Noble Corp has splashed out $2.16bn in an all-cash deal to take over Frontier Drilling.
The Swiss firm has also tied up a number of long-term charter deals with oil major Shell related to the take over.
Noble’s agreement with FDR Holdings will see it bag five drillships, one semisubmersible drilling rig and a floating production storage and offloading (FPSO) unit.
NYSE-quoted Noble said it will use a combination of company cash and an $800m bridge credit facility with the deal set to be pushed through by the end of July.
“As
