Noble buys Shell’s interest in two drillship JVs as Shell exits drilling contract

As reported in late October, Noble started discussions with Shell to receive payout of the Noble Bully II contract and to acquire Shell’s interest in the Bully I and Bully II joint ventures.

In an SEC filing on Tuesday, Noble said it had completed the previously disclosed transaction with Shell relating to the two joint ventures in which Noble and Shell each held a fifty percent interest.

In such transaction, Shell bought out the remaining term of its drilling contract for the drillship Noble Bully II, and Noble acquired Shell’s interests in the Bully I and Bully II joint ventures.

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