Noble Corporation Names Randall D. Stilley To Serve As President And Chief Executive Officer Of Standard Specification Unit, Name For New Company Announced Spinoff to be Named Paragon Offshore; Other Key Management Positions Named
LONDON, Feb. 4, 2014 /PRNewswire/ -- Noble Corporation plc (NYSE: NE) today announced that Randall D. (Randy) Stilley has been selected to serve as president and chief executive officer of Paragon Offshore, the standard specification offshore drilling company to be created upon separation from Noble.
"The Board of Directors is pleased that Randy will lead Paragon Offshore," said David W. Williams, Chairman, President and Chief Executive Officer, Noble Corporation. "His proven leadership skills, depth of experience and offshore drilling industry knowledge have given our Board the utmost confidence that he will be able to lead this Company in providing safe and reliable drilling services for its customers, which has long been a hallmark of Noble."
Stilley previously served as Chief Executive Officer and President of Seahawk Drilling, Inc., Chief Executive Officer of the mat-supported jackup rig business at Pride International Inc., as well as President and Chief Executive Officer of Hercules Offshore, Inc. He has over 38 years of experience in the oil and gas industry and has also held executive level positions at Weatherford International, Inc., Halliburton Company and Seitel, Inc. Stilley is a registered professional engineer in the state of Texas and a Member of the Society of Petroleum Engineers. He holds a B.S. degree in Aerospace Engineering from the University of Texas at Austin.
"I consider it a privilege to accept this opportunity with Paragon Offshore," Stilley said. "It's exciting to be appointed to lead a company with a reputation for providing operational excellence worldwide. We have an outstanding team and a very capable fleet of assets to build upon. I look forward to working with our customers, employees and investors in this exciting new opportunity."
Other members of the Paragon Offshore executive team were also announced. Charlie Yester, who currently serves as Vice President and Division Manager for Noble's West Africa operations, will be named as Senior Vice President of Operations; Andrew Tietz, who currently serves as Noble's Vice President Marketing and Contracts, will be named as Senior Vice President Marketing and Contracts; Lee Ahlstrom, who currently serves as Senior Vice President for Strategic Development, will be named as Senior Vice President of Investor Relations, Strategy and Planning; and Todd Strickler, who currently serves as Noble's Associate General Counsel, Corporate, will be named as Vice President and General Counsel. The Company anticipates making additional announcements regarding the appointment of other members of the management team and Board of Directors as the process moves forward.
Williams added, "I'm excited with the degree of talent these individuals bring to the emerging organization. Each of them has contributed significantly to the success of Noble in recent years and their professionalism and experience in the industry positions Paragon Offshore for success in the future."
About Noble Corporation
Noble is a leading offshore drilling contractor for the oil and gas industry. Noble performs, through its subsidiaries, contract drilling services with a fleet of 77 offshore drilling units (including two ultra-deepwater drillships and four high-specification jackup drilling rigs currently under construction), located worldwide, including in the U.S. Gulf of Mexico and Alaska, Mexico, Brazil, the North Sea, the Mediterranean, West Africa, the Middle East, India, Malaysia and Australia. Noble's shares are traded on the New York Stock Exchange under the symbol "NE." Noble Corporation plc is a public limited company registered in England and Wales with company number 08354954 and registered office at Devonshire House, 1 Mayfair Place, London, W1J 8AJ England. Additional information on Noble Corporation is available on the Company's Web site at http://www.noblecorp.com.
Forward-looking disclosure statement
This news release may contain "forward-looking statements" about the business, financial performance and prospects of the Company. Statements about the Company's or management's plans, intentions, expectations, beliefs, estimates, predictions, or similar expressions for the future, including any statements regarding the separation or operation of the standard specification business, are forward-looking statements that involve certain risks, uncertainties and assumptions. No assurance can be given that the outcomes of these forward-looking statements will be realized, and actual results could differ materially from those expressed as a result of various factors. A discussion of these factors, including risks and uncertainties, is set forth from time to time in the Company's filings with the U.S. Securities and Exchange Commission (the "SEC").
SOURCE Noble Corporation