US oil and gas drilling operator Noble has secured a new contract worth approximately $70m from Shell for its semi-submersible rig, Noble Developer, in the Americas.
The agreement, which includes mobilisation and demobilisation, will span a fixed duration of 180 days, beginning in the third quarter of 2026 (Q3 2026).
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Noble marketing and contracts SVP Blake Denton said: “This new contract reaffirms our long-term commitment to delivering great results for Shell with a focus on safety and efficiency.
“The Noble Developer has previously drilled for Shell in this region, and we look forward to continuing this successful journey together.”
The drilling campaign, set to begin in June 2025, is expected to generate around $84m for Noble.
Built in 2009, the DSS-21 semi-submersible rig can operate in water depths up to 10,000ft (3,048m) and drill to a maximum depth of 40,000ft (12,192m).
The drilling contract with Shell follows the previous agreement last December with Petronas Suriname E&P, a subsidiary of Malaysia’s Petronas, to drill three wells offshore Suriname, reported Offshore Energy.
In the past year, Noble also secured multiple assignments for its rig fleet, including a drilling contract for a drill-ship in the Gulf of Mexico.
It also plans to permanently retire two cold-stacked drill-ships that are expecting lower utilisation in 2025 due to white space risk across the floater segment.
It also anticipates improved market conditions by late 2025 and into 2026.
In June 2024, Noble announced a $1.6bn cash and stock deal to acquire Diamond Offshore Drilling to create a combined fleet of 28 floaters and 13 jack-ups. The acquisition was completed in September of the same year.
Under the agreement, Diamond shareholders will receive 0.2316 Noble shares plus $5.65 per share in cash, representing an 11.4% premium on Diamond’s closing stock price as of 7 June 2024.
