Noble inks deals with Shell and Frontier
NOBLE Corp said yesterday it will buy Frontier Drilling for US$2.16 billion in cash and struck US$4 billion worth of new contracts with Royal Dutch Shell.
Noble, a Swiss offshore drilling services company, also said it has allowed Shell to suspend any contracts the two have for rigs operating in the Gulf of Mexico because of the proposed United States moratorium on drilling in deep water.
The agreements with Shell cover two ultra deepwater projects and are subject to closing the deal with Frontier.
The Frontier deal would add six floating drilling units to Noble's fleet.
Shell will pay reduced fees for leasing the rigs in the Gulf. The Obama administration in May ordered a six-month halt on exploratory drilling in waters more than 500 feet deep.
The ban is being disputed in the courts. Noble was stung earlier this month when Anadarko Petroleum said it planned to excuse itself from drilling contracts.
Noble spokesman John Breed said the Shell deal is aimed at keeping oil firms from trying to abandon agreements altogether in the Gulf.
"We're working to find a resolution that would allow them to keep rigs under contract," Breed said.
Noble, a Swiss offshore drilling services company, also said it has allowed Shell to suspend any contracts the two have for rigs operating in the Gulf of Mexico because of the proposed United States moratorium on drilling in deep water.
The agreements with Shell cover two ultra deepwater projects and are subject to closing the deal with Frontier.
The Frontier deal would add six floating drilling units to Noble's fleet.
Shell will pay reduced fees for leasing the rigs in the Gulf. The Obama administration in May ordered a six-month halt on exploratory drilling in waters more than 500 feet deep.
The ban is being disputed in the courts. Noble was stung earlier this month when Anadarko Petroleum said it planned to excuse itself from drilling contracts.
Noble spokesman John Breed said the Shell deal is aimed at keeping oil firms from trying to abandon agreements altogether in the Gulf.
"We're working to find a resolution that would allow them to keep rigs under contract," Breed said.
- About Us
- |
- Terms of Use
- |
-
RSS
- |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证:沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证:31120180004
- |
- 网络视听许可证:0909346
- |
- 广播电视节目制作许可证:沪字第354号
- |
- 增值电信业务经营许可证:沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.