Noble Corp. lands more work for two drilling rigs

June 23, 2021, by Nermina Kulovic

Offshore drilling contractor Noble Corporation has secured more work for two of its drilling rigs while one jack-up unit has been warm stacked in the UK.

The Noble Corporation-owned Pacific Khamsin drillship; Source: Equinor

In its latest fleet status report, published on Wednesday, Noble Corporation revealed that Qatar Gas has exercised a one-year option for the Noble Mick O’Brien jack-up rig, keeping the rig contracted into early September of 2022. The day rate has not been disclosed, but Bassoe estimated it will be about $75,000.

The 2013-built rig has been under contract with Qatar Gas since late October 2019 and, following the exercise of this option, Qatar Gas has a one-year option remaining under the contract.

The 2013-built Pacific Khamsin drillship has been awarded a one-well contract with EnVen, starting from early January 2022 to late February 2022. The day rate for the Gulf of Mexico contract has not been disclosed, but Bassoe estimates it will be about $210,000. EnVen also has three one-well options for the rig, which are subject to mutual agreement.

The drillship is currently under contract with Petronas in Mexico until mid-October 2021 with a day rate of $192,000. Petronas also has two priced option wells and two additional option wells at market rates after EnVen work.

Noble Corp. also said in the report that there has been a change to the start date for the Noble Lloyd Noble rig with Equinor. Instead of starting the contract in Norway in July 2021 and finishing in March 2022, the rig will start in early September 2021 and end in May 2022.

Furthermore, one Noble-owned rig has been warm stacked since early May 2021. Namely, the 2014-built Noble Sam Hartley was warm stacked in the UK following the completion of its contract with CNOOC, also in the UK. The rig had also been stacked before it started its contract with CNOOC back in August 2020.

In recent company news, following the completion of financial restructuring and the acquisition of rival Pacific Drilling, Noble Corporation in early June received approval for listing its ordinary shares on the New York Stock Exchange (NYSE).