News Release
Noble grabs first mover advantage as offshore rig market consolidation begins, says Wood Mackenzie
Addressing Noble Corp’s acquisition of Diamond Offshore in a US$600 million stock plus cash transaction, Leslie Cook, principal analyst of upstream supply chain for Wood Mackenzie said, “We have been predicting offshore rig market consolidation for some time and with little appetite from owners to add new rigs as rig demand is flattening out, we believed growth would be inorganic. It therefore comes as little surprise that the first major deal in the upstream service sector has been announced. Noble has grabbed first mover advantage, and solidified is status in the top two offshore rig contractors.”
