Noble to sell four jackups to ADES for $292m

Offshore driller Noble Corporation has struck a deal to sell four jackups to UAE-based offshore rig operator ADES International for $292m.

The New York-listed drilling giant is selling the Noble Roger Lewis, Noble Scott Marks, Noble Joe Knight, and Noble Johnny Whitstine, all on contracts with Saudi Aramco, which will be novated to ADES. Closing is expected before the end of October 2021.

“The sale of these four jackups further bolsters our already strong balance sheet and improves Noble’s financial flexibility. As we look to 2022, our anticipated net cash position coupled with our expected free cash flow generation better positions the company to execute on our financial priorities to repay debt and return cash to shareholders,” said Robert Eifler, president and CEO of Noble.

Noble drilling fleet currently stands at 24 units, consisting of 12 drillships and semisubs and 12 jackups.