Robert Eifler on capital expenditure
From Executive Q&A: Noble CEO addresses offshore drilling market · · Offshore Magazine
“The risk of true new builds is extremely low, as building a new drillship today would cost nearly a billion dollars and take about four years. To justify that, someone would need a 10-year contract at over $600,000 a day, which is a 15-year time horizon with materially higher day rates than today.”
On , Robert Eifler, President, Chief Executive Officer & Director at NOBLE CORP PLC, spoke about capital expenditure during Executive Q&A: Noble CEO addresses offshore drilling market on Offshore Magazine.
About Robert Eifler
Robert W. Eifler, president and CEO of Noble Corp., said that for deepwater rigs, "all the action remains in the Golden Triangle—US, West Africa and South America," and that Noble is "particularly active in Guyana," where it is the largest drilling contractor. He stated that 2025 would be "slightly slower" than previously anticipated, which he attributed to oil prices, but added that forward indicators for growth remain strong. Eifler noted that Noble disposed of two cold-stacked rigs and said the risk of new-build drillships is low, as justifying a new build would require a 10-year contract at over $600,000 per day. Eifler discussed Noble's strategy following its merger with Maersk Drilling, describing it as "a very transformative opportunity" that doubled the size of both companies. He said Noble has a fleet of 41 rigs and the largest fleet of seventh-generation dual BOP drillships in the industry. Eifler highlighted a contract backlog of over $4.5 billion, which he said provides earnings visibility. On emissions, he said Noble set a goal to reduce CO2 by 20% by 2030, has entered contracts with financial bonuses for reduced emissions, and participated in carbon capture projects such as Project Greensand in Denmark.