SUGAR LAND, Texas, Sept. 2, 2021 /PRNewswire/ -- Noble
Corporation (NYSE: NE, "Noble" or the "Company") today provided an
update on the Noble Globetrotter II ultra-deepwater
drillship and the personnel onboard. As previously reported,
the vessel encountered severe weather during Hurricane Ida.
Noble management is in frequent communication with the ship's crew
and is working to facilitate additional transport for some crew
members to shore, as may be needed, as well as replacement
personnel to support marine operations. A small number of
crew members were treated for minor injuries. The living
quarters of the vessel continue to operate normally with food
service, climate-control, water, power, and internet systems
functional. The vessel's helideck is fully operational and
teams are working through logistical challenges across the Gulf
Coast region to resume normal levels of transportation to and from
shore.
Initial findings from the ship's ongoing condition assessment
confirm that several riser joints and the lower marine riser
package separated from the rig during the storm and sank to the
seabed. Efforts are underway to locate and recover that
equipment, and the Company believes that, if necessary, it can
replace any missing or damaged equipment promptly.
Additionally, one of the ship's cofferdams in the moonpool area
sustained damage during the weather event. The damaged
cofferdam does not compromise the stability or structural integrity
of the rig nor the safety of personnel onboard. The vessel
successfully secured the well and detached from the blowout
preventer in place on the well as part of its departure
procedures.
Noble provided a force majeure notice to its customer in
accordance with the governing drilling services contract. The
contract does not contain a right of termination for force
majeure. The Company does not expect any impact to its
previously issued preliminary 2022 financial guidance and, at this
time, is unable to estimate the impact on its 2021 guidance.
Noble has insurance coverage for property damage with a
$10 million deductible.
Noble holds the safety of everyone aboard our vessels as the
highest priority. We will continue to work closely with the
Noble Globetrotter II's personnel and their families to
provide all necessary support as we all recover from the aftermath
of Hurricane Ida.
About Noble Corporation
Noble is a leading offshore drilling contractor for the oil and
gas industry. The Company owns and operates one of the most
modern, versatile, and technically advanced fleets in the offshore
drilling industry. Noble and its predecessors have been
engaged in the contract drilling of oil and gas wells since
1921. Currently, Noble performs, through its subsidiaries,
contract drilling services with a fleet of 24 offshore drilling
units, consisting of 12 drillships and semisubmersibles and 12
jackups (including the four that are subject to an agreement to
sell to ADES), focused largely on ultra-deepwater and
high-specification jackup drilling opportunities in both
established and emerging regions worldwide. Noble is an
exempted company incorporated in the Cayman Islands with limited liability with
registered office at P.O. BOX 309, Ugland House, S. Church Street,
Grand Cayman, KY1-1104.
Additional information on Noble is available at
www.noblecorp.com.
Forward-looking Disclosure Statement
This communication includes "forward-looking statements" within
the meaning of Section 27A of the Securities Act and Section
21E of the Exchange Act. All statements other than statements
of historical facts included in this communication, including those
regarding the effect of the storm, condition and repair of the
Noble Globetrotter II, transportation to and from the
vessel, impact on the drilling contract for the vessel, equipment
retrieval, repair and replacement, impact on 2021 and 2022
guidance, other financial impact, and condition of the crew are
forward-looking statements. When used in this report, or in
the documents incorporated by reference, the words "anticipate,"
"assume," "believe," "could," "estimate," "expect," "intend,"
"may," "might," "plan," "project," "should," "shall" and "will" and
similar expressions are intended to be among the statements that
identify forward-looking statements. Although we believe that
the expectations reflected in such forward-looking statements are
reasonable, we cannot assure you that such expectations will prove
to be correct. These forward-looking statements speak only as
of the date of this communication and we undertake no obligation to
revise or update any forward-looking statement for any reason,
except as required by law. We have identified factors,
including, but not limited to, uncertainties regarding availability
of repair facilities, current limited knowledge of the condition of
the rig, potential undiscovered or unreported personal injuries,
availability and performance of repair facilities, actions by our
customer, regulatory authorities and other third parties,
uncertainties relating to our emergence from bankruptcy, the
effects of public health threats, pandemics and epidemics, such as
the ongoing outbreak of COVID-19, and the adverse impact thereof on
our business, financial condition and results of operations
(including but not limited to our growth, operating costs, supply
chain, availability of labor, logistical capabilities, customer
demand for our services and industry demand generally, our
liquidity, the price of our securities and trading markets with
respect thereto, our ability to access capital markets, and the
global economy and financial markets generally), the effects of
actions by, or disputes among OPEC+ members with respect to
production levels or other matters related to the price of oil,
market conditions, factors affecting the level of activity in the
oil and gas industry, supply and demand of drilling rigs, factors
affecting the duration of contracts, the actual amount of downtime,
factors that reduce applicable dayrates, reset of dayrates under
the commercial enabling agreement with our client for rigs
operating in Guyana, operating
hazards and delays, risks associated with operations outside the
US, actions by regulatory authorities, credit rating agencies,
customers, joint venture partners, contractors, lenders and other
third parties, legislation and regulations affecting drilling
operations, compliance with regulatory requirements, violations of
anti-corruption laws, shipyard risk and timing, delays in
mobilization of rigs, hurricanes and other weather conditions, and
the future price of oil and gas, that could cause actual plans or
results to differ materially from those included in any
forward-looking statements. These factors include those "Risk
Factors" referenced or described in the Company's most recent Form
10-K, Form 10-Q's, and other filings with the Commission. We
cannot control such risk factors and other uncertainties, and in
many cases, we cannot predict the risks and uncertainties that
could cause our actual results to differ materially from those
indicated by the forward-looking statements. You should
consider these risks and uncertainties when you are evaluating
us.
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SOURCE Noble Corporation
