What You Need to Know about Noble’s May Fleet Status Report



Fleet status report

Last week, Noble Corporation (NE) released its monthly fleet status report. A fleet status report includes contract information, drilling status, and planned out-of-service time for every rig. In this part, we’ll look at the report in more detail. 

Noble Corporation is the only company in the offshore drilling space that still releases monthly fleet status reports. All other companies have switched from monthly reports to quarterly reports.

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According to Noble Corporation’s latest fleet status report, the company has secured two new contracts. Noble’s jack-up rig—Noble Houston Colbert—secured a contract in the UK North Sea. The contract is scheduled to start in May 2019 and end in November 2019. The company hasn’t disclosed the contractor or the dayrate.

Another Noble jack-up rig—Noble Mick O’Brien—secured work in Qatar with Qatar Gas. The contract is scheduled to start in June and is expected to end in January 2019. The company hasn’t disclosed the dayrate for this contract.


The new contracts are expected to add to the company’s current backlog. On March 31, Noble had a backlog of $2.8 billion—$1.8 billion from its floater fleet and $1.0 billion from its jack-up fleet. Noble’s backlog has fallen from $3.0 billion as of December 31, 2017.


Following are the offshore drilling (XLE) companies’ backlogs:

  • On March 31, Ensco (ESV) had a total contracted backlog of $2.7 billion, compared to $3.8 billion on December 31, 2017.
  • Transocean’s (RIG) backlog according to its April fleet status report was $12.5 billion—down from $12.8 billion in February.
  • On April 18, Rowan Companies (RDC) had a backlog of $379.0 million, down from $456.0 million in February.

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