Noble Shines Bright, Like a Diamond.

Noble acquires Diamond Offshore for $1.6B. Highlights: Brent crude to $86, pipeline market grows, hedge funds sell.

Author

Rob Quigley
June 11, 2024

by VSO Petroleum Consultants. Oil and Gas industry news for those in the deal flow (Investors and A&D Professionals). Your daily source for the latest A&D/M&A news, industry news, and expert interviews.

First Things First:

Noble Corporation plc is set to acquire Diamond Offshore Drilling Inc. in a $1.6 billion deal, shaking up the offshore drilling market.

Noble to Buy Rig Rival Diamond Offshore in $1.6 Billion Deal

The deal comes as offshore drilling is poised to boom in the years ahead as growth in US shale basins ebbs. 

https://www.bloomberg.com/news/articles/2024-06-10/noble-to-buy-rival-driller-diamond-offshore-in-1-6-billion-deal?srnd=phx-deals

Goldman expects oil demand to lift Brent crude to $86 EconomicTimes .

Offshore oil and gas pipeline market expected to grow by $4.2b due to increased demand PRNewswire.

Hedge funds surprisingly record significant oil sales, impacting market dynamics Oilandgas360.

VSO is the go-to consulting firm for buy-side technical due diligence. We can handle all your technical evaluations or can be your spare capacity when you need overflow help. If you’re in the deal flow, let’s work together.

Daily Headlines

  • Jet fuel demand is soaring, pushing oil prices higher globally OilPrice.com. 

  • Russian oil and gas revenues surged by 735% in January-May, driven by increased exports OilPrice.com . 

  • Texas oil and gas revenues surged by 73% in January-May, driven by increased production OilPrice.com .

  • Goldman expects oil demand to lift Brent crude to $86 EconomicTimes.

  • Hedge funds surprisingly record significant oil sales, impacting market dynamics Oilandgas360.

  • Offshore oil and gas pipeline market expected to grow by $4.2b due to increased demand PRNewswire.

  • Europe shifts from Russian gas to pricier LNG, affecting global gas prices OilPrice.com.

  • Mixed performance in the US oil and gas industry with varying regional impacts WorldOil.

  • Global energy demand is expected to rise further, driven by industrial growth and urbanization OilPrice.com.

  • Shell drilling decreases amid US oil industry consolidation, affecting production output Oilandgas360.

  • India's energy demand surge is expected, impacting global oil markets OilPrice.com.

  • Hart Energy reports oil & gas firms' rising market caps bump laggards from SP indices HartEnergy.

  • TAQA and Criteria drop talks to buy a $26 billion utility Bloomberg.

  • California seeks oil, gas profits in new production tax Yahoo Finance.

  • Crude oil prices fell today due to supply concerns and market fluctuations CNBC.

  • California targets oil and gas company profits in a new legislative move Yahoo Finance.

  • Siniora Energy enters prolific offshore Namibia, boosting exploration efforts WorldOil.

  • Government removes tax benefits for oil extraction, impacting industry profitability TBSNews.

  • The US oil industry shows resilience but less growth compared to other sectors WorldOil.

  • China and Pakistan to cooperate on hydrocarbons and mining activities, boosting bilateral ties Offshore-technology.

Deal Flow

M&A/Investment

  • Noble Corporation plc announces agreement to acquire Diamond Offshore Drilling Inc in a $1.6 billion deal Bloomberg .

  • ARC Financial Corp recapitalizes Aspenleaf Energy Limited through a continuation fund PRNewswire.

  • Siniora Energy enters the prolific offshore orange basin of Namibia with 49% interest in Giraffe Energy Investments (Pty) Ltd WorldOil.

IPO/Direct Listing/Issuances/Block Trades

  • Secure announces final results of its substantial issuer bid PRNewswire.

Debt

  • No deals that match this criteria.

SPAC

  • No deals that match this criteria.

Bankruptcy/Restructuring/Distressed

  • No deals that match this criteria.

Fundraising

  • No deals that match this criteria.

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