"Noble",announced that it has completed the sale of five jackup rigs to Borr Drilling Limited for $360 million.

HOUSTON,  /PRNewswire/ -- Noble Corporation plc (NYSE: NE, "Noble", or the "Company") today announced that it has completed the sale of five jackup rigs to Borr Drilling Limited (NYSE: BORR, "Borr") for $360 million. The Company generated approximately $210 million in cash plus $150 million in seller notes from the sale of the Noble Tom Prosser, Noble Mick O'Brien, Noble Regina Allen, Noble Resilient and Noble Resolute. Noble intends to operate two rigs – Noble Mick O'Brien and Noble Resolute – under a bareboat charter agreement with Borr until December 2026, as well as the Noble Resilient through the remainder of its current contract term (including exercise of any customer options).

About Noble Corporation plc

Noble is a leading offshore drilling contractor for the oil and gas industry. The Company owns and operates one of the most modern, versatile, and technically advanced fleets in the offshore drilling industry. Noble and its predecessors have been engaged in the contract drilling of oil and gas wells since 1921. Noble performs, through its subsidiaries, contract drilling services with a fleet of offshore drilling units focused largely on ultra-deepwater and high specification jackup drilling opportunities in both established and emerging regions worldwide. 

Forward-looking Statements

This communication includes "forward-looking statements" within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act, as amended. All statements other than statements of historical facts included in this communication are forward looking statements, including those regarding the Borr's seller notes and bareboat charter agreement, expectations regarding the impact of the transactions on Noble, the benefits or results of any acquisitions, dispositions or asset sales, and fleet condition and utilization. 

About Borr Drilling 

Borr Drilling is an international offshore shallow-water drilling contractor that owns and operates a modern fleet of premium jack-up rigs for the oil and gas industry. Founded in 2016, the company specializes in drilling, exploration, production, and workover services, primarily operating in water depths up to 400 fee

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