SUGAR LAND, Texas, Nov. 3, 2021 /PRNewswire/ -- Noble
Corporation (NYSE: NE, "Noble", or the "Company") today announced
it has completed the sale of four jackup rigs to a subsidiary of
ADES International Holding Ltd. ("ADES"). The Company expects to
generate approximately $285 million
in cash from the transaction net of fees, expenses, and the
settlement of working capital. Ownership of the Noble Roger
Lewis, Noble Scott Marks,
Noble Joe Knight, and
Noble Johnny Whitstine as
well as employment of the crews has been transferred and the
drilling contracts have been novated to ADES. Noble will continue
to provide certain customary transition support services for a
limited period of time.
"We are very pleased to have completed this transaction, which
further bolsters our already strong balance sheet, is accretive to
our shareholders, and supports our sustainable return of capital
strategy." said Robert Eifler,
President and CEO of Noble Corporation. Mr. Eifler continued, "Our
crews in the Kingdom have delivered excellent safety and operating
performance for many years. I would personally like to thank the
Noble employees who will transfer to ADES for their professionalism
and dedicated service and wish them continued success."
About Noble Corporation
Noble is a leading offshore
drilling contractor for the oil and gas industry. The Company owns
and operates one of the most modern, versatile, and technically
advanced fleets in the offshore drilling industry. Noble and its
predecessors have been engaged in the contract drilling of oil and
gas wells since 1921. Currently, Noble performs, through its
subsidiaries, contract drilling services with a fleet of 20
offshore drilling units, consisting of 12 drillships and
semisubmersibles and 8 jackups, focused largely on ultra-deepwater
and high specification jackup drilling opportunities in both
established and emerging regions worldwide. Noble is an
exempted company incorporated in the Cayman Islands with limited liability with
registered office at P.O. BOX 309, Ugland House, S. Church Street,
Grand Cayman, KY1-1104.
For additional information, visit www.noblecorp.com or email
investors@noblecorp.com
Forward-looking Disclosure Statement
This communication includes "forward-looking statements" within
the meaning of Section 27A of the Securities Act and Section
21E of the Exchange Act. All statements other than statements of
historical facts included in this communication, including those
regarding the expected net proceeds from the transaction, the
impact of the transaction, strong balance sheet, accretion to our
shareholders and return of capital, are forward-looking
statements. When used in this report, or in the documents
incorporated by reference, the words "anticipate," "assume,"
"believe," "could," "estimate," "expect," "intend," "may," "might,"
"plan," "project," "should," "shall" and "will" and similar
expressions are intended to be among the statements that identify
forward-looking statements. Although we believe that the
expectations reflected in such forward-looking statements are
reasonable, we cannot assure you that such expectations will prove
to be correct. These forward-looking statements speak only as
of the date of this communication and we undertake no obligation to
revise or update any forward-looking statement for any reason,
except as required by law. We have identified factors,
including, but not limited to, uncertainties relating to our
emergence from bankruptcy, the ability to recognize the anticipated
benefits of acquisition or disposition transactions, the
effects of public health threats, pandemics and epidemics, such as
the recent and ongoing outbreak of COVID-19, and the adverse impact
thereof on our business, financial condition and results of
operations (including but not limited to our growth, operating
costs, supply chain, availability of labor, logistical
capabilities, customer demand for our services and industry demand
generally, our liquidity, the price of our securities and trading
markets with respect thereto, our ability to access capital
markets, and the global economy and financial markets generally),
the effects of actions by, or disputes among OPEC+ members with
respect to production levels or other matters related to the price
of oil, market conditions, factors affecting the level of activity
in the oil and gas industry, supply and demand of drilling rigs,
factors affecting the duration of contracts, the actual amount of
downtime, factors that reduce applicable dayrates, reset of
dayrates under the commercial enabling agreement with our client
for rigs operating in Guyana,
operating hazards and delays, risks associated with operations
outside the US, actions by regulatory authorities, credit rating
agencies, customers, joint venture partners, contractors, lenders
and other third parties, legislation and regulations affecting
drilling operations, compliance with regulatory requirements,
violations of anti-corruption laws, shipyard risk and timing,
delays in mobilization of rigs, hurricanes and other weather
conditions, and the future price of oil and gas, that could cause
actual plans or results to differ materially from those included in
any forward-looking statements. These factors include those
"Risk Factors" referenced or described in the Company's most recent
Form 10-K, Form 10-Q's, and other filings with the
Commission. We cannot control such risk factors and other
uncertainties, and in many cases, we cannot predict the risks and
uncertainties that could cause our actual results to differ
materially from those indicated by the forward-looking
statements. You should consider these risks and uncertainties
when you are evaluating us.
Investors and others should note that we may announce material
information using Securities and Exchange Commission filings, press
releases, public conference calls, webcasts, and the "Investor"
section of our website. In the future, we will continue to use
these channels to distribute material information about the company
and to communicate important information about the company, key
personnel, corporate initiatives, regulatory updates, and other
matters. Information that we post on our website could be deemed
material; therefore, we encourage investors, the media, our
customers, business partners and others interested in our company
to review the information we post on our website.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/noble-corporation-completes-sale-of-four-jackups-in-saudi-arabia-301416046.html
SOURCE Noble Corporation
