(RTTNews) - Noble Corporation PLC (NE), a British offshore drilling contractor, said on Monday that it has bagged new contracts for 9 rigs comprising around $1.3 billion of backlog, including a three-year contract for the harsh environment semisubmersible Noble GreatWhite.
Robert W. Eifler, CEO of Noble, said: "Additionally, the redeployment of four currently idle deepwater rigs should drive a meaningful utilization improvement across our fleet, with 92% of our 24 marketed floaters now contracted compared to 75% in our prior fleet status report. While these programs will present incremental one-time capital expenditure requirements in 2026, we expect them to help drive significantly increased fleet EBITDA and free cash flow in future years, which will be supported by a material reduction in capital expenditure beyond 2026."
On a combined basis, Noble expects that these contract awards will entail around $50 million of contract preparation capital expenditure for 2026 in addition to the Noble GreatWhite program.
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