S.D Standard Drilling Plc has purchased 500,000 shares, corresponding to 1% ownership, in Noble at USD 18.5 per share.
Noble completed its restructuring- and Chapter 11 process on 5 February 2021.
Having disposed five cold stacked rigs in the fourth quarter, Noble enters 2021 with 19 offshore drilling units, consisting of 7 drill ships and semisubmersibles and 12 jackups. Noble are focusing largely on ultra- deepwater and high specification jackup drilling opportunities. After the restructuring Noble has net debt of USD 300 million and liquidity of USD 600 million. Noble had a contract backlog of USD 1.6 billion at the end of 2020.
After the investment in Noble has been completed, the Company will in addition own:
- 33.3% of the 2020 built VLCC Gustavia S
- 100% of four (4) large sized PSVs
- 28% ownership of six (6) medium sized PSVs
Following the purchase of shares in Noble, S.D Standard Drilling Plc will have a bank balance of approximately USD 18 million, including cash in the Company and within its 100% owned subsidiaries.
Source: Newsweb
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