Noble Corporation introduced the acquisition of a brand new Gusto MSC CJ46 design jackup rig from the PaxOcean Group in reference to a concurrently awarded drilling contract.
Noble paid $33.75 million of the $93.75 million buy worth in money, with the rest of the acquisition worth, or $60 million seller-financed at a four.25% rate of interest paid in money and 1.25% paid in sort over the time period of the financing. The Company used current money balances for the preliminary cost and the secured seller-financed quantity is to be repaid in 4 years. The Company additionally has an choice for the acquisition of a second newbuild CJ46 jackup from PaxOcean.
The newbuild jackup, to be named the Noble Johnny Whitstine, was constructed on the PaxOcean Graha shipyard in Batam, Indonesia. PaxOcean, a wholly-owned subsidiary of Kuok (Singapore), is headquartered in Singapore providing a variety of providers overlaying vessel newbuildings, offshore engineering, rig constructing, ship and rig restore, upkeep and conversion.
The strong rig design for reasonable environments permits for operations in water depths of as much as 375 ft and properly depths of 30,000 ft. A contemporary drilling management system and versatile 70 ft. x 40 ft. envelope cantilever skidding system outfitted with two blow out preventers contribute to the rig’s enhanced drilling capabilities.
In reference to the acquisition, Noble has entered into a brand new drilling contract within the Middle East area with a three-year main time period, plus a one-year choice, with an anticipated graduation of early-2019.
Julie J. Robertson, Chairman, President and Chief Executive Officer of Noble Corporation plc, acknowledged, “With our premium jackup rig fleet totally dedicated via late-2018, and additional proof of rising jackup demand into 2019, we stay centered on progress alternatives that reinforce our aggressive place. This engaging acquisition of a confirmed and extremely versatile jackup design will present us with a close to time period contract dedication and future alternatives the place rising buyer demand is clear.” (Source: Noble Corporation – Image: PaxOcean/PaxOcean Graha shipyard in Batam, Indonesia)

The submit NOBLE ACQUIRES NEWBUILD JACKUP TO BE NAMED JOHNNY WHITSTINE appeared first on Energy Global News.

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