Company: NE-WTA
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001628280-25-038188
Chunk: 80

Company: Noble Corp plc
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 8
Chunk 80
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 the potential to adversely impact our ability to conduct our day-to-day operations and manage costs, with uncertainty related to trade policy and tariffs also having the ability to negatively impact rig demand.

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. As of June 30, 2025, contract drilling services backlog totaled approximately $7.4 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 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 as of June 30, 2025, and the percent of available operating days committed for the periods indicated:

Year Ending December 31, Total2025 (1)202620272028Thereafter(In thousands)Contract Drilling Services BacklogFloaters (2) (3)$6,628,953 $1,191,625 $2,008,285 $1,430,092 $1,091,591 $907,360 Jackups (4)737,164 219,391 275,343 239,4303,000— Total$7,366,117 $1,411,016 $2,283,628 $1,669,522 $1,094,591 $907,360 Percent of Available Days Committed (5)Floaters63 %53 %40 %30 %23 %Jackups51 %26 %21 %— %— %Total59 %44 %34 %20 %15 %

(1)Represents a six-month period beginning July 1, 2025.

(2)Noble entered into a multi-year Commercial Enabling Agreement (the “CEA”) with ExxonMobil in February 2020. Under the CEA, dayrates for the rigs are repriced on March 1 and September 1 each year to