SDRLF - Noble Transocean-led group bidding for Seadrill assets - Reuters

Ion-Creations/iStock Editorial via Getty Images Noble Corp. ([[NE]] +0.2%) and a consortium led by Transocean ([[RIG]] +2.5%) are competing to buy the assets of bankrupt offshore oil driller Seadrill (SDRLF), Reuters reports. The offer submitted earlier this month from the group comprising Transocean, Dolphin Drilling (FOEAF) and a third partner consists of unspecified amounts of cash and shares in Transocean as well as an agreement to take on some of Seadrill's existing debt, according to the report. Noble submitted a bid in May for Seadrill's asset base, according to a July 1 bankruptcy court filing, although specifics are not known. For its part, Seadrill tells Reuters it remains focused on the restructuring of its balance sheet. Seadrill filed for Chapter 11 for bankruptcy protection in the U.S. in February, its second such filing in four years.

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Noble, Transocean-led group bidding for Seadrill assets - Reuters