HOUSTON, Feb. 3, 2025
/PRNewswire/ -- Noble Corporation plc ("Noble" or the
"Company") (NYSE: NE) today announces plans to divest the cold
stacked drillships Pacific Meltem and Pacific
Scirocco in order to eliminate costs related to these units and
prioritize resources on the existing marketed fleet. The
Company intends to divest these units in a manner which would
effectively retire them permanently from drilling operation,
including potentially scrapping the units.
Robert W. Eifler, President and
Chief Executive Officer of Noble Corporation plc, stated, "Our
decision to retire these non-contributing assets is based on a
continuous cost-benefit evaluation of idle capacity. These
retirements will be immediately cash flow accretive and result in a
leaner, fitter fleet composition for Noble going forward."
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. Noble
performs, through its subsidiaries, contract drilling services with
a fleet of offshore drilling units focused largely on
ultra-deepwater and high specification jackup drilling
opportunities in both established and emerging regions worldwide.
For further information visit www.noblecorp.com or email
investors@noblecorp.com.
Forward-Looking Statements
This announcement includes
"forward-looking statements" within the meaning of Section 27A of
the Securities Act and Section 21E of the Exchange Act, as amended.
All statements other than statements of historical facts included
in this announcement are forward looking statements, including
those regarding expectation for divestitures and their anticipated
impacts. Forward-looking statements involve risks, uncertainties
and assumptions, and actual results may differ materially from any
future results expressed or implied by such forward-looking
statements. When used in this announcement, or in the documents
incorporated by reference, the words "guidance," "anticipate,"
"believe," "continue," "could," "estimate," "expect," "intend,"
"may," "might," "on track," "plan," "possible," "potential,"
"predict," "project," "should," "would," "achieve," "shall,"
"target," "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 announcement and we
undertake no obligation to revise or update any forward-looking
statement for any reason, except as required by law. Risks and
uncertainties include, but are not limited to, those detailed in
Noble's most recent Annual Report on Form 10-K, Quarterly Reports
Form 10-Q and other filings with the U.S. Securities and Exchange
Commission, including, but not limited to, risks related to the
recently completed Diamond Transaction, including the risk that the
benefits of the transaction may not be fully realized or may take
longer to realize than expected. 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. With respect to our
capital allocation policy, distributions to shareholders in the
form of either dividends or share buybacks are subject to the Board
of Directors' assessment of factors such as business development,
growth strategy, current leverage and financing needs. There can be
no assurance that a dividend or buyback program will be declared or
continued.
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SOURCE Noble Corporation plc
