Noble Corporation plc (NYSE: NE) said on Wednesday that it had finalized its acquisition of Diamond Offshore Drilling Inc.
The deal enhances Noble’s position as a leading offshore driller and creates the largest fleet of 7th generation dual-BOP drillships within the industry.
“We are excited to close this highly strategic and accretive transaction ahead of schedule and commence our integration activities. On behalf of Noble’s board of directors and employees, I would like to welcome the Diamond organization onboard and look forward to our exciting journey ahead as a combined team,” Robert W. Eifler, President and Chief Executive Officer of Noble Corp, said in a press release.
“This combination marks a crucial next step in Noble’s 7G deepwater leadership strategy. We are excited to bring Diamond’s exceptional team and fleet on to the Noble platform and look forward to delivering valuable synergies for all stakeholders through the integration of these two great companies,” Charles M. Sledge, Noble’s Chairman of the Board of Directors, commented.
Stock Performance
The shares of Noble Corporation plc (NE) closed 2.41% ($0.87) lower at $35.19 in New York on Wednesday, as they extended the loss from the previous market session.
It has been the lowest closing price for the stock since December 19th 2022.
The company’s total market cap now stands at $5.034 billion.
The shares of Noble Corporation plc (NE) went up 27.71% in 2023, compared with a 10.99% gain for the benchmark index, NYSE Composite (NYA).
The company’s shares have retreated 26.93% so far this year.
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