SD Standard Drilling takes stake in Noble Corporation

Øystein Stray Spetalen’s S.D. Standard Drilling (SDSD) has spent $9.25m to purchase 500,000 shares in offshore driller Noble Corporation, giving it an ownership stake of 1%.

Noble came out of chapter 11 last month after completing a restructuring which saw it emerge with less than $400m of debt and liquidity of approximately $600m.

In addition to the Noble investment, SDSD owns four platform supply vessels, 28% ownership in six platform supply vessels and a 33.3% stake in VLCC Gustavia S. It also has a cash balance of around $18m.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.
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