Company: NE-WTA
Filing Date: 2025-10-28
Form Type: 10-Q
Source: 0001895262-25-000016
Chunk: 45

Company: Noble Corp plc
Filing Date: 2025-10-28
Form: 10-Q
Item: Item 1
Chunk 45
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 2025, total contract drilling services cost related to jackups was $279.4 million, as compared to $289.0 million in the nine months ended September 30, 2024. The primary drivers of this decrease were $7.2 million related to repairs and maintenance as well as insurance proceeds received for a certain rig totaling $20.0 million. Further, there was a decrease of $10.7 million related to certain rigs sold or no longer operated by Noble. These decreases were partially offset by increases of $28.4 million in labor, mobilization, fuel, and other costs across the fleet.

Depreciation and amortization. Depreciation and amortization totaled $437.5 million and $287.3 million during the nine months ended September 30, 2025 and 2024, respectively. Depreciation and amortization increased by $150.1 million in the current period primarily due to the Diamond Transaction.

General and administrative. General and administrative expenses totaled $103.5 million and $109.2 million during the nine months ended September 30, 2025 and 2024, respectively. The decrease was primarily due to individually insignificant items within certain corporate charges such as professional fees, corporate leases, and employee-related costs.

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Merger and integration costs. Noble incurred $22.4 million and $89.2 million of merger and integration costs during the nine months ended September 30, 2025 and 2024, respectively. In the current period, costs incurred directly related primarily to the Diamond Transaction. In the prior period, $69.4 million and $19.8 million of costs incurred related directly to the Diamond Transaction and to the Business Combination with Maersk Drilling. 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 nine months ended September 30, 2025, we sold the Noble Highlander, Pacific Meltem, and Pacific Scirocco, resulting in a pre-tax gain of $11.0 million. During the nine months ended September 30, 2024, we sold the Noble Explorer, resulting in a pre-tax gain of $17.4 million.

Loss on impairment. During the nine months ended September 30, 2025, we recorded a loss on impairment of $60.7 million to reduce the carrying values of the Noble Globetrotter II and Noble Reacher to