The company expects to generate about $285 million in cash from the transaction net of fees, expenses, and the settlement of working capital.
Ownership of the Noble Roger Lewis, Noble Scott Marks, Noble Joe Knight, and Noble Johnny Whitstine as well as employment of the crews have been transferred and the drilling contracts with Saudi Aramco have been novated to ADES.
Noble said it will continue to provide certain customary transition support services for a limited period.
