en.Wedoany.com Reported - Maersk Drilling and Noble Drilling have completed their merger, with the new company retaining the Noble name and relocating its headquarters to Houston, USA, thereby becoming the world's third-largest drilling rig owner. Maersk is headquartered in Denmark.
The combined Noble now operates 39 drilling rigs, ranking behind only China Oilfield Services Limited (COSL) and Valaris, and ahead of Transocean. The synergies generated by this integration align with the latest environmental trends. Maersk previously announced a climate target to reduce carbon dioxide emissions from drilling operations by 50% by 2030, and has already installed relevant equipment and taken corresponding measures on at least five of its drilling rigs.
By rig type, the combined fleet includes 15 drillships with an average age of 8.1 years, with only one vessel exceeding 10 years of age. Two of these are in cold stacking, which are also the only rigs without contracts or future work commitments. Among the 13 contracted drillships, five have contracts expiring in the first half of next year, with only two having options to work into 2022 or later. The current average dayrate for the fleet is approximately $223,776, with only one vessel having a dayrate below $200,000. Among the top four drillship management companies, the combined fleet will have the second-largest fleet size and the second-highest utilization rate. A comparison of average dayrates among the four companies shows that Transocean's average dayrate is far ahead, benefiting from several contract rates still in the 2011-2013 contracting period.
The semi-submersible fleet consists of five rigs, four from Maersk and one from Noble. One of these is in cold stacking, while the remaining four are contracted. The Noble Clyde Boudreaux is scheduled to complete its current contract this month, with a follow-up agreement expected to be signed shortly. The earliest availability for Maersk's remaining four rigs is July 2022. The average age of this fleet is 17.7 years, inflated by the 34-year-old Noble Clyde Boudreaux, which also lowers the fleet's average dayrate. The known average current dayrate for three of the four rigs is $212,662, including the Boudreaux's current dayrate of $117,000. Among semi-submersible management companies, the Maersk and Noble combination ranks relatively low, but has the highest utilization rate among peers. Although this segment of the fleet receives less attention, there are two contracts with dayrates exceeding $200,000 in Australia and Suriname (with another Suriname contract amount unknown), and a contract for the Noble Clyde Boudreaux in Southeast Asia is expected to be signed soon, with a dayrate likely to increase significantly.
The jack-up fleet comprises 19 rigs, 11 from Maersk and eight from Noble. As of the time of writing, the fleet's utilization rate is 79%, with four idle rigs (none in cold stacking), three of which only became idle last month. One rig currently in the North Sea is rumored to be in line for a contract in the Middle East. Among the 15 contracted rigs, two will complete their contracts this year, while five others have contract terms extending into the fourth quarter of 2022 or later. The average current dayrate for harsh-environment rigs is $311,000, while the known average current dayrate for the remaining rigs is approximately $96,000. The average age of this fleet is 9.5 years, although seven rigs are 12 years or older.
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