Noble Corporation Ordinary Shares (UK) (NYSE:NE) Strikes Deal With Exxon Mobil Corporation (NYSE:XOM) For Noble Paul Romano

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Noble Corporation Ordinary Shares (UK) (NYSE:NE) Strikes Deal With Exxon Mobil Corporation (NYSE:XOM) For Noble Paul Romano

Noble Corporation Ordinary Shares (UK) (NYSE:NE) has revealed that Exxon Mobil Corporation (NYSE:XOM) has contracted the Noble Paul Romano drillship for a period of three years.

Noble made the announcement through its latest monthly fleet update, revealing that ExxonMobil has signed a three-year deal for the Noble Paul Romano drillship. The contract will commence within the first half of 2018 and it will be concluded in 2021. The terms of the deal including the day rate are yet to be disclosed. The company has also not specified the purposes of the drillship.

ExxonMobil will most likely use the Noble Paul Romano for its drilling activities in the Liza project. This is however just speculation based on the fact that the company recently announced that the Liza project will most likely o online by 2020. It will feature four drill centers with 17 wells, out of which 8 will be production wells.

“Noble Paul Romano also won two extensions with Hess Corporation HES in the Gulf of Mexico, the first until October at the same dayrate of $128,500 and then until December at a reduced dayrate of $115,000,” Noble revealed.

Noble deals with diversified services for the gas and oil industry. It has a fleet of 28 offshore drilling units that include 14 semisubmersibles, drill ships and 14 jackups that are all part of its contract drilling services. Noble also offers its contract drilling services combined with labor contract drilling, project management, engineering and consulting services. The services are available in various regions including Brazil, Mexico, India, The Middle East, the North Sea and the United States.

Noble is also a leader in offshore drilling with a strong portfolio of assets. This makes it a stable contender in an industry that has been experiencing major setbacks over the past few months. This is particularly due to a robust backlog position of roughly $3.2 billion. The company also intends to further strengthen its position through acquisitions as well as new projects.

Noble stock closed the latest trading session on Monday at $3.16 after the stock tanked by 2.17 percent compared to the value at the previous close.