Noble Corporation plc ("Noble") says it plans to divest the cold stacked drillships Pacific Meltem and Pacific Scirocco in order to eliminate costs related to these units and prioritize resources on the existing marketed fleet. The Company intends to divest these units in a manner which would effectively retire them permanently from drilling operation, including potentially scrapping the units.
Robert W. Eifler, President and Chief Executive Officer of Noble Corporation plc, stated, "Our decision to retire these non-contributing assets is based on a continuous cost-benefit evaluation of idle capacity. These retirements will be immediately cash flow accretive and result in a leaner, fitter fleet composition for Noble going forward."
About Noble Corporation
Noble is a leading offshore drilling contractor for the oil and gas industry. The Company owns and operates one of the most modern, versatile, and technically advanced fleets in the offshore drilling industry. Noble and its predecessors have been engaged in the contract drilling of oil and gas wells since 1921. Noble performs, through its subsidiaries, contract drilling services with a fleet of offshore drilling units focused largely on ultra-deepwater and high specification jackup drilling opportunities in both established and emerging regions worldwide.