Contract cancellation, extensions, and warm-stack mode for Noble rigs

Offshore drilling contractor Noble Corporation has received several new contract extensions for its drilling rigs and cancellation of a drilling contract in Vietnam. Noble has also decided to warm-stack some of its rigs.

According to Noble’s latest fleet status report, published on Thursday, 9 July, the Noble Mick O’Brien jack-up has been awarded a contract extension from Qatar Gas.

The contract was previously expected to end in late August 2020.

Following the extension, the rig’s contract in Qatar is now scheduled to end in mid-November 2020.

The Noble Scott Marks jack-up rig has been on standby under a contract with Saudi Aramco since 10 May 2020 for a period of up to 365 days.

The rig’s day rate has been reduced to $0 through the standby period, which will not count against the contract term.

In addition, the rig’s contract in Saudi Arabia has been extended until July 2023. The day rate is set at $159,000.

In the UK, the jack-up rig Noble Sam Hartley has been warm stacked since April 2020 following the completion of its contract with Total.

The rig has now been awarded a contract with CNOOC in the UK which will last from mid-August 2020 until mid-December 2020.

The day rate has not been disclosed. The contract also includes four one-well options.

The Noble Sam Turner jack-up has been warm-stacked in the UK since March 2020 following the completion of a contract with Total.

The rig has now been awarded a one-well contract with Total expected to start in late August and end in late September 2020. The day rate has not been disclosed.

Also in the UK, the Noble Houston Colbert jack-up has been warm-stacked following the completion of a contract with RockRose Energy in April.

Over in Suriname, the Noble Sam Croft drillship has won a contract extension with Apache.

The rig’s option well has been exercised extending the contract to mid-November 2020. The day rate has not been disclosed.

The previously disclosed contract in Vietnam for the semi-submersible Noble Clyde Boudreaux has been cancelled.

To remind, Noble last April said it had won a new gig for the Noble Clyde Boudreaux with an undisclosed operator in Vietnam.

The contract was supposed to start in early June and end in late July 2020, but it has now been cancelled.

The contract includes a termination payment. The rig has now been warm-stacked.