Noble adds $525 million of contracts to drilling backlog

Noble Corp. has issued an update on its recent drilling contract awards, which total about $525 million in value, excluding extension options.

Offshore Ghana, Tullow has awarded the Noble Venturer drillship a six-well contract priced at $171 million. The 360-day program, set to start in May, will likely comprise 120 days’ activity in 2025 and 240 days in 2026.

The Noble Developer semisubmersible rig should begin a three-well contract (plus one option well) for Petronas offshore Suriname in June. The firm duration is 200 days, with a total value of $84 million.

During third-quarter 2026, the rig will start work for Shell in the Americas on a 180-day, $70 million contract.

Last month, the Noble Globetrotter I drillship embarked on a one-well contract (plus six option wells) in the US Gulf of Mexico. Assuming all options are exercised over a period of just over 200 days, the estimated value is about $70 million.

Also in January, the Noble Gerry de Souza drillship began a 140-day extension program with TotalEnergies offshore Nigeria. Further options could keep the rig contracted to the company for another year.

TAQA has taken up options for 16 wells for the Noble Patriot semisubmersible rig in the UK North Sea, representing about one additional year of work into early 2029.

In the same sector, bp exercised an option for two wells for the Noble Innovator jackup rig for 200 days between May 2026 and November 2026, at $155,000/d.

Finally, the Ocean Apex semisub’s work scope for a program offshore Australia was extended by 37 days minimum into third-quarter 2025.

Noble's current contracts backlog is $5.8 billion.

President and CEO Robert W. Eifler said, "We are encouraged by the depth and breadth of our active discussions with customers and line of sight to potentially contracting all of our tier-1 drillships this year for programs commencing throughout 2025-2026.”