Company: NE-WTA
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0001628280-25-020547
Chunk: 36

Company: Noble Corp plc
Filing Date: 2025-04-29
Form: 10-Q
Item: Item 1
Chunk 36
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Three Months Ended March 31,20252024FloatersJackupsFloatersJackupsContract drilling services revenues$693.5 $139.0 $494.5 $118.0 Contract drilling services costs$391.6 $70.5 $291.1 $98.8 Average rig utilization74 %74 %64 %67 %Operating days1,800 871 1,101 794 Average dayrates$381,161 $159,527 $433,608 $144,187 Total rigs— Beginning27 13 19 13 — Acquired— — — — — Disposed— — — — — Ending27 13 19 13 

Contract Drilling Services Revenues

Floaters. During the first quarter of 2025, floaters generated revenue of $693.5 million, as compared to $494.5 million in the first quarter of 2024. The increase in revenue was mainly attributable to $215.3 million provided by the additional floaters acquired in connection with the Diamond Transaction as well as $33.3 million from an increase in average dayrates in the current period. These increases were partly offset by $40.1 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 $9.5 million in the current period.

Jackups. During the first quarter of 2025, jackups generated revenue of $139.0 million, as compared to $118.0 million in the first quarter of 2024. The increase in revenue was mainly attributable to $25.3 million from an increase in average dayrates in the current period and $4.1 million from rigs with net changes in operating days in the current period. Additionally, jackup revenue from net non-cash amortization related to off-market customer contract assets and liabilities decreased $3.4 million in the current period.

Operating Costs and Expenses

Floaters. During the first quarter of 2025, total contract drilling services costs related to floaters was $391.6 million, as compared to $291.1 million in the first quarter 2024. The primary drivers of this increase were $113.1 million related to the additional floaters acquired in connection with the Diamond Transaction, $7.9 million in mobilization,