Noble Corporation

Last updated
Noble Corporation plc
Company type Public
Industry Petroleum industry
PredecessorNoble Drilling Corporation
Founded1985;40 years ago (1985)
HeadquartersOrganized in London
Main office in Houston, Texas, United States
Key people
Robert W. Eifler, President & CEO
Richard B. Barker, CFO
Services Offshore Drilling
RevenueIncrease2.svg $3.057 billion (2024)
Increase2.svg $0.448 billion (2024)
Total assets Decrease2.svg $7.900 billion (2024)
Total equity Decrease2.svg $4.628 billion (2024)
Number of employees
5,300 (2024)
Website www.noblecorp.com
Footnotes /references
[1]

Noble Corporation plc is an offshore drilling contractor organized in London, England. Its affiliate, Noble Corporation, is organized in the Cayman Islands. It is the corporate successor of Noble Drilling Corporation.

Contents

The company operates 38 drilling rigs including severnteen drillships, eight semi-submersible platforms, and thirteen jackup rigs. [1]

In 2020, 26.6% of revenues were from ExxonMobil, 21.7% of revenues were from Shell, 14.3% of revenues were from Equinor, and 13.8% of revenues were from Saudi Aramco. [1]

History

In 1985, Noble Affiliates, Inc., completed the corporate spin-off of Noble Drilling Corporation.

In 2002, the company underwent a restructuring whereby it moved its domicile to the Cayman Islands and established Noble Corporation as the parent holding company. [2]

In early 2009, the company moved its domicile from the Cayman Islands to Switzerland due to the potential for more U.S. taxes on Caribbean tax havens. In 2013, the company moved to the United Kingdom. [3]

In 2010, the company acquired Frontier Drilling in a $2.16 billion cash transaction. [4]

In 2014, the company distributed its interests in Paragon Offshore plc to its shareholders. [5]

In July 2020, the company filed for bankruptcy; [6] it emerged from bankruptcy in February 2021. [7]

In April 2021, the company acquired Pacific Drilling. [8]

In November 2021, it was announced that Maersk Drilling would merge with Noble Corporation and the combined company would be called Noble Corporation, with a valuation of £2.6 billion. [9] The merger was completed on October 3, 2022. [10]

In June 2024, the company announced it would acquire Diamond Offshore Drilling for $1.6 billion in a cash-and-stock deal. [11] The company now has 5300 employees and operates more than 35 rigs.

In December 2025, it was announced Noble had agreed to sell five premium jack-up drilling rigs to the Bermuda-based Borr Drilling Limited for approximately US$360 million. The transaction, expected to close in the first quarter of 2026 subject to customary conditions, includes three Friede & Goldman JU-3000N design rigs and two Gusto MSC CJ50 design rigs, with two of the units to be chartered back to Noble on a temporary bareboat basis. [12]

Accidents and incidents

In 2012, the Noble Discoverer drillship, operating under contract for Shell lost its mooring and drifted close to shore. There were no injuries or environmental damage reported as a result of the accident. [13]

In 2017, an employee went missing on the Noble Lloyd Noble drilling rig. [14]

References

  1. 1 2 3 "Noble Corporation plc 2020 Form 10-K Annual Report". United States Securities and Exchange Commission.
  2. ↑ "Noble Drilling Corporation 2004 Annual Report" (PDF). Noble Drilling Corporation.
  3. ↑ Reddall, Braden (July 1, 2013). "Noble Corp changing countries again, this time to UK". Reuters . Archived from the original on February 27, 2018.
  4. ↑ "Noble Corporation Enters Into Agreement to Acquire Frontier Drilling and Strengthens Key Strategic Relationship" (Press release). PR Newswire. June 28, 2010.
  5. ↑ "Noble Corporation Completes Spin-Off Of Paragon Offshore" (Press release). PR Newswire. August 4, 2014.
  6. ↑ Mann, Joshua (July 31, 2020). "Noble Corp. files massive bankruptcy in Houston". American City Business Journals .
  7. ↑ "Noble Holding Corporation plc Successfully Completes Balance Sheet Restructuring And Emerges From Chapter 11" (Press release). PR Newswire. February 8, 2021.
  8. ↑ "Noble Corporation Completes Combination With Pacific Drilling" (Press release). PR Newswire. April 16, 2021.
  9. ↑ "Regulator warns of more oil and gas price hikes after North Sea merger". 22 April 2022.
  10. ↑ plc, Noble Corporation. "Noble and Maersk Drilling Close Business Combination, Creating a New and Dynamic Leader in Offshore Drilling". www.prnewswire.com (Press release). Retrieved 2023-10-20.
  11. ↑ Kumar, Arunima (June 10, 2024). "Noble Corp offers $1.6 bln for rival Diamond Offshore to strengthen fleet". Reuters.
  12. ↑ Corner, Elizabeth (2025-12-15). "WFW advises Borr on US$360 million acquisition of five premium jack-up rigs from Noble". Oilfield Technology. Retrieved 2025-12-15.
  13. ↑ D'ORO, RACHEL (July 17, 2012). "Shell Oil ship mishap in Alaska fuels concerns". Stuff .
  14. ↑ "Search for man missing from Noble Lloyd Noble drilling rig scaled back". BBC News . May 10, 2017.
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