Company: NE-WTA
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001628280-25-006184
Chunk: 111

Company: Noble Corp plc
Filing Date: 2025-02-19
Form: 10-K
Item: Item 7
Chunk 111
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 tariffs or trade wars could have an inflationary impact on the costs of certain products and services as well as potentially contribute to further supply chain disruptions.

Contract Drilling Services Backlog

We maintain a backlog of commitments for contract drilling services. Our contract drilling services backlog reflects estimated future revenues attributable to signed drilling contracts. While backlog did not include any letters of intent as of December 31, 2024, in the past we have included in backlog certain letters of intent that we expect to result in binding drilling contracts. As of December 31, 2024, contract drilling services backlog totaled approximately $6.1 billion.

We calculate backlog for any given unit and period by multiplying the full contractual operating dayrate for such unit by the number of days remaining in the period, and include certain assumptions based on the terms of certain contractual arrangements, discussed in the notes to the table below. The reported contract drilling services backlog does not include amounts representing revenues for mobilization, demobilization, and contract preparation, which are not expected to be 

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significant to our contract drilling services revenues, amounts constituting reimbursables from customers, or amounts attributable to uncommitted option periods under drilling contracts or letters of intent.

The table below presents the amount of our contract drilling services backlog and the percent of available operating days committed for the periods indicated:

Year Ended December 31, (1)Total20252026202720282029(In thousands)Contract Drilling Services BacklogFloaters (2)$5,243,084 $2,412,325 $1,547,270 $818,441 $463,718 $1,330 Jackups (3)849,914398,001267,233184,680——Total$6,092,998 $2,810,326 $1,814,503 $1,003,121 $463,718 $1,330 Percent of Available Days Committed (4)Floaters60 %38 %23 %13 %— %Jackups51 %24 %14 %— %— %Total57 %34 %20 %9 %— %

(1)Represents a twelve-month period beginning January 1. Some of our drilling contracts provide customers with certain early termination rights and, in limited cases, those termination rights require minimal or no notice and minimal financial penalties.

(2)Noble entered into a multi-year Commercial Enabling Agreement (the “