Guyana has emerged as the most active location for Noble Corporation’s floater rigs, with four high-specification drillships operating exclusively in the ExxonMobil-operated Stabroek Block.
According to Noble’s latest fleet status report, the Sam Croft, Bob Douglas, Tom Madden, and Don Taylor are contracted through August 2028, accounting for the densest deployment of floaters in the company’s global portfolio.
All four drillships were constructed by Hyundai Heavy Industries and share the Gusto P10000 design, enabling them to operate in ultra-deepwater environments with water depth capabilities of up to 12,000 feet and drilling depth of 40,000 feet. The vessels are classified under DNV, equipped with advanced dynamic positioning systems (DYNPOS-AUTR), and flagged in Liberia.
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Built in 2014, Sam Croft and Tom Madden each support 210 personnel, with a fuel storage capacity of 42,848 barrels and bulk storage of 14,690 cubic feet. They also feature moonpools sized at 115 ft by 41 ft and can handle hook loads of 2,500 kips on the main hoist.
Their slightly older counterparts, Bob Douglas and Don Taylor, built in 2013, boast even greater storage capabilities. Bob Douglas leads the fleet with 28,812 cubic feet of bulk storage, while Don Taylor carries 14,691 cubic feet and a higher fuel storage capacity of 44,544 barrels. All four rigs are optimized for long-term drilling operations and are central to ExxonMobil’s ongoing production and development activities offshore Guyana.
Despite the strength of its Guyana operations, Noble reported a mixed financial performance in the second quarter of 2025. Contract drilling services revenue declined to US$812 million, down from US$832 million in the previous quarter, with marketed fleet utilization falling to 70% from 78%. The company cited lower rig utilization as the primary driver behind the downturn.
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Costs for contract drilling services rose to US$502 million, while net income fell to US$43 million from US$108 million in the prior quarter. Adjusted EBITDA dropped to US$282 million, and free cash flow stood at US$107 million, following capital expenditures of US$117 million. Net cash from operations totaled US$216 million.
Noble’s global floater fleet of 25 units was 75% contracted during the quarter, compared to 80% previously. Recent backlog additions added approximately three rig years, bringing the total backlog increase in 2025 to over 18 rig years.
Meanwhile, new fixtures for Tier-1 drillships landed in the low to mid US$400,000s, with sixth-generation units averaging rates in the low US$300,000s to mid US$400,000s.
