Noble’s CEO sees ‘highly encouraging’ signs ahead for its fleet thanks to surge in rig demand

Offshore drilling contractor Noble Corporation is anticipating a further boost to its contract backlog over the next two years, as the current offshore drilling market fundamentals indicate that the ongoing upcycle will continue to push fleet utilization and day rates upward, with the rig demand on the rise. The company got a hold of more than $500 million in new contract awards since November 2023, thus, its total backlog currently stands at $4.6 billion.