Noble completes $360-million sale of five jackups to Borr Drilling
(WO) - Noble Corporation has completed the sale of five premium jackup drilling rigs to Borr Drilling in a transaction valued at $360 million, the companies said.
Under the agreement, Noble received approximately $210 million in cash and $150 million in seller notes for the Noble Tom Prosser, Noble Mick O’Brien, Noble Regina Allen, Noble Resilient and Noble Resolute. As part of the deal, Noble will continue to operate the Noble Mick O’Brien and Noble Resolute under bareboat charter arrangements with Borr through December 2026, as well as the Noble Resilient through the remainder of its existing customer contract, including any exercised options.
For Borr Drilling, the acquisition expands its jackup fleet to 29 rigs and further increases its exposure to near-term offshore drilling opportunities across key global basins. The company said the rigs are compatible with its existing fleet and strengthen its position in the premium jackup segment.
Following the transaction, the rigs will be renamed within Borr’s fleet: Noble Regina Allen becomes Sif, Noble Tom Prosser becomes Freyja, Noble Mick O’Brien becomes Forseti, Noble Resolute becomes Bestla, and Noble Resilient becomes Joro.
The sale aligns with Noble’s ongoing portfolio management strategy while allowing Borr to capitalize on improving utilization and demand in the offshore jackup market. Both companies said the transaction has now closed.
Pictured at top: Noble's Resolute jackup rig, to be renamed Bestla in Borr Drilling's fleet.
