Maersk Drilling and Noble Corporation Agree to 50/50 Combination

Vår Energi to Combine With BlueNord to Create Europe’s Largest Independent Oil and Gas Producer

July 24, 2026

Oil & Gas

Vår Energi and BlueNord agreed to combine their businesses in a statutory merger expected to create Europe’s largest independent oil and gas producer. BlueNord shareholders will receive newly issued Vår Energi shares plus cash consideration, and the transaction is expected to close around the end of 2026 subject to approvals and regulatory clearances.

Transocean to Acquire Valaris in $5.8 Billion All-Stock Deal

February 9, 2026

Energy

Transocean and Valaris have signed a definitive agreement to combine in an all-stock transaction valued at approximately $5.8 billion, with Transocean acquiring Valaris. The deal is structured as a court-approved scheme of arrangement under Bermuda law and is expected to close in the second half of 2026, subject to regulatory and shareholder approvals.

Noble Corporation plc Acquires Diamond Offshore Drilling, Inc.

June 10, 2024

Oil & Gas

Noble Corporation plc entered into a definitive merger agreement to acquire Diamond Offshore Drilling, Inc. in a stock-plus-cash transaction, with Diamond shareholders receiving 0.2316 Noble shares plus $5.65 in cash per Diamond share. The acquisition closed on September 4, 2024, expanding Noble’s offshore drilling fleet and adding approximately $2 billion of backlog.

ExxonMobil Merges With Pioneer Natural Resources in a $59.5 Billion Deal

October 12, 2023

Oil & Gas

ExxonMobil and Pioneer Natural Resources announced a merger valued at $59.5 billion. The combination brings together Pioneer’s contiguous Midland Basin acreage with ExxonMobil’s Delaware and Midland Basin portfolio to strengthen U.S. unconventional scale and increase Permian production potential.

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.