Noble Sues Marathon Oil Over ‘Jim Day’ Contract Termination

HOUSTON (Dow Jones)--Contract drillerNoble Corp. (NE) is suing Marathon Oil Corp. (MRO) and seeking damages for terminating a four-year, $752 million deal to lease an ultra-deepwater rig in the Gulf of Mexico, the company said in a securities filing Friday. Houston-based oil producer Marathon terminated the contract on Noble's Jim Day rig in January, saying Noble failed to … [Read more...]

Shell secures ‘Noble Jim Day’ for GoM operations

Noble Corporation today announced that the Company has secured a Letter of Intent ("LOI") with a subsidiary of Royal Dutch Shell plc for the 12,000 foot ultra-deepwater semisubmersible Noble Jim Day to operate in the U.S. Gulf of Mexico. Under the terms contemplated by the LOI, the effective date of the commitment would be February 15, 2011 and the contract would extend through … [Read more...]

Marathon Oil Co. Terminates ‘Noble Jim Day’ Contract

ZUG, Switzerland, Jan. 3, 2011: Noble Corporation (NYSE: NE) today reported that Marathon Oil Company ("Marathon") has provided notice that it is terminating the drilling contract for the ultradeepwater semisubmersible drilling rig Noble Jim Day. Marathon's stated reason for the termination was that the rig had not been accepted by Marathon by December 31, 2010. Noble believes … [Read more...]

Jones Act Case Study: Bobby Kirk v Noble Drilling (U.S.), Inc.

Case Name: Bobby Kirk v Noble Drilling (U.S.), Inc. Date of Judgment: 1st April 2009 Court: U.S.D.C. - S.D. Mississippi Judge: District Judge Starrett Citation: 2009 WL 910853 (S.D.Miss.) Background: The plaintiff, Bobby Kirk ("Employee") was hired by the defendant, Noble Drilling, Inc. ("Employer").  Employee worked on a rig, the Jimmy Puckett. He asserted that the rig … [Read more...]