Drilling contractor regains NYSE listing

Noble Corporation, the Sugar Land-based offshore drilling contractor has relisted its shares on the NYSE. The company filed for bankruptcy in July 2020 and exited in February 2021. In that process, $3.4 billion of debt was exchanged for 86% of the equity in the newly-reorganized company.



The shares were delisted from the NYSE in August 2020.

In April 2021, Noble completed its merger with Pacific Drilling in an all-stock transaction. Noble ended up owning 75% of the combined business. After the relisting, the market capitalization is $6.2 billion.

Last week, Weatherford, an oilfield services company based in the Galleria area, relisted its shares on the Nasdaq. The company exited Chapter 11 bankruptcy in December 2019.  Weatherford started trading with a market capitalization of $870 million.

 

 

 

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