Noble completes acquisition of Diamond Offshore adding $2B of backlog

Noble Corporation (NE) announces the completion of its acquisition of Diamond Offshore Drilling (DO). This transaction enhances Noble’s position as a leading offshore driller, creating the largest fleet of 7th generation dual-BOP drillships in the industry, and adding approximately $2B of backlog. Following completion of the acquisition of Diamond, the Company’s board of directors has appointed Patrice Douglas from the Diamond board of directors to serve as a new director of Noble. Following Noble’s acquisition of Diamond, investors should not rely on Noble’s previously issued financial guidance for 2024, which is no longer applicable on a combined company basis. Noble has published an updated fleet status report reflecting the addition of the Diamond rigs and other updates, chiefly the addition of 4.8 rig years of backlog recently awarded under the Commercial Enabling Agreement with ExxonMobil for the Company’s four drillships operating in Guyana. These updates increase Noble’s current backlog to $6.7B.