, successful financing by Borr.
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