Company: NE-WTA
Filing Date: 2025-10-28
Form Type: 10-Q
Source: 0001895262-25-000016
Chunk: 116

Company: Noble Corp plc
Filing Date: 2025-10-28
Form: 10-Q
Item: Item 2
Chunk 116
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 million in the third quarter 2024. The primary drivers of this increase were $71.1 million related to the additional floaters acquired in connection with the Diamond Transaction, $7.3 million in fuel, $5.0 million in insurance costs, and $3.6 million in mobilization. These increases were partially offset by decreases of $15.8 million in repairs and maintenance and $11.0 million in non-labor costs, operations support costs, and other costs across the fleet. Further, there was a decrease of $11.2 million related to certain rigs sold or no longer operated by Noble.

Jackups. During the third quarter of 2025, total contract drilling services cost related to jackups was $98.3 million, as compared to $101.6 million in the third quarter 2024. The primary drivers of this decrease were $2.3 million in mobilization, and $3.7 million in repairs and maintenance. Further, there was a decrease of $2.7 million related to certain rigs sold or no longer operated by Noble. These decreases were partially offset by increases of $5.3 million in fuel, incremental insurance costs, and other costs across the fleet.

Depreciation and amortization. Depreciation and amortization totaled $147.3 million and $109.9 million during the third quarter of 2025 and 2024, respectively. Depreciation and amortization increased by $37.4 million in the current period primarily due to the Diamond Transaction.

General and administrative. General and administrative expenses totaled $33.3 million and $43.6 million during the third quarter of 2025 and 2024, respectively. The decrease was primarily due to reductions within certain corporate charges such as professional fees, corporate leases, and employee-related costs.

Merger and integration costs. Noble incurred $2.1 million and $69.2 million of merger and integration costs during the third quarter of 2025 and 2024, respectively. In the third quarter of 2025, costs incurred directly related to the Diamond Transaction. In the third quarter of 2024, $63.1 million and $6.1 million of costs incurred related directly to the Diamond Transaction and the Business Combination with Maersk Drilling, respectively. In both periods, such costs related primarily to professional fees and certain integration-related activities.

(Gain) loss on sale of operating assets, net. During the third quarter of 2025, we sold