Noble Divestment Of Four Jackups In Saudi Arabia
Noble Corporation reached a definitive agreement to sell four jackups to ADES International Holding Ltd., through its subsidiary, (“ADES”) for $292 million.
The Company expects to generate approximately $285 million in cash from the transaction net of fees, expenses, and the settlement of working capital.
The Noble Roger Lewis, Noble Scott Marks, Noble Joe Knight, and Noble Johnny Whitstine will be sold and the current drilling contracts novated to ADES. Closing is expected before the end of October 2021 and is subject to the satisfaction of closing conditions, including novation of the drilling contracts and regulatory approvals.
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