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Noble Corp. Awarded Six Jackup Commitments in Mexico

Source: www.gulfoilandgas.com 3/10/2011, Location: North America

Noble Corporation announced that it has been awarded contracts for six of its jackup units with Pemex Exploracion y Produccion (Pemex) in Mexico. Pending execution of the contracts, the units are expected to commence operations under the following terms:

* Noble Bill Jennings: 286 days beginning mid-March 2011 at a dayrate of $99,000 - $101,000,
* Noble Leonard Jones: 272 days beginning mid-March 2011 at a dayrate of $99,000 - $101,000,
* Noble John Sandifer: 624 days beginning mid-April 2011 at a dayrate of $82,000 - $84,000,
* Noble Lewis Dugger: 588 days beginning late April 2011 at a dayrate of $82,000 - $84,000,
* Noble Gene Rosser: 248 days beginning late April 2011 at a dayrate of $79,000 - $81,000, and
* Noble Earl Frederickson: 139 days beginning late April 2011 at a dayrate of $57,000 - $59,000.

In some cases, the start dates could be accelerated to allow the contract to begin earlier than currently anticipated. In addition and as anticipated, the Company signed a contract extension on the Noble Carl Norberg for 146 days commencing in early March at a dayrate of $57,000 - $59,000.

"These long-awaited contracts are a significant step towards putting our jackup fleet back to work in Mexico," said David W. Williams, Chairman, President and Chief Executive Officer, Noble Corporation. "By late April, when these units have all commenced their contracts, we expect to have at least eight jackups generating revenue in Mexico and we believe we will have opportunities for up to four additional jackups. We expect Pemex to continue to be a core customer for Noble in the years to come."

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