Offshore drilling company Noble Corp. files for bankruptcy - Panorama Insurance Brokers

Offshore drilling company Noble Corp. files for bankruptcy

Noble Corporation plc announced on Friday that it has entered into a restructuring support agreement with two ad hoc groups of the largest holders of the Company’s outstanding bond debt regarding a consensual financial restructuring transaction that will significantly deleverage the Company’s balance sheet and position the Company for long term growth.

Noble announced in February that it had reached a unique commercial agreement with ExxonMobil covering drilling services in Guyana where it has been active since March 2018. The agreement defines contract drilling terms for the services of three of Noble’s ultra-deepwater drillships. OilNOW understands that the move by Noble to file for bankruptcy is not likely to have an impact on its operations offshore the South American country.

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