Company: NE-WTA
Filing Date: 2025-10-28
Form Type: 10-Q
Source: 0001895262-25-000016
Chunk: 88

Company: Noble Corp plc
Filing Date: 2025-10-28
Form: 10-Q
Item: Item 8
Chunk 88
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 Drilling Services Revenues

Floaters. During the third quarter of 2025, floaters generated revenue of $630.2 million, as compared to $605.3 million in the third quarter of 2024. The increase in revenue was mainly attributable to $156.0 million provided by the additional floaters acquired in connection with the Diamond Transaction. These increases were partly offset by $127.1 million from rigs with net changes in operating days in the current period. Additionally, floater revenue from net non-cash amortization related to off-market customer contract assets and liabilities decreased $3.5 million in the current period.

Jackups. During the third quarter of 2025, jackups generated revenue of $127.3 million, as compared to $158.2 million in the third quarter of 2024. The decrease in revenue was mainly attributable to $51.8 million from rigs with net changes in operating days. This decrease was partly offset by $22.8 million from an increase in average dayrates in the current period.

27

Operating Costs and Expenses

Floaters. During the third quarter of 2025, total contract drilling services costs related to floaters was $381.6 million, as compared to $332.6 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.