Noble Buys Frontier, Deals With Shell

Monday, June 28, 2010

According to a June 28 report from Forbes, Noble is purchasing FDR Holdings, taking advantage of the oil and gas exploration and production industry's cheap valuations brought on by the BP spill in the Gulf of Mexico. Noble, based in Switzerland, said it will acquire the privately held FDR Holdings, commonly known as Frontier Drilling, for $2.2 billion in cash. The company also said it has a billion-dollar deal over new contracts with Royal Dutch Shell.

(Source: Forbes)

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