It was envisaged when the separation was formally announced last fall that up to 20% of the company could be offered to the public. Noble cited “market conditions” in making the decision to skip the IPO.
Paragon, which will own and operate most of Noble’s current standard specification drilling business — including five drillships, three semi-submersibles, 34 jack-ups and one FPSO — is expected to be fully separated into its own entity during the third quarter.
Noble
