Company: NE-WTA
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001628280-25-038188
Chunk: 112

Company: Noble Corp plc
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 2
Chunk 112
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 our contract drilling services segment are dependent on three primary metrics: operating days, dayrates, and operating costs. We also track rig utilization, which is a function of operating days and the number of rigs in our fleet. For more information on operating costs, see “Contract Drilling Services” below.

The following table presents the average rig utilization, operating days and average dayrates for our rig fleet for the periods indicated:

Average Rig Utilization (1)Operating Days (2)Average Dayrates (2)Six Months EndedJune 30,Six Months EndedJune 30,Six Months EndedJune 30,202520242025202420252024Floaters72 %67 %3,505 2,240 $390,716 $434,660 Jackups68 %72 %1,595 1,709 167,233 150,286 Total71 %69 %5,100 3,949 $320,835 $311,567 

(1)We define utilization for a specific period as the total number of days our rigs are operating under contract divided by the product of the total number of our rigs, including cold stacked rigs, and the number of calendar days in such period. Information reflects our policy of reporting on the basis of the number of available rigs in our fleet.

(2)An operating day is defined as a calendar day during which a rig operated under a drilling contract. We define average dayrates as revenue from contract drilling services earned per operating day. Average dayrates exclude the effect of non-cash amortization related to favorable and unfavorable off-market customer contract assets and liabilities.

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Contract Drilling Services

The following table presents the operating results for our contract drilling services segment for the periods indicated (dollars in thousands):

Six Months Ended June 30,ChangeOperating revenues:20252024$%Contract drilling services$1,644,505 $1,273,135 $371,370 29 %Reimbursables and other (1)78,634 56,793 21,841 38 %$1,723,139 $1,329,928 $393,211 30 %Operating costs and expenses:Contract drilling services$964,526 $725,721 $238,805 33 %Reimbursables (1)60,144 41,011 19,133 47 %Depreciation and amortization290,