Company: NE-WTA
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001628280-25-038188
Chunk: 66

Company: Noble Corp plc
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 8
Chunk 66
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 under the Diamond Credit Agreement.Fair Value of DebtFair value represents the amount at which an instrument could be exchanged in a current transaction between willing parties. The estimated fair value of our debt instruments was based on the quoted market prices for similar issues or on the current rates offered to us for debt of similar remaining maturities (Level 2 measurement). The fair value of the 2023 Revolving Credit Facility approximates its respective carrying amount as its interest rate is variable and reflective of market rates.The following table presents the carrying value, net of unamortized debt issuance costs and discounts or premiums, and the estimated fair value of our total debt, not including the effect of unamortized debt issuance costs, respectively:June 30, 2025December 31, 2024Carrying ValueEstimated Fair ValueCarrying ValueEstimated Fair ValueSenior secured notes8.000% Senior Notes due April 2030$1,401,098 $1,426,250 $1,401,214 $1,414,266 8.500% Senior Secured Second Lien Notes due October 2030576,929 573,023 578,972 571,428 Credit facilityAmended and Restated Senior Secured Revolving Credit Facility— — — — Total debt1,978,027 1,999,273 1,980,186 1,985,694 Less: Current maturities of long-term debt— — — — Long-term debt$1,978,027 $1,999,273 $1,980,186 $1,985,694 

Note 7 — Revenue and CustomersDisaggregation of RevenueThe following table provides information about contract drilling services revenue by rig types:Three Months Ended June 30,Six Months Ended June 30,2025202420252024Floaters$684,320 $517,755 1,377,771 1,012,222 Jackups127,757 142,955 266,734 260,913 Total$812,077 $660,710 $1,644,505 $1,273,135 Contract BalancesAccounts receivable are recognized when the right to the consideration becomes unconditional based upon contractual billing schedules. Payment terms on invoiced amounts are typically 30 to 60 days. Customer contract assets and liabilities generally consist of contract costs and deferred revenue resulting from past transactions related