Noble Corporation plc Announces Contract Extension In Guyana

October 8, 2020 at 8:57 AM EDT

LONDON, Oct. 8, 2020 /PRNewswire/ -- Noble Corporation plc (OTC-PINK: NEBLQ, the Company) today announced that the ultra-deepwater drillship Noble Tom Madden has been awarded approximately 6.5 years of additional contract term under the Commercial Enabling Agreement ("CEA") with ExxonMobil for work offshore Guyana.  The Noble Tom Madden was previously contracted until mid-February 2024 and the additional term will extend the rig contract to mid-August 2030.  The rig day rate will be updated at least twice per year subject to a scale-based discount and performance bonus under the CEA which also provides ExxonMobil the flexibility to transfer awarded term between the Noble Don Taylor, Noble Bob Douglas, Noble Tom Madden, and Noble Sam Croft.   

Robert W. Eifler, President and Chief Executive Officer of Noble Corporation plc, stated, "We are extremely pleased to further our relationship with ExxonMobil and their partners offshore Guyana.  This award demonstrates the capability of the Commercial Enabling Agreement to align the interests of Noble and ExxonMobil while continuing our participation in one of the world's premier offshore exploration and development opportunities and supports additional investment by Noble in local content."

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 performs, through its subsidiaries, contract drilling services with a fleet of 24 offshore drilling units, consisting of 12 drillships and semisubmersibles and 12 jackups, focused largely on ultra-deepwater and high-specification jackup drilling opportunities in both established and emerging regions worldwide. Noble is a public limited company registered in England and Wales with company number 08354954 and registered office at 10 Brook Street, London, W1S 1BG England. Additional information on Noble is available at www.noblecorp.com.

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SOURCE Noble Corporation

Craig Muirhead, Vice President - Investor Relations and Treasurer, 713-239-6564, or at investors@noblecorp.com