Company: NE-WTA
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001628280-25-038188
Chunk: 89

Company: Noble Corp plc
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 8
Chunk 89
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.2 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 $16.3 million in labor, $22.0 million in repairs and maintenance, $6.0 million in transportation, as well as insurance proceeds received for a certain rig totaling $15.6 million.

Jackups. During the six months ended June 30, 2025, total contract drilling services cost related to jackups was $175.9 million, as compared to $187.4 million in the six months ended June 30, 2024. The primary drivers of this decrease were $3.5 million related to repairs and maintenance, $3.3 million in non-labor and operations support costs across the fleet, as well as insurance proceeds received for a certain rig totaling $20.0 million. Further, there was a decrease of $11.1 million after the completion of disposal activities regarding certain rigs. These decreases were partially offset by increases of $26.4 million in labor, transportation, and other costs across the fleet. 

Depreciation and amortization. Depreciation and amortization totaled $290.2 million and $177.5 million during the six months ended June 30, 2025 and 2024, respectively. Depreciation and amortization increased by $112.8 million in the current period primarily due to the Diamond Transaction.

General and administrative. General and administrative expenses totaled $70.2 million and $65.6 million during the six months ended June 30, 2025 and 2024, respectively. The increase 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 $20.2 million and $19.9 million of merger and integration costs during the six months ended June 30, 2025 and 2024, respectively. In the current period, costs incurred related primarily to the Diamond Transaction. In the prior period, 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,