Noble to retire three drilling semis

Noble Corp. (NYSE: NE) has decided to retire the semisubmersible drilling rigs Noble Paul Wolff, Noble Driller, and Noble Jim Thompson.

Feb 6th, 2015

Offshore staff

LONDONNoble Corp. (NYSE: NE) has decided to retire the semisubmersible drilling rigsNoble Paul Wolff, Noble Driller, and Noble Jim Thompson.

David W. Williams, chairman, president and CEO, said the decision was based on revised assumptions on the rigs’ future marketability in light of their age, technical features, and capital requirements in the context of the future supply of competitive rigs.

“These rig retirements will reduce the average age of a fleet whose concentration of premium assets is already among the industry’s highest. We will continue to evaluate the fleet in 2015 as we work to opportunistically position the company ahead of the next cyclical upturn.”

The client for theNoble Jim Thompson has agreed to take instead the semisub Noble Paul Romano to execute a contract comprising four wells or a primary term of up to one year in the US Gulf of Mexico.

Noble Paul Romano will mobilize from its current location in the Canary Islands and should start operations in early September. The day rate for the primary term of the contract will remain at $300,000.

02/06/2015

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