(Noble, 5.Nov.2024) — Noble Corporation plc, which closed the Diamond Offshore Drilling, Inc. acquisition on 4 Sep. 2024, is now looking to capture value, the company’s president and CEO Robert W. Eifler said.
“We are excited to have closed on the Diamond acquisition during the third quarter, enabling us to start capturing the value from the transaction earlier than expected,” Eifler said 5 Nov. 2024 in the company’s third-quarter 2024 financial and operational statement.
The Diamond transaction enhances Noble’s position as a leading offshore driller, creating the largest fleet of 7th generation dual-BOP drillships in the industry, and adding approximately $2bn of backlog, the company said in its 4 Sep. 2024 official statement.
“Our strategy of pursuing rational and accretive growth in the high-end deepwater segment toward an ultimate objective of maximizing cash returns to shareholders is yielding tangible results, as evidenced by robust third quarter free cash flow and a sector leading dividend and buyback program. Despite a more muted near-term demand environment than we had envisioned coming into this year, Noble is uniquely well positioned to deliver customer and shareholder value through various market conditions,” Eifler said in the 3Q:24 statement.
RELATED STORY: Noble Reports 3Q:24 Results, Updates on Diamond
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By Stephen Stewart. © Energy Analytics Institute.
