M&A Deal Summary

Noble Acquires Diamond Offshore

On June 10, 2024, Noble acquired energy services and equipment company Diamond Offshore for 1.6B USD

Acquisition Highlights
  • This is Noble’s 2nd transaction in the Energy Services and Equipment sector.
  • This is Noble’s 2nd largest (disclosed) transaction.
  • This is Noble’s 3rd transaction in the United States.
  • This is Noble’s 3rd transaction in Texas.

M&A Deal Summary

Date 2024-06-10
Target Diamond Offshore
Sector Energy Services and Equipment
Buyer(s) Noble
Deal Type Add-on Acquisition
Deal Value 1.6B USD
Advisor(s) Guggenheim Securities (Financial)
Kirkland & Ellis (Legal)

Target

Diamond Offshore

Houston, Texas, United States
Entrance to Diamond Offshore's corporate headquarters in Houston, Texas.
Entrance to Diamond Offshore's corporate headquarters in Houston, Texas.
Diamond Offshore is an offshore drilling company that provides contract drilling services to the energy industry via offshore drilling rigs, semisubmersibles, dynamically positioned drillships, and jack-ups. Diamond Offshore was incorporated in 1953 and is based in Houston, Texas.

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Buyer(S) 1

Buyer

Noble

Houston, Texas, United States

Category Company
Founded 1921
Sector Energy Services and Equipment
Employees5,000
Revenue 3.1B USD (2024)
DESCRIPTION

Noble is an offshore drilling contractor for the oil and gas industry. Noble performs, through its subsidiaries, contract drilling services with a fleet of 77 offshore drilling units (including two ultra-deepwater drillships and four high-specification jackup drilling rigs currently under construction), located worldwide, including in the U.S. Gulf of Mexico and Alaska, Mexico, Brazil, the North Sea, the Mediterranean, West Africa, the Middle East, India, Malaysia, and Australia. Noble was founded in 1921 and is based in Houston, Texas.


DEAL STATS #
Overall 3 of 3
Sector: Energy Services and Equipment M&A 2 of 2
Type: Add-on Acquisition M&A Deals 2 of 2
State: Texas M&A 3 of 3
Country: United States M&A 3 of 3
Year: 2024 M&A 1 of 1
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-25 Pacific Drilling

Houston, Texas, United States

Pacific Drilling is an offshore drilling contractor for the oil and gas industry. Pacific Drilling's fleet of seven drillships represents one of the youngest and most technologically advanced fleets in the world. Pacific Drilling was founded in 2008 and is based in Houston, Texas.

Buy $30M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-12-08 Noble - Jack-Up Rigs

Bermuda

Noble's Jack-Up Rigs, consisting of three Friede & Goldman JU-3000N design rigs and two Gusto MSC CJ50 design rigs, are based in Bermuda.

Sell $360M