Home   >   Archives   

Noble sells 5 jackups to Shelf ahead of Maersk merger

Rig Lynx
  • By Rig Lynx
  • Jun 29, 2022
  • Category : Archives
  • Views : 945


Noble Corporation announced that it has entered into an asset purchase agreement to sell five jackup rigs for $375 million to a newly formed subsidiary of Shelf Drilling, Ltd. whose obligations under the asset purchase agreement will be guaranteed by Shelf Drilling. The sale, which is subject to approval of the UK Competition and Markets Authority, is intended to address the potential concerns identified by the CMA in the Phase I review of the proposed business combination between Noble and Maersk Drilling.


The Remedy Rig Sale Agreement includes the rigs Noble Hans Deul, Noble Sam Hartley, Noble Sam Turner, Noble Houston Colbert, and Noble Lloyd Noble and all related support and infrastructure.  Associated offshore and onshore staff are expected to transfer with the Remedy Rigs.  Following the sale, Noble expects to continue to perform the current drilling program for the Noble Lloyd Noble under a bareboat charter arrangement with Shelf Drilling until the second quarter of 2023 when the primary term of its current drilling contract is expected to end.  The charter arrangement would pass the economic benefit of the drilling contract to Shelf Drilling.  Drilling contracts for other Remedy Rigs are expected to be novated to the Buyer, subject to the clients' consent. 


Noble will provide certain customary transition support services to the Buyer for a limited period of time.  The Buyer is expected to finance the acquisition through equity and debt financings by the Buyer and Shelf Drilling, but the purchase is not conditioned on such financing.  The Remedy Rig Sale is expected to close promptly following closing of the Business Combination (and following receipt of CMA approval).  Additional information related to our Remedy Rig Sale will be provided in an 8-K expected to be filed by the Company on June 23, 2022.

Source: Noble Drilling


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


Comments (1)

View Comments OR Add Comment

Leave Comment

Check out our other stories

Rig Lynx
Sep 02, 2022

  Namibian offshore oil and gas discoveries by TotalEnergies and Shell are of commercial quantities, likely in the billions of barrells, the southern African nation’s mines and energy minister said on Friday.   Both companies announced earlier this year that they had made “significant” discoveries offshore Namibia, and are currently making assessments.   The companies did not detail the quantities found but a source told Reuters that Total’s discovery was more than 1 billion barrels of oil equivalent.   The discoveries could make Namibia, the southern neighbour of OPEC member Angola, the latest oil producer along the African Atlantic coast.   “The companies are cautious, but have talked about commercial quantities in billions of barrels,” Namibia Mines and Energy Minister Tom Alweendo told Reuters on the sideline of an oil conference in Dakar, Senegal.   “The commerciality is there. They basically want to make sure that before they commit to production investment, they know what exact quantities are there,” Alweendo said.   He added that the firms are in the process of drilling their second and third wells, and by the end of the year they would have done the appraisals and have estimated figures.   The minister told the conference on Thursday that the companies could start production in four years.   “Both companies are keen to accelerate the process to production and have both mentioned that in four years, they should start producing. It is not something that we imposed, but it is something that we have discussed,” he said.   Source: Reuters   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  

Rig Lynx
Sep 02, 2022

  Allseas has been awarded a major decommissioning contract by TAQA UK for the removal and disposal of multiple Northern North Sea (NNS) facilities.   Aberdeen-based TAQA manages the UK North Sea exploration and production portfolio for UAE-headquartered utilities and energy group Abu Dhabi National Energy Company (TAQA). The engineering, preparation, removal, and disposal (EPRD) contract comprises TAQA’s Eider Alpha, Tern Alpha, North Cormorant and Cormorant Alpha platforms.   The combined weight of the topsides and jackets to be removed is around 114,000 tonnes, making this the largest single offshore UK Continental Shelf decommissioning contract scope to date.   Allseas’ task is to remove four platform topsides, three steel supporting jackets and transport to a suitable onshore yard facility for dismantling, with the aim of reusing or recycling 95% or more of the materials.   Single-lift removal of platforms   The platforms are located close to each other, approximately 100 kilometres north-east of Shetland, in water depths ranging from 150 to 167 metres.   All structures will be lifted and removed to shore as single units using Allseas’ heavy lift vessel Pioneering Spirit.   Allseas is proud to be TAQA’s contractor for this major decommissioning contract and looks forward to close collaboration with TAQA to prepare and execute the safe and sustainable decommissioning of these NNS assets.   Platform removals are planned post 2025.   Source: AllSeas   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  

Rig Lynx
Sep 02, 2022

  Eni has encountered oil with its Baleine East 1X well, the first exploration well in block CI-802 and second discovery on the Baleine structure offshore Côte d’Ivoire. The results have prompted a 25% increase in the oil and gas volumes in place, which are now estimated at 2.5 billion bbl of oil and 3.3 Tcf of associated gas.   The well was drilled in the block operated by Eni (90%), together with its partner Petroci Holding (10%), using the drillship Saipem 12000. The final depth reached was 3165 m measured depth, in a water depth of about 1150 m. Baleine East 1X is located about 5 km east of the Baleine 1X discovery well in the adjacent block CI-101 and represents the first commercial discovery in the CI?802 block, confirming the extension of the Baleine field.   The well confirmed the presence of a continuous oil column of about 48 m in reservoir rocks with good properties. From the vertical borehole, a horizontal drain of 850 m in length was subsequently drilled into the reservoir to perform a production test that confirmed potential production of at least 12,000 BOPD from the Baleine East 1X well.   Source: JPT   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