Noble Acquires Diamond Offshore Drilling

(RTTNews) - Noble Corp. Plc. (NE), Wednesday announced the acquisition of Diamond Offshore Drilling, Inc. (DO), adding approximately $2 billion of backlog.

For the transaction, Noble issued about 24.2 million class A ordinary shares of the company to former shareholders of Diamond, bringing the total outstanding shares to approximately 167.3 million.

The company noted that following the completion of the acquisition, investors should not rely on Noble's previously issued financial outlook for the fiscal year 2024.

Also, Noble appointed Patrice Douglas from the Diamond board of directors to serve as a new director of the company.

Moreover, the U.S.-based company updated the addition of 4.8 rig years of backlog recently awarded under the Commercial Enabling Agreement with ExxonMobil for operations in Guyana, driving Noble's current backlog to $6.7 billion.

Currently, Noble Corp.'s stock is trading at $36.55, up 1.36 percent on the New York Stock Exchange.