Noble Wins Contracts for Two New Drillships

Noble Corporation today entered into two three-year term drilling contracts with Plains Exploration & Production Company for the Noble Sam Croft and the Noble Tom Madden, two of Noble’s new ultra-deepwater drillships currently under construction at the Hyundai Heavy Industries Co. Ltd. (HHI) shipyard in Ulsan, South Korea.

The drillships, which are being constructed on a fixed price basis, are expected to be utilized for operations primarily in the U.S. Gulf of Mexico under these contracts.

The Noble Sam Croft is expected to be delivered in the second quarter of 2014, followed closely by the Noble Tom Madden, which is expected to be delivered in second half of 2014. The Noble Sam Croft and the Noble Tom Madden are two of the four ultra-deepwater drillships being constructed for Noble by HHI.

All four drillships are based on a Hyundai Gusto P10000 hull design, capable of operations in water depths of up to 12,000 feet and offering a variable deck load of 20,000 metric tons. The Noble Sam Croft and Noble Tom Madden will be fully equipped to operate in up to 10,000 feet of water while offering DP-3 station keeping, two complete six-ram BOP systems, multiple parallel activity features that improve overall well construction efficiencies and accommodations for up to 210 personnel.

Both rigs also will also be equipped with a 165-ton heave compensated construction cranes to facilitate deployment of subsea production equipment, providing another level of efficiency during field development programs.

With the award of contracts for these two units, all four ultra-deepwater drillships under construction for Noble at HHI are now under contract.

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Press Release, April 18, 2013