Noble said on Monday that it had completed the spin-off of the unit, creating "two separate, publicly-traded companies".
Noble said last September that it planned to split in two, cleaving off a fleet of dozens of standard-spec rigs that includes five drillships, three semi-submersibles, 34 jack-ups, two submersibles, as well as one floating production, storage and offloading vessel.
The spin-off comes at a time when offshore drilling contractors are facing a downturn amid falling dayrates and rising supply.
Paragon,
