Noble Corporation plc
Company typePublicly Traded Company
NYSE: NE
IndustryPetroleum industry
PredecessorNoble Drilling Corporation
Founded1985; 39 years ago (1985)
HeadquartersOrganized in London
Main office in Sugar Land, Texas, United States
Key people
Robert W. Eifler, President & CEO
Richard B. Barker, CFO
ServicesOffshore Drilling
RevenueIncrease $0.964 billion (2020)
Increase -$3.978 billion (2020)
Total assetsDecrease $4.263 billion (2020)
Total equityDecrease -$0.311 billion (2020)
Number of employees
1,500 (2020)
Websitewww.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.

The company operates 24 drilling rigs including eight drillships, four semi-submersible platforms, and 12 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]

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.[11]

In 2017, an employee went missing on the Noble Lloyd Noble drilling rig.[12]

References

  1. ^ a b c "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.
  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. ^ D'ORO, RACHEL (July 17, 2012). "Shell Oil ship mishap in Alaska fuels concerns". Stuff.
  12. ^ "Search for man missing from Noble Lloyd Noble drilling rig scaled back". BBC News. May 10, 2017.
Categories