Noble Corp reported on Friday some new work for a deepwater rig and two shallow-water jackup rigs, giving its stock some support on a down day for the oilfield services sector.
Marathon Oil Corp will keep the Paul Romano deepwater rig in the US Gulf of Mexico until July 16, 2010, for a day-rate of $374,000 to $376,000, Noble said in its latest fleet status update. The price is $107,000 lower than the rate in the current contract which ends in February, it noted.
One Noble jackup rig, the Ed Holt, is spending about a month in the shipyard in India for upgrades and inspection before starting in January a five-year contract with Jindal Drilling & Industries Ltd through a deal with Oil & Natural Gas Corp Ltd, at $58,000 to $60,000 per day.
And in the Middle East, another jackup, the Cees van Diemen, has moved out of the shipyard to provide accommodation for workers off Qatar until March 10 next year, at a rate of $52,000 to $54,000 per day.
While deepwater rig demand has remained steady due to their relative scarcity, demand for jackup rigs that stand on legs on the sea floor and drill in shallow waters collapsed in the past year along with energy prices. But drilling executives have seen signs of more jackup interest in some parts of the world.
Noble shares, after closing at their lowest for almost two months on Thursday, were 0.1% higher at $39.82 at mid-afternoon after hitting a high of $41.49. On the other hand, the Philadelphia Stock Exchange oil service index was down 1% as oil prices slid.
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