Shares of Noble Corporation plc (NYSE: NE), a leading offshore drilling contractor, surged by 6.92% on November 6, 2024, as investors reacted positively to the company's recent acquisition and growth prospects.

On September 4, Noble Corporation successfully completed the acquisition of Diamond Offshore Drilling, Inc. for $1.59 billion. This strategic move has created the largest fleet of 7th-generation dual-BOP drillships, solidifying Noble Corporation's position as a leader in the offshore drilling industry.

With the addition of Diamond's assets, Noble Corporation's fleet now comprises 41 rigs, including 28 floaters and 13 jack-ups. The acquisition is expected to add approximately $2 billion to the company's backlog, taking the total backlog to around $6.7 billion. This significant backlog provides Noble Corporation with a strong foundation for future growth and revenue generation.