Company: NE-WTA
Filing Date: 2025-10-28
Form Type: 10-Q
Source: 0001895262-25-000016
Chunk: 86

Company: Noble Corp plc
Filing Date: 2025-10-28
Form: 10-Q
Item: Item 8
Chunk 86
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 BP, and TotalEnergies represented approximately 23.3%, 19.2%, 16.2%, and 12.5% of our backlog, respectively.

25

Results of Operations

Results for the Three Months Ended September 30, 2025 and 2024

Net loss for the three months ended September 30, 2025 (the “current quarter”), was $21.1 million, or $(0.13) per diluted share, on operating revenues of $798.0 million compared to net income for the three months ended September 30, 2024, of $61.2 million, or $0.40 per diluted share, on operating revenues of $800.5 million.

Key Operating Metrics

Operating results for 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)Three Months EndedSeptember 30,Three Months EndedSeptember 30,Three Months EndedSeptember 30,202520242025202420252024Floaters65 %72 %1,488 1,418 $423,489 $424,199 Jackups54 %83 %627 991 202,982 159,444 Total61 %76 %2,115 2,409 $358,126 $315,295 

(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.

26

Contract Drilling Services

The following table presents the operating results for our contract drilling services segment