Exxon Mobil (NYSE:XOM)
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By Josh Beckerman
Drilling contractor Noble Corp. said it has reached a "a unique commercial enabling agreement" with Exxon Mobil Corp. for services in the Guyana-Suriname Basin.
The ultra-deepwater drillships Noble Bob Douglas, Noble Tom Madden and Noble Don Taylor, which are currently providing service for Exxon offshore Guyana, are included in the framework agreement, and other rigs may be added.
Exxon has awarded 3.5 years of term to be added at the conclusion of current contract commitments, Noble said.
Noble said it will benefit from "multi-year contract visibility" and said an "attractive commercial model secures current market pricing dynamics on six-month intervals."
Write to Josh Beckerman at firstname.lastname@example.org
(END) Dow Jones Newswires
February 11, 2020 17:40 ET (22:40 GMT)
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