Noble Corporation Completes Diamond Offshore Acquisition

U.S.-based offshore drilling contractor Noble Corporation on Wednesday announced it has completed its acquisition of peer Diamond Offshore Drilling. 

The merger creates the industry's largest fleet of 7th generation dual-BOP drillships and adds 4.8 rig years and approximately $2 billion to the Noble backlog, which now stands at $6.7 billion.

Noble's board of directors has appointed Patrice Douglas from the Diamond board of directors to serve as a new director of Noble.

Robert W. Eifler, President and Chief Executive Officer of Noble, said, "We are excited to close this highly strategic and accretive transaction ahead of schedule and commence our integration activities. On behalf of Noble's board of directors and employees, I would like to welcome the Diamond organization onboard and look forward to our exciting journey ahead as a combined team."

Charles M. (Chuck) Sledge, Noble's Chairman of the Board of Directors, said, "This combination marks a crucial next step in Noble's 7G deepwater leadership strategy. We are excited to bring Diamond's exceptional team and fleet on to the Noble platform and look forward to delivering valuable synergies for all stakeholders through the integration of these two great companies. I would also like to welcome Patrice Douglas, who was been nominated to join Noble's board of directors from the Diamond board."