Company: NE-WTA
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001628280-25-038188
Chunk: 38

Company: Noble Corp plc
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 1
Chunk 38
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 million in mobilization, and $41.0 million in non-labor and operations support costs, incremental insurance costs, and other costs across the fleet. These increases were partially offset by decreases of $7.1 million in labor, $9.7 million in repairs and maintenance, as well as insurance proceeds received for a certain rig totaling $15.6 million.

Jackups. During the second quarter of 2025, total contract drilling services cost related to jackups was $105.6 million, as compared to $87.2 million in the second quarter 2024. The primary drivers of this increase were $7.4 million related to mobilization and $20.0 million related to non-labor costs, operations support costs, and other costs across the fleet. These increases were partially offset by decreases of $4.0 million in capitalized shipyard costs, rig catering, and other costs across the fleet. Further, there was a decrease of $5.0 million after the completion of disposal activities regarding certain rigs.

Depreciation and amortization. Depreciation and amortization totaled $147.1 million and $90.8 million during the second quarter of 2025 and 2024, respectively. Depreciation and amortization increased by $56.3 million in the current period primarily due to the Diamond Transaction.

General and administrative. General and administrative expenses totaled $35.0 million and $39.7 million during the second quarter of 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.

Merger and integration costs. Noble incurred $5.3 million and $10.6 million of merger and integration costs during the second quarter of 2025 and 2024, respectively. In the second quarter of 2025, costs incurred related primarily to the 

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Diamond Transaction. In the second quarter of 2024, costs incurred related to the Business Combination with Maersk Drilling. In both periods, such direct costs related primarily to professional fees and certain integration-related activities.

(Gain) loss on sale of operating assets, net. During the second quarter of 2025, we sold the Pacific Scirocco, resulting in a pre-tax gain of $4.8 million. During the second quarter of 2024, we sold the Noble Explorer, resulting in a pre-tax gain of $17.4 million.

Other Income and Expenses

Interest