Noble Secures Three Offshore Drilling Rig Deals

Published at 12:50PM - 16/10/15

Offshore drilling specialists, Noble Drilling, have confirmed that it has secured contracts for three of its offshore drilling rigs.

According to the firms latest ‘Fleet Status Report’, published 15th October, Noble has managed to extend one contract and gain a further two.

Noble Houston Colbert

Noble said that its shallow water jack-up rig, the Noble Houston Colbert, has gained a 2 month extension on its existing contract with French major Total.

The contract will see the firm keep the drilling rig in Argentinian waters, with the extension running from April 2016 to June 2016. However, the extension saw a renegotiation on the current day rate of US$ 243,000 a day to Us$175,000, a drop of 28%.

Noble Sam Hartley

The French oil and gas exploration firm also singed a deal with Noble for a second jack-up driller, the Noble Sam Hartley. Total will use the shallow water jack-up rig in the oil rich nation of Brunei, over a duration of three years.

The contract is due to start in January 2016, after the Sam Hartley completes modifications and testing specific to the deal, and will see the rig operate at a day rate of US$111,000.

Noble Danny Adkins

Texas based Talos Energy have singed a two and a half month deal for, the deepwater semisubmersible, the Noble Danny Adkins.  The contract will see the semi driller operate in the US Gulf of Mexico from early November 2015 to mid January 2016.

The US$206,000 day rate will be welcomed for the semisubmersible, that has been sat idle since it finished its last contract in August.

Offshore Drilling Industry

The news will be seen as small, but green shoots all the same, for the offshore drilling industry, an industry that has suffered heavily over the last year. 

The slump in oil price is still having effect on the largest players in the market, who run bloated fleets, over expanded in by the heady days of $140 plus barrels of oil.

Smaller companies that specialise purely in small shallow water operations are also still finding life hard, however, for the medium sized, agile drilling operators with a young and capable fleet, the signs of an improving market are starting to show,