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Noble Corporation’s Latest Fleet Status Report

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Fleet status report

Noble Corporation has secured two new contracts:

  • Noble Corporation’s jack-up rig Noble Hans Deul secured a contract with Spirit Energy in the United Kingdom. The contract will commence in April 2018 and will go through late October 2018. Noble Corporation hasn’t disclosed the day rate on this contract. The contract also includes an option to extend, which if exercised the rig will be busy well into 2019.
  • Noble Corporation’s other jack-up rig, Noble Tom Prosser secured a contract with ConocoPhillips (COP). The contract will commence in April 2018 and will extend to December 2018. The company hasn’t disclosed the day rate for this contract.

Other than new contracts, some of the important news in the fleet status report included:

  • Noble Corporation will cold stack two old jack-up rigs built in 1980 and 1981.
  • Noble Corporation’s jack-up rig Sam Hartley finished the contract with Total (TOT) and is warm stacked in Malaysia. The company also warm stacked another jack-up rig in the United Arab Emirates.

Backlog

The two new contracts will likely contribute to Noble Corporation’s backlog. At the end of the third quarter, Noble Corporation’s backlog stood at $3.18 billion—down 1% from the previous quarter. Seadrill Partners (SDLP) and Diamond Offshore’s (DO) backlogs were down 11%, while Rowan Companies’ (RDC) backlog was down 43%.

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