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The Company's proactive style of management has guided it from a one rig operation in 1921 to one of the largest offshore drilling contractors in the world today. The Company's growth since the time of its spin-off from Noble Affiliates in 1985 has come about through a series of strategic acquisitions of offshore drilling assets. These acquisitions follow the goals originally set forth in 1985 - to gain a strong position in foreign drilling markets, to expand marine drilling operations and to move into new markets and segments of the industry, preparing the Company to take advantage of an improved marketplace.