Company: NE-WTA
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001628280-25-038188
Chunk: 42

Company: Noble Corp plc
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 1
Chunk 42
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6 million from an increase in average dayrates in the current period. This increase was partly offset by $13.8 million from rigs with net 

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changes in operating days in the current period. Additionally, jackup revenue from net non-cash amortization related to off-market customer contract assets and liabilities decreased $4.1 million in the current period.

Operating Costs and Expenses

Floaters. During the six months ended June 30, 2025, total contract drilling services costs related to floaters was $788.6 million, as compared to $538.3 million in the six months ended June 30, 2024. The primary drivers of this increase were $236.0 million related to the additional floaters acquired in connection with the Diamond Transaction, $35.0 million in mobilization, and $39.2 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