Transocean Announces Settlement and License Agreement with Noble

Transocean Inc. (NYSE:RIG) today announced that one of its subsidiaries has entered into a settlement and license agreement with Noble Corporation (NYSE:NE). In the agreement, the Transocean subsidiary granted to Noble a worldwide and non-exclusive license to utilize Transocean’s patents for offshore dual activity drilling methods and structures on the semisubmersible rig Noble Clyde Boudreaux which is currently working in the U.S. Gulf of Mexico.