Maersk Drilling secures six-month extension for drillship with Shell

  Noble Corporation plc ("Topco") announced that the merger between Noble Corporation and Noble Newco Sub Limited ("Merger Sub") (an indirect subsidiary of Noble Corporation and a direct subsidiary of Topco) with Merger Sub continuing as the surviving entity (the "Cayman Merger"), has been successfully completed. As a result hereof, Noble Corporation has ceased to exist.   Further, it is expected that the Exchange Offer will close and that the admission to trading and official listing of Topco on Nasdaq Copenhagen A/S ("Nasdaq Copenhagen") will take place on 3 October 2022, thus effecting the closing of the Business Combination as a whole.   About Topco:   Topco is a public limited company formed under the laws of England and Wales and is an indirect, wholly owned subsidiary of Noble. To date, Topco does not own any material business assets or operate any business. Upon consummation of the business combination with Maersk Drilling, Topco will be listed on the New York Stock Exchange and Nasdaq Copenhagen A/S, and Topco will own the businesses of Noble, Maersk Drilling and their respective subsidiaries. For additional information on Topco, visit www.noblecorp.com.   Read More - Bloomberg   Source: Noble   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  Arabian Drilling Co., a Saudi Arabian oilfield-services company partly owned by Schlumberger NV, took only hours to garner enough investor orders to fully cover an initial public offering that could raise as much as 2.67 billion riyals ($710 million).   Books are covered across the price range, according to a message sent to investors and seen by Bloomberg News. Arabian Drilling set the range at 90 riyals to 100 riyals per share, valuing the company at as much as 8.9 billion riyals, according to a statement on Wednesday.   Investors snapping up all shares on offer shows demand for Saudi IPOs remains strong even after its stocks became the first in the Gulf to fall into a bear market this week, dragged lower by the recent plunge in oil prices.   Arabian Drilling’s IPO is the largest in the kingdom since pharmacy chain Nahdi Medical Co. raised $1.4 billion, and joins a steady flow of Gulf companies that are tapping markets amid high oil prices. There have already been 22 listings in Saudi Arabia this year, more than any other full-year total, data compiled by Bloomberg show.   Investor demand for listings in the Gulf has been strong, with the region emerging as a bright spot in a quiet IPO market globally. Still, the outlook is darkening with oil falling almost 40% since June on fears that a global economic slowdown caused by central banks’ aggressive policy tightening will hurt energy consumption.   Schlumberger and Industrialization & Energy Services Co., majority controlled by the Saudi wealth fund, the Public Investment Fund, will sell 17.7 million shares in the IPO. Arabian Drilling will sell 9 million shares, using the proceeds to scale up its onshore and offshore fleet and expand operations in the Gulf Cooperation Council region. It counts Saudi oil giant Aramco as one of its main customers, and is looking to capitalize on the state energy producer’s plans to boost oil and gas production.   The bookbuilding period for institutional investors will run to Oct. 5, with the final offer price announced on Oct. 11. HSBC Holdings Plc, Goldman Sachs Group Inc. and SNB Capital are bookrunners for the IPO.   Source: Bloomberg   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  TechnipFMC has been awarded a significant(1) engineering, procurement, construction and installation (EPCI) contract by Shell for the Jackdaw development, located in the United Kingdom North Sea.   The contract covers pipelay for a 30 km tieback from the new Jackdaw platform to Shell’s Shearwater platform, as well as an associated riser, spoolpieces, subsea structures, and umbilicals.   The tieback will use pipe-in-pipe technology, which is designed for high pressure, high temperature use.   Jonathan Landes, President, Subsea at TechnipFMC, commented:   'We’re excited to embark on this significant project together in the UK North Sea. Our strong technical record and our ability to design, engineer, construct and install were key to our success in winning this award.'   (1) For TechnipFMC, a 'significant' contract is between $75 million and $250 million.   Source: TechnipFMC   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here