Noble Corporation Wins $84M Contract for Petronas Offshore Suriname

Noble Corporation plc NE, an offshore drilling contractor, has secured a contract from Petronas Suriname E&P for its semi-submersible rig Noble Developer. The contract involves drilling three wells offshore Suriname for Petronas. The duration of the contract is estimated to be 200 days.The contract's value is approximately $84 million. This includes mobilization and demobilization fees for the rig and additional services provided by NE. The contract is expected to start around June 2025. The companies have also agreed to add an option of drilling an additional well to the contract.The Noble Developer drillship is currently stationed offshore Trinidad and Tobago. The necessary preparations are scheduled to start immediately for the rig’s upcoming assignment with Petronas. The rig was built in 2008 and can operate in water depths of approximately 10,000 feet. It has a maximum drilling depth of 40,000 feet.Noble Developer previously worked for Petronas in Suriname. The company is looking forward to resuming operations in the region in mid-2025.NE’s Zacks Rank and Key PicksNE currently carries a Zacks Rank #5 (Sell).Some better-ranked stocks from the energy sector are TechnipFMC plc FTI, Sunoco LP SUN and Oceaneering International OII. TechnipFMC and Sunoco currently sport a Zacks Rank #1 (Strong Buy) each, while Oceaneering International carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.TechnipFMC is a leading manufacturer and supplier of products, services and fully integrated technology solutions for the energy industry. The company’s total backlog witnessed a high of $14.7 million in the third quarter of 2024, indicating an 11.1% increase from the previous year’s level. This growing backlog ensures strong revenue growth for FTI.Sunoco LP is one of the largest distributors of motor fuel in the United States. The partnership distributes fuel to independent dealers, commercial customers, convenience stores and distributors. Its current distribution yield is greater than that of the industry's composite stocks, providing unitholders with consistent returns.Oceaneering International delivers integrated technology solutions across all stages of the offshore oilfield lifecycle. The company is a leading offshore equipment and technology solutions provider to the energy industry. Its proven ability to deliver innovative, integrated solutions supports ongoing client retention and new business opportunities, ensuring steady revenue growth.Just Released: Zacks Top 10 Stocks for 2024Hurry – you can still get in early on our 10 top tickers for 2025. Handpicked by Zacks Director of Research Sheraz Mian, this portfolio has been stunningly and consistently successful. From inception in 2012 through November, 2024, the Zacks Top 10 Stocks gained +2,112.6%, more than QUADRUPLING the S&P 500’s +475.6%. Sheraz has combed through 4,400 companies covered by the Zacks Rank and handpicked the best 10 to buy and hold in 2025. You can still be among the first to see these just-released stocks with enormous potential. See New Top 10 Stocks >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Noble Corporation PLC (NE): Free Stock Analysis Report TechnipFMC plc (FTI): Free Stock Analysis Report Sunoco LP (SUN): Free Stock Analysis Report Oceaneering International, Inc. (OII): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks