SUGAR
LAND, Texas, Aug. 30,
2024 /PRNewswire/ -- Noble Corporation plc ("Noble")
(CSE: NOBLE, NYSE: NE) and Diamond Offshore Drilling, Inc.
("Diamond Offshore") (NYSE: DO) announced today the receipt of
clearance from the Australia Competition & Consumer Commission,
in relation to the pending transaction between Noble and Diamond
Offshore, which is the final required regulatory approval for the
transaction. The parties expect to close the transaction on
Wednesday September 4th,
2024.
About Noble Corporation plc
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. Noble
performs, through its subsidiaries, contract drilling services with
a fleet of offshore drilling units focused largely on
ultra-deepwater and high specification jackup drilling
opportunities in both established and emerging regions
worldwide. For further information visit www.noblecorp.com or
email investors@noblecorp.com.
About Diamond Offshore Drilling, Inc.
Diamond Offshore
is a leader in offshore drilling, providing innovation, thought
leadership and contract drilling services to solve complex
deepwater challenges around the globe. Additional information and
access to the Company's SEC filings are available at
http://www.diamondoffshore.com.
Forward-Looking Statements
This communication includes
"forward-looking statements" within the meaning of U.S. federal
securities laws, including Section 27A of the Securities Act of
1933, as amended and Section 21E of the Securities Exchange Act, of
1934, as amended. You can identify these statements and other
forward-looking statements in this document by words such as
"expects," "continue," "focus," "intends," "anticipates," "plans,"
"targets," "poised," "advances," "drives," "aims," "forecasts,"
"believes," "approaches," "seeks," "schedules," "estimates,"
"positions," "pursues," "progress," "may," "can," "could,"
"should," "will," "budgets," "possible," "outlook," "trends,"
"guidance," "commits," "on track," "objectives," "goals,"
"projects," "strategies," "opportunities," "potential,"
"ambitions," "aspires" and similar expressions, and variations or
negatives of these words, but not all forward-looking statements
include such words. Forward-looking statements by their nature
address matters that are, to different degrees, uncertain, such as
statements about the consummation of the pending transaction
between Noble and Diamond Offshore (the "Transaction"), including
the expected time period to consummate the Transaction. All such
forward-looking statements are based upon current plans, estimates,
expectations and ambitions that are subject to risks, uncertainties
and assumptions, many of which are beyond the control of Noble and
Diamond Offshore, that could cause actual results to differ
materially from those expressed in such forward-looking statements.
Key factors that could cause actual results to differ materially
include, but are not limited to the risk that uncertainties as to
whether the Transaction will be consummated on the anticipated
timing or at all, or if consummated, will achieve its anticipated
economic benefits; Noble's ability to integrate Diamond Offshore's
operations in a successful manner and in the expected time period;
the possibility that any of the anticipated benefits and projected
synergies of the Transaction will not be realized or will not be
realized within the expected time period; the occurrence of any
event, change or other circumstance that could give rise to the
termination of the merger agreement; risks that the anticipated tax
treatment of the Transaction is not obtained; unforeseen or unknown
liabilities; customer and other stakeholder approvals and support;
unexpected future capital expenditures; potential litigation
relating to the Transaction that could be instituted against Noble
or Diamond Offshore or their respective directors; the possibility
that the Transaction may be more expensive to complete than
anticipated, including as a result of unexpected factors or events;
the effect of the pendency or completion of Transaction on the
parties' business relationships and business generally; risks that
the Transaction disrupts current plans and operations of Noble or
Diamond Offshore, as well as the risk of disruption of Noble's or
Diamond Offshore's management and business disruption during the
pendency of, or following, the Transaction; changes in commodity
prices; negative effects of the announcement of the Transaction,
and the pendency or completion of the Transaction on the market
price of Noble's or Diamond Offshore's common stock and/or
operating results; rating agency actions and Noble's and Diamond
Offshore's ability to access debt markets on a timely and
affordable basis; decline in the price of oil or gas, reduced
demand for oil and gas products and increased regulation of
drilling and production, price competition and cyclicality in the
offshore drilling industry, offshore rig supply, dayrates and
demand for rigs, contract duration, renewal, terminations and
repricing, national oil companies and governmental clients,
contract backlog, customer and geographic concentration,
operational hazards and risks, labor force unionization, labor
interruptions and labor regulations, major natural disasters,
catastrophic event, acts of war, terrorism or social unrest,
pandemic, or other similar event, joint ventures as well as
investments in associates, international operations and related
mobilization and demobilization of rigs, operational interruptions,
delays, upgrades, refurbishment and repair of rigs and any related
delays and cost overruns or reduced payment of dayrates, impacts of
inflation, renewal of insurance, protection of sensitive
information, operational technology systems and critical data, the
ability to attract and retain skilled personnel or the increased
cost in doing so, supplier capacity constraints or shortages in
parts or equipment, supplier production disruptions, supplier
quality and sourcing issues or price increases, future mergers,
acquisitions or dispositions of businesses or assets or other
strategic transactions, hurricanes and windstorm damage, responding
to energy rebalancing, non-performance of suppliers or third-party
subcontractors, increasing attention to environmental, social and
governance matters, including climate change; the effects of
industry, market, economic, political conditions outside of Noble's
or Diamond Offshore's control; and the risks described in Part I,
Item 1A "Risk Factors" of (i) Noble's Annual Report on Form 10-K
for the year ended December 31, 2023
and (ii) Diamond Offshore's Annual Report on Form 10-K for the year
ended December 31, 2023, and, in each
case, in subsequent filings with the U.S. Securities and Exchange
Commission ("SEC"). Other unpredictable or factors not discussed in
this communication could also have material adverse effects on
forward-looking statements. Neither Noble nor Diamond Offshore
assumes an obligation to update any forward-looking statements,
except as required by law. You are cautioned not to place undue
reliance on any of these forward-looking statements as they are not
guarantees of future performance or outcomes and that actual
performance and outcomes. These forward-looking statements speak
only as of the date hereof. With respect to our capital allocation
policy, distributions to shareholders in the form of either
dividends or share buybacks are subject to the Board of Directors'
assessment of factors such as business development, growth
strategy, current leverage and financing needs. There can be no
assurance that a dividend will be declared or continued.
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SOURCE Noble Corporation plc; Diamond Offshore Drilling,
Inc.