In a statement on Thursday, Maersk Drilling and Noble Corp. said that Noble had struck a deal to sell five jack-ups to a newly created subsidiary of the jack-up drilling firm Shelf Drilling for $375 million. The rigs to be sold are Noble Hans Deul, Noble Sam Hartley, Noble Sam Turner, Noble Houston Colbert, and Noble Lloyd Noble. The charter agreement would pass the economic benefit of its drilling contract to Shelf Drilling. Shelf Drilling has paid a deposit of USD 37.5 million under the rig purchase deal, which will not be repayable in case Shelf Drilling fails to complete the acquisition and such failure is due to non-satisfaction of the conditions precedent Shelf Drilling or SDNS are responsible for satisfying. Also, in relation to the proposed merger, Noble Corp. and Maersk Drilling expect Noble will launch the planned exchange offer for shares of Maersk Drilling in August 2022.

Source: The North Africa Journal June 23, 2022 15:07 UTC