Noble Corporation reported a series of rig contracts and extensions that, in total, are expected to add about $1.3 billion to its backlog. The company said the awards cover nine rigs and include a mix of new multi-year work and term extensions on existing units.
The most prominent award is a strategic entry into Norway's floater market: a three-year contract for the Noble GreatWhite semisubmersible, which Noble said carries a value of $473 million and was awarded by Aker BP. Separately, an affiliate of ExxonMobil has contracted the Noble Gerry de Souza for a two-year drilling assignment in Nigeria.
In addition to those new awards, Noble secured extensions for four drill ships operating in Guyana under an agreement with ExxonMobil, with the extensions running through February 2029. Noble characterized the combination of new awards and extensions as materially improving its floater coverage.
As a result of the recent awards, Noble expects that 92% of its 24 marketed floaters will now be under contract, a marked increase from the 75% figure disclosed in its prior fleet status report. The company presented the backlog increase and the higher contracted percentage as central points in the update to its marketed fleet status.
The announced contracts comprise both new market entries and continued work in existing areas of operation. The geographic distribution referenced in Noble's update includes Norway, Nigeria, and Guyana. Contract durations expressly noted by the company include three-year and two-year terms for the newly awarded work and expiration dates for the Guyana extensions through February 2029.
The company framed the awards as additions to backlog and as a driver of the higher expected proportion of contracted floaters among its marketed fleet. Beyond the numerical details provided on contract values, durations, and the change in floater coverage, Noble did not provide additional operational or financial commentary in the statement summarized here.