London-based Noble Corp is reported to be continuing its expansion drive with a move to buy assets from restructuring Seadrill.

Unnamed sources told UK-based business intelligence firm Reorg that a bid has gone in to acquire a "substantial" portion of the John Fredriksen-backed drillship and rig company's fleet.

Seadrill is undergoing its second Chapter 11 reorganisation in the US within three years, while Noble emerged from its own Chapter 11 process in February.