Company: NE-WTA
Filing Date: 2025-10-28
Form Type: 10-Q
Source: 0001895262-25-000016
Chunk: 123

Company: Noble Corp plc
Filing Date: 2025-10-28
Form: 10-Q
Item: Item 2
Chunk 123
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 deductible. We have received partial insurance recoveries for these claims and we continue to seek insurance recoveries for the remainder of the incurred and anticipated costs.

31

Net cash provided by operating activities was $764.6 million and $519.3 million for the nine months ended September 30, 2025 and 2024, respectively. The increase in net cash provided by operating activities for the nine months ended September 30, 2025, was primarily attributable to improvements in cash flows from operating assets driven by an increase in payments from customers, as well as the Diamond Transaction. We had working capital of $585.2 million at September 30, 2025, and $448.5 million at December 31, 2024.

Net cash used in investing activities was $243.7 million and $813.8 million for the nine months ended September 30, 2025 and 2024, respectively. The decrease in net cash used in investing activities for the nine months ended September 30, 2025, was primarily attributable to the disposal of rigs during the current period and net cash paid related to the closing of the Diamond Transaction during the nine months ended September 30, 2024. Otherwise, net cash used in investing activities primarily consisted of capital expenditures on routine projects associated with overhauls and upgrades on various rigs.

Net cash used in financing activities was $288.6 million for the nine months ended September 30, 2025, and net cash provided by financing activities was $331.9 million for the nine months ended September 30, 2024. During the nine months ended September 30, 2025, we repurchased 0.7 million of our Ordinary Shares for total of $20.0 million, made dividend payments to our shareholders of $240.4 million, and paid $9.7 million in taxes withheld on vested employee share-based compensation awards. The nine months ended September 30, 2024, included the issuance of an additional $824.0 million of 2030 Notes. We also repurchased 6.9 million of our Ordinary Shares for a total of $250.0 million, made dividend payments to our shareholders of $198.2 million, and paid $57.2 million in taxes withheld on vested employee share-based compensation awards.

At September 30, 2025, we had a total contract drilling services backlog of approximately $7.1