Maersk Drilling and Noble Corporation Agree to 50/50 Combination

Noble Corporation plc Acquires Diamond Offshore Drilling, Inc.

June 10, 2024

Energy

Noble Corporation plc completed the acquisition of Diamond Offshore Drilling, Inc. in a stock-plus-cash merger, with Diamond shareholders receiving 0.2316 shares of Noble and $5.65 cash per share and becoming approximately 14.5% owners of Noble. The deal expands Noble's fleet with additional 7th-generation drillships and semisubmersibles, adds roughly $2.0 billion of backlog, and is expected to generate meaningful cost synergies and accretion to free cash flow.

A.P. Moller Holding to Acquire Maersk Supply Service

March 20, 2023

Transportation

A.P. Moller Holding has entered into an agreement to acquire Maersk Supply Service from A.P. Moller – Maersk. The acquisition aims to reposition Maersk Supply Service from primarily servicing oil & gas toward becoming a leading offshore marine company for the offshore wind and renewable energy market; the deal is subject to customary regulatory approvals and expected to close in Q2 2023.

Baker Hughes and Akastor Form HMH

October 1, 2021

Energy

Baker Hughes' Subsea Drilling Systems business and Akastor ASA's wholly owned MHWirth have merged to form HMH, a global offshore drilling equipment company jointly owned (50/50) by Baker Hughes and Akastor and effective October 1, 2021. HMH is headquartered in Amsterdam with major operational centers in Houston, USA and Kristiansand, Norway, combining product and service portfolios to deliver offshore drilling equipment and pursue energy-efficient solutions and adjacent-market opportunities such as renewables and mining.

DOF Group Acquires Maersk Supply Service from A.P. Moller Holding; Maersk Offshore Wind Carved Out

November 1, 2024

Transportation

DOF Group ASA has completed the acquisition of Maersk Supply Service A/S from Maersk Supply Service Holding ApS / A.P. Moller Holding for a combination of cash (~USD 577m) and newly issued DOF shares, with MSSH receiving 58,883,073 consideration shares. After closing, A.P. Moller Holding will hold 25% of the combined company; Maersk’s offshore wind turbine installation business will remain with A.P. Moller Holding as the independent Maersk Offshore Wind.

Vår Energi Acquires Neptune Energy Norge AS

January 31, 2024

Oil & Gas

Vår Energi ASA completed the acquisition of 100% of the shares in Neptune Energy Norge AS, strengthening its position on the Norwegian Continental Shelf and adding ~67 kboepd of production and ~265 mmboe of 2P reserves. The transaction was agreed at an enterprise value of USD 2.275 billion and closed on 31 January 2024 (effective date 1 January 2023); net cash consideration paid on completion (less cash in Neptune Norway) was approximately USD 1.2 billion. The deal increases Vår Energi's scale, operatorships and gas/LNG exposure and is inter-conditional with a separate transaction in which Eni acquires the remainder of Neptune's global assets.

DNOW to Acquire MRC Global in All-Stock Combination

June 26, 2025

Energy

DNOW Inc. agreed to acquire MRC Global in an all-stock merger that values MRC Global at approximately $1.5 billion inclusive of net debt, creating a combined energy and industrial solutions provider. The transaction is expected to generate about $70 million of annual cost synergies within three years, expand the combined company's global footprint and be accretive to adjusted EPS in the first year following closing.