UPDATE 1-Noble says Marathon seeks to cancel rig contract

* Noble says Marathon seeking force majeure

* Noble says will fight Marathon move

NEW YORK, Dec 2 (BestGrowthStock) – Noble Corp (NE.N: ) said on
Thursday that Marathon Oil Corp (MRO.N: ) is seeking to cancel a
contract for a deepwater drilling rig in the Gulf of Mexico
because the U.S. government has not yet issued new drilling
rules or permits to tap into the fields there.

Noble said it would fight Marathon’s effort to cancel the
contract under a force majeure clause for the Noble Jim Day
rig, which was expected to begin operations for Marathon by
Dec. 31.

Oil and gas activity in the deep waters of the Gulf has yet
to restart because of the uncertainty about the rules around
drilling in the region in the wake of BP Plc’s (BP.L: ) massive
oil spill from its well there in April.

Noble’s shares fell 0.6 percent or 22 cents to $34.46 per
share on the New York Stock Exchange, while Marathon’s shares
were up 0.5 percent or 17 cents to $34.32 per share.
(Reporting by Matt Daily, editing by Gerald E. McCormick)

UPDATE 1-Noble says Marathon seeks to cancel rig contract