Noble to divest six jackups in $424 million deal, sharpening deepwater focus
Noble Corporation has taken a major strategic step to streamline its offshore fleet, announcing definitive agreements to divest six jackups in two separate transactions that will transition the company into a pure-play deepwater and ultra-harsh-environment operator.
Under the first deal, Borr Drilling will acquire five Noble rigs — the Tom Prosser, Mick O’Brien, Regina Allen, Resilient and Resolute — for a total of $360 million. The consideration includes $210 million in cash and $150 million in seller notes backed by first-lien security on three of the units. Closing is expected in early 2026, pending Borr’s financing. Noble will continue to operate the Mick O’Brien and Resolute for up to one year under a bareboat charter agreement.
In a second transaction, Noble agreed to sell the Noble Resolve to Ocean Oilfield Drilling for $64 million, with closing targeted for the second quarter of 2026 following completion of its current contract.
Noble CEO Robert W. Eifler said the divestitures sharpen the company’s strategic focus while strengthening its financial position. “These transactions are expected to be immediately accretive to our shareholders and will bolster our balance sheet as we concentrate on our established positions in the deepwater and ultra-harsh jackup segments,” he said.
Once the sales close, Noble’s fleet will fully align with its long-term plan to concentrate capital on higher-specification assets that support deepwater growth and ultra-harsh-environment drilling demand.
Pictured above: the Resolute jackup rig operating in the North Sea.
