Noble Corporation announced it has completed the sale of four jackup rigs to a subsidiary of ADES International Holding Ltd. ("ADES"). The Company expects to generate approximately $285 million in cash from the transaction net of fees, expenses, and the settlement of working capital. Ownership of the Noble Roger Lewis, Noble Scott Marks, Noble Joe Knight, and Noble Johnny Whitstine as well as employment of the crews has been transferred and the drilling contracts have been novated to ADES. Noble will continue to provide certain customary transition support services for a limited period of time.

"We are very pleased to have completed this transaction, which further bolsters our already strong balance sheet, is accretive to our shareholders, and supports our sustainable return of capital strategy." said Robert Eifler, President and CEO of Noble Corporation.
Mr. Eifler continued, "Our crews in the Kingdom have delivered excellent safety and operating performance for many years. I would personally like to thank the Noble employees who will transfer to ADES for their professionalism and dedicated service and wish them continued success."

About Noble Corporation

Noble (NYSE: NE) is a leading offshore drilling contractor for the oil and gas industry. The Company owns and operates one of the most modern, versatile, and technically advanced fleets in the offshore drilling industry. Noble and its predecessors have been engaged in the contract drilling of oil and gas wells since 1921. Currently, Noble performs, through its subsidiaries, contract drilling services with a fleet of 20 offshore drilling units, consisting of 12 drillships and semisubmersibles and 8 jackups, focused largely on ultra-deepwater and high specification jackup drilling opportunities in both established and emerging regions worldwide. Noble is an exempted company incorporated in the Cayman Islands with limited liability with registered office at P.O. BOX 309, Ugland House, S. Church Street, Grand Cayman, KY1-1104.

About ADES International Holding plc

ADES International Holding plc extends oil and gas drilling and production services through its subsidiaries and is a leading service provider in the Middle East and North Africa, offering onshore and offshore contract drilling as well as workover and production services. Its c.3,500 employees serve clients including major national oil companies ("NOCs") such as Saudi Aramco and Kuwait Oil Company as well as joint ventures of NOCs with global majors including BP and Eni. While maintaining a superior health, safety and environmental record, the Group currently has a fleet of thirty-six onshore drilling rigs, thirteen jack-up offshore drilling rigs, a jack-up barge, and a mobile offshore production unit ("MOPU"), which includes a floating storage and offloading unit.