Noble Corporation may be heir to a fortune as demand increases for deepwater oil and gas contract drilling services. The company, with operations in waters off the coasts of five continents, has a fleet of 35 offshore drilling units: 20 semisubmersibles and 15 jack-up rigs. Many of its rigs are capable of operating in depths greater than 5,000 feet. Noble focuses on ultra-deepwater and high-specification jack-up drilling opportunities. It spun off its standard specification shallow-water, mid-water, and deep-water assets in 2014 as Paragon Offshore while retaining its high-specification and ultra-deepwater units.