Noble Company plc (CSE: NOBLE, NYSE: NE) has finalized its $1.59 billion acquisition of Diamond Offshore Drilling, Inc., strengthening its place within the offshore drilling trade. The merger, introduced in June, creates the most important fleet of seventh era dual-BOP drillships and provides roughly $2 billion to Noble’s backlog.
Following the acquisition, Noble’s fleet now consists of 41 rigs, together with 28 floaters and 13 jackups, with a complete backlog of about $6.7 billion. The corporate has additionally appointed Patrice Douglas from Diamond’s board to function a brand new director of Noble.
“We’re excited to shut this extremely strategic and accretive transaction forward of schedule and start our integration actions,” mentioned Robert W. Eifler, President and CEO of Noble. “On behalf of Noble’s board of administrators and workers, I wish to welcome the Diamond group onboard and stay up for our thrilling journey forward as a mixed crew.”
Charles M. Sledge, Noble’s Chairman of the Board, added: “This mix marks a vital subsequent step in Noble’s 7G deepwater management technique. We’re excited to convey Diamond’s distinctive crew and fleet on to the Noble platform and stay up for delivering beneficial synergies for all stakeholders by means of the mixing of those two nice corporations.”
In gentle of the acquisition, Noble has suggested traders that its beforehand issued monetary steerage for 2024 is not relevant. The corporate has additionally revealed an up to date fleet standing report, which incorporates the addition of 4.8 rig years of backlog lately awarded below the Industrial Enabling Settlement with ExxonMobil for Noble’s 4 drillships working in Guyana. These updates have elevated Noble’s present backlog to $6.7 billion.
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