Attached files
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8-K - FORM 8-K - Noble Corp | d602257d8k.htm |
EX-99.3 - EX-99.3 - Noble Corp | d602257dex993.htm |
EX-99.1 - EX-99.1 - Noble Corp | d602257dex991.htm |
Exhibit 99.2
DAVID W. WILLIAMS CHAIRMAN, PRESIDENT AND CHIEF EXECUTIVE OFFICER |
NOBLE CORPORATION DORFSTRASSE 19A 6340 BAAR SWITZERLAND +41 41 761 65 55 |
24 September 2013
To the Noble Team:
I want to share with you some very important news about Noble. As you may already be aware, today we announced that Noble has decided to pursue a plan to separate our business into two separate and highly focused offshore drilling companies. Noble intends to create a new company to own and operate most of our standard specification drilling rigs. This entity will also provide drilling services for the Hibernia Platform. Meanwhile, Noble will continue to own and operate our higher specification assets. A list of the drilling units expected to be included in each Company is attached.
Following comprehensive deliberations and a good deal of work, we have concluded that separating into two business units makes operational, financial and strategic sense. We believe that separating our current fleet along these lines will enable each company to have a more focused business strategy, enhance growth potential and overall valuation of assets, be more responsive to the needs of customers and better attract and retain employees.
We expect the standard specification business to be separated from Noble through the distribution of the shares of the new company to Noble shareholders in a spin-off that would be tax-free to shareholders. Subject to business, market, regulatory and other considerations, the separation may be preceded by an initial public offering of up to 20 percent of the shares of the new company. We currently expect the date that the standard specification company will begin to operate as a separate company could occur as early as the second quarter of 2014.
I know this news may be unexpected, and I certainly appreciate that it may cause uncertainty about what this means for some of you personally. We will work to address these uncertainties as quickly as possible, but understandably, it will take some time. However, I believe that this transaction is best for all of our stakeholders and will provide employees with opportunities that come with being part of a more highly focused organization. For now, you should know that there will be no immediate changes in our day-to-day operations and we should all continue to do our jobs in our usual professional manner. Ultimately, we expect there to be job creation for some shore-based positions around the world to support offshore operations that are contemplated to be largely unchanged.
Until the process is completed, the most important thing all of us can do is to continue to focus on our current job priorities. Going forward, we will provide additional updates on how the separation will affect you. Again, this is a very exciting time for our Company and I thank you for your continued support and for your contributions to our success.
Keep up the good work,
David W. Williams
This letter does not constitute an offer to sell, or the solicitation of an offer to buy, any securities.
Participants in the Solicitation
Noble Corporation and its directors and officers may be deemed to be participants in the solicitation of proxies from the Companys shareholders in connection with the proposed separation of the standard specification business. Information about the directors and executive officers of Noble and their ownership of Noble shares is set forth in the definitive proxy statement for Nobles 2013 annual general meeting, which was filed with the SEC on March 11, 2013, and in any documents subsequently filed by its directors and executive officers under the Securities and Exchange Act of 1934, as amended.
Investors can obtain more information when the proxy statement relating to shareholder approval of the separation becomes available. This proxy statement, and any other documents filed by Noble with the SEC, may be obtained free of charge at the SEC web site at www.sec.gov or on the Companys website at www.noblecorp.com. Investors should read the proxy statement carefully, when it becomes available, before making any voting decision because it will contain important information.
Units to be Owned and Managed by the Standard Specification Company
Jackups (34)
Name |
Location | Water Depth1 | ||||||||
Noble Bill Jennings |
Mexico | 390 | ||||||||
Noble Eddie Paul |
Mexico | 390 | ||||||||
Noble Julie Robertson |
UK | 390 | 2 | |||||||
Noble Leonard Jones |
Mexico | 390 | ||||||||
Noble Al White |
Netherlands | 360 | ||||||||
Noble Roy Rhodes |
UAE | 328 | ||||||||
Noble Byron Welliver |
UK | 300 | ||||||||
Noble Charlie Yester |
India | 300 | ||||||||
Noble Ed Holt |
India | 300 | ||||||||
Noble Gene Rosser |
Mexico | 300 | ||||||||
Noble George McLeod |
Malaysia | 300 | ||||||||
Noble Gus Androes |
Qatar | 300 | ||||||||
Noble Harvey Duhaney |
Qatar | 300 | ||||||||
Noble Jimmy Puckett |
Qatar | 300 | ||||||||
Noble John Sandifer |
Mexico | 300 | ||||||||
Noble Johnnie Hoffman |
Mexico | 300 | ||||||||
Noble Kenneth Delaney |
India | 300 | ||||||||
Noble Percy Johns |
Nigeria | 300 | ||||||||
Noble Roy Butler |
Mexico | 300 | ||||||||
Noble Sam Noble |
Mexico | 300 | ||||||||
Noble Tommy Craighead |
Benin | 300 | ||||||||
Noble Carl Norberg |
Mexico | 250 | ||||||||
Noble Chuck Syring |
Qatar | 250 | ||||||||
Noble Earl Fredrickson |
Mexico | 250 | ||||||||
Noble Ed Noble |
Nigeria | 250 | ||||||||
Noble George Sauvageau |
UK | 250 | ||||||||
Noble Lloyd Noble |
Cameroon | 250 | ||||||||
Noble Tom Jobe |
Mexico | 250 | ||||||||
Noble Lynda Bossler |
Netherlands | 250 | ||||||||
Noble Piet van Ede |
Netherlands | 250 | ||||||||
Noble Ronald Hoope |
Netherlands | 250 | ||||||||
Dhabi II |
Abu Dhabi | 150 | ||||||||
Noble Dick Favor |
UAE | 150 | ||||||||
Noble Don Walker |
Cameroon | 150 |
1) | Operating design water depth (in feet) |
2) | Leg extensions fabricated to enable the rig to operate in up to 390 of water in a non-harsh environment |
Units to be Owned and Managed by the Standard Specification Company
(Continued)
Floaters (8)
Name |
Location | Water Depth1 | ||||||||
Noble Roger Eason |
Brazil | 7,200 | ||||||||
Noble Leo Segerius |
Brazil | 5,600 | ||||||||
Noble Phoenix |
Brazil | 5,000 | ||||||||
Noble Muravlenko |
USA | 4,900 | ||||||||
Noble Lorris Bouzigard |
USA | 4,000 | ||||||||
Noble Therald Martin |
Brazil | 4,000 | ||||||||
Noble Duchess |
India | 1,500 | ||||||||
Noble Ton van Langeveld |
UK | 1,500 |
Other Assets (4)
Name |
Location | Water Depth1 | ||||||||
Noble Joe Alford |
USA | 70 | ||||||||
Noble Lester Pettus |
USA | 70 | ||||||||
Noble Seillean (FPSO) |
USA | 6,500 | ||||||||
Hibernia Platform (labor contract) |
Canada | N/A |
Units to be Owned and Managed by Noble
Jackups (15)
Name |
Location | Water Depth1 | ||||||||
Mariner CJ70 (To Be Named) |
Singapore3 | 500 | ||||||||
Noble Regina Allen |
Singapore3 | 400 | ||||||||
Noble Mick OBrien |
UAE | 400 | ||||||||
Noble Houston Colbert |
Singapore3 | 400 | ||||||||
Noble Sam Turner |
Singapore3 | 400 | ||||||||
Noble Tom Prosser |
Singapore3 | 400 | ||||||||
Noble Sam Hartley |
Singapore3 | 400 | ||||||||
Noble Roger Lewis |
Saudi Arabia | 400 | ||||||||
Noble Scott Marks |
Saudi Arabia | 400 | ||||||||
Noble Hans Deul |
UK | 400 | ||||||||
Noble Gene House |
Saudi Arabia | 300 | ||||||||
Noble Joe Beall |
Saudi Arabia | 300 | ||||||||
Noble Charles Copeland |
Saudi Arabia | 280 | ||||||||
Noble Alan Hay |
UAE | 300 | ||||||||
Noble David Tinsley |
UAE | 300 |
Floaters (20)
Name |
Location | Water Depth1 | ||||||||
Noble Danny Adkins |
USA | 12,000 | ||||||||
Noble Jim Day |
USA | 12,000 | ||||||||
Noble Bob Douglas |
South Korea3 | 12,000 | ||||||||
Noble Bully I2 |
USA | 8,200 | ||||||||
Noble Bully II2 |
Brazil | 10,000 | ||||||||
Noble Clyde Boudreaux |
Australia | 10,000 | ||||||||
Noble Dave Beard |
Brazil | 10,000 | ||||||||
Noble Don Taylor |
USA | 12,000 | ||||||||
Noble Globetrotter I |
USA | 10,000 | ||||||||
Noble Globetrotter II |
Benin | 10,000 | ||||||||
Noble Sam Croft |
South Korea3 | 12,000 | ||||||||
Noble Tom Madden |
South Korea3 | 12,000 | ||||||||
Noble Paul Wolff |
Brazil | 9,200 | ||||||||
Noble Amos Runner |
USA | 8,000 | ||||||||
Noble Homer Ferrington |
Malta | 7,200 | ||||||||
Noble Max Smith |
Brazil | 7,000 | ||||||||
Noble Jim Thompson |
USA | 6,000 | ||||||||
Noble Paul Romano |
Malta | 6,000 | ||||||||
Noble Driller |
USA | 5,000 | ||||||||
Noble Discoverer |
South Korea | 1,000 |
3) | Under Construction |
4) | Joint Venture with a subsidiary of Shell where each party has an equal 50 percent ownership stake in the vessel |