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8-K - FORM 8-K - Noble Corpd602257d8k.htm
EX-99.3 - EX-99.3 - Noble Corpd602257dex993.htm
EX-99.1 - EX-99.1 - Noble Corpd602257dex991.htm

Exhibit 99.2

 

LOGO

 

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,

 

LOGO

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 Company’s 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 Noble’s 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 Company’s 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 O’Brien

   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