Company: NE-WTA
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001628280-25-038188
Chunk: 87

Company: Noble Corp plc
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 8
Chunk 87
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 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.

27

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 amortization290,222 177,468 112,754 64 %General and administrative70,184 65,630 4,554 7 %Merger and integration costs20,222 19,949 273 1 %(Gain) loss on sale of operating assets, net(4,751)(17,357)12,606 (73)%1,400,547 1,012,422 388,125 38 %Operating income (loss)$322,592 $317,506 $5,086 2 %

(1)We record reimbursements from customers for out-of-pocket expenses as operating revenues and the related direct costs as operating expenses. Changes in the amount of these reimbursables generally do not have a material effect on our financial position, results of operations, or cash flows.

The following table provides information about contract drilling revenue and costs by rig types (dollars in millions except average dayrates):

Six Months Ended June 30,20252024FloatersJackupsFloatersJackupsContract drilling services revenues$1,377.8 $266.7 $1,012.2 $260.