Transocean Inc, the world's largest offshore oil driller, agreed to settle a lawsuit filed against smaller rival Noble Corp over drilling technology patents.
Noble, the third-largest offshore driller, can use the technology on a deepwater rig in the Gulf of Mexico, Transocean said on Monday.
Transocean sued Noble in Houston in February, accusing it of infringing four patents covering a way to use two drilling systems under a single derrick to save time.
Transocean is trying to protect its market leadership among the most advanced rigs, as producers such as Royal Dutch Shell plc and Chevron Corp increase drilling in the world's deepest waters to take advantage of higher energy prices.
The suit targeted Sugar Land, Texas-based Noble's Clyde Boudreaux drilling rig, built under a contract with a unit of Royal Dutch Shell for use in the Gulf of Mexico. As part of the accord, Houston-based Transocean granted Noble a worldwide licence for using the inventions on the rig.
Transocean reached agreements with smaller competitors to use the dual-drilling technology, which it claims can reduce the cost of a deepwater project by as much as 40 per cent.
In February, GlobalSantaFe Corp, the world's second-largest offshore oil driller, agreed to pay Transocean US$15 million plus royalties to end a patent lawsuit over the inventions. Under the accord, GlobalSantaFe can use the technology on two deepwater rigs in the Gulf of Mexico and on one being built in Singapore.
Last week, Transocean agreed to buy GlobalSantaFe for about US$17 billion, combining the world's two largest offshore oil and gas drillers in a market where demand for rigs has never been higher.
The average daily rent rate for a deepwater floating rig in June was US$494,957, according to ODS-Petrodata.
Transocean and Noble said in a July 26 court filing they had settled the litigation.
Noble, the third-largest offshore driller, can use the technology on a deepwater rig in the Gulf of Mexico, Transocean said on Monday.
Transocean sued Noble in Houston in February, accusing it of infringing four patents covering a way to use two drilling systems under a single derrick to save time.
Transocean is trying to protect its market leadership among the most advanced rigs, as producers such as Royal Dutch Shell plc and Chevron Corp increase drilling in the world's deepest waters to take advantage of higher energy prices.
The suit targeted Sugar Land, Texas-based Noble's Clyde Boudreaux drilling rig, built under a contract with a unit of Royal Dutch Shell for use in the Gulf of Mexico. As part of the accord, Houston-based Transocean granted Noble a worldwide licence for using the inventions on the rig.
Transocean reached agreements with smaller competitors to use the dual-drilling technology, which it claims can reduce the cost of a deepwater project by as much as 40 per cent.
In February, GlobalSantaFe Corp, the world's second-largest offshore oil driller, agreed to pay Transocean US$15 million plus royalties to end a patent lawsuit over the inventions. Under the accord, GlobalSantaFe can use the technology on two deepwater rigs in the Gulf of Mexico and on one being built in Singapore.
Last week, Transocean agreed to buy GlobalSantaFe for about US$17 billion, combining the world's two largest offshore oil and gas drillers in a market where demand for rigs has never been higher.
The average daily rent rate for a deepwater floating rig in June was US$494,957, according to ODS-Petrodata.
Transocean and Noble said in a July 26 court filing they had settled the litigation.