Noble Corporation and Diamond Offshore, two major U.S.-based offshore drilling companies, have completed their merger ahead of schedule. Originally expected to be finalized by Q1 2025, the business combination concluded after the expiry of the Hart-Scott-Rodino waiting period on July 24, 2024, securing the necessary regulatory clearances including from the Australia Competition & Consumer Commission. The $600 million transaction, comprising both stock and cash, bolsters Noble’s fleet, expanding it to 41 rigs, and increases the company’s combined backlog to more than $6.5 billion. Noble’s CEO, Robert Eifler, expressed excitement about integrating Diamond’s assets and team. Charles M. (Chuck) Sledge, Noble’s Chairman, highlighted that the merger aligns with Noble’s 7G deepwater leadership strategy. As part of the integration, Patrice Douglas from Diamond’s board will join Noble’s board.
Offshore Drilling, Energy, Mergers & Acquisitions,United States, Australia, Global
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