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U.S.-headquartered offshore drilling contractor Noble Corporation has obtained new drilling assignments and extensions across multiple geographies for six floaters in its rig fleet, including jobs in Brazil, Australia, Guyana, the U.S. Gulf, Ghana, and Malaysia.
Noble’s fleet of 24 marketed floaters was 68% contracted during the first quarter of 2026, compared with 62% in the prior quarter, with recent contract awards since last quarter adding approximately five rig years of new floater backlog.
The company claims that the latest day rate fixtures for Tier-1 drillships have increased moderately to the low-to-mid $400,000s. The utilization of the firm’s five ultra-harsh jack-ups was 66% in the first quarter versus 72% during the prior quarter.
The rig owner explains that new contracts with a total contract value of approximately $565 million have been secured after last quarter’s earnings disclosure. As a result, Noble’s backlog as of April 27, 2026, stands at $7.5 billion, excluding mobilization and demobilization revenue.
Robert W. Eifler, President and Chief Executive Officer of Noble, commented: “We commenced 2026 with solid operational and financial results. Commercial momentum remains brisk, highlighted by the Noble Courage’s three-year extension with Petrobras and the Noble Deliverer’s five-well program with Woodside.
“We remain intensely focused on project execution, with several important contract commencements scheduled over the course of this year, each of which is progressing well.”
The deal for the 2009-built Noble Courage semi-submersible rig was prolonged by Petrobras for an additional 1,115 days, extending through December 2030 for a net incremental backlog addition of $339 million. The day rate from April 2026 through December 2027 has been reduced from $290,100 to $280,000, followed by the 1,115-day extension at $309,500 per day.
The 2010-built Noble Deliverer semi-submersible was awarded a five-well contract by Woodside in Australia. The deal, valued at $121 million excluding additional services and potential upgrades, is anticipated to begin in Q2 or Q3 2027 and includes options for up to two additional wells.
The 2009-built Noble Developer semi-submersible received a one-well contract from ExxonMobil in Guyana at a day rate of $375,000. This contract is scheduled to start in early 2027 in direct continuation of the rig’s current program with Shell in the Americas and will be followed by the semi-submersible’s assignment with BP in Trinidad.
The 2014-built Noble BlackRhino drillship is staying longer in the U.S. Gulf, thanks to an option well exercised by Beacon, which commenced recently in April. The day rate has not been disclosed.
The 2014-built Noble Venturer drillship received a one-well contract with Planet One in Ghana, at a day rate of $430,000. Expected to kick off in late 2026, this deal comes with two unpriced option wells.
The 2014-built Noble Viking drillship has secured a one-well contract in Malaysia in direct continuation of the existing backlog, including the deal with TotalEnergies in Papua New Guinea.
Eifler emphasized: “With tightening floater fundamentals, the trajectory for dayrates, contract duration and earnings visibility is improving.
“We continue to anticipate a meaningful financial inflection next year supported by existing backlog and a robust bidding pipeline. Against this backdrop, Noble will continue to prioritize our leading shareholder return program.”
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