Noble to sell four jackups to ADES

Offshore staff

SUGAR LAND, Texas – Noble Corp. has reached a definitive agreement to sell four jackups to ADES International Holding Ltd. for $292 million.

The company expects to generate about $285 million in cash from the transaction net of fees, expenses, and the settlement of working capital. 

The Noble Roger Lewis, Noble Scott Marks, Noble Joe Knight, and Noble Johnny Whitstine will be sold and the current drilling contracts with Saudi Aramco novated to ADES.

Closing is expected before the end of October 2021. It is subject to the satisfaction of closing conditions, including novation of the drilling contracts and regulatory approvals.

08/26/2021