Company: NE-WTA
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001628280-25-038188
Chunk: 84

Company: Noble Corp plc
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 8
Chunk 84
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 Services Revenues

Floaters. During the second quarter of 2025, floaters generated revenue of $684.3 million, as compared to $517.7 million in the second quarter of 2024. The increase in revenue was mainly attributable to $297.0 million provided by the additional floaters acquired in connection with the Diamond Transaction. These increases were partly offset by $97.7 million from rigs with net changes in operating days in the current period as well as $11.9 million from a decrease in average dayrates in the current period. Additionally, floater revenue from net non-cash amortization related to off-market customer contract assets and liabilities decreased $20.8 million in the current period.

Jackups. During the second quarter of 2025, jackups generated revenue of $127.8 million, as compared to $143.0 million in the second quarter of 2024. The decrease in revenue was mainly attributable to $26.7 million from rigs with net changes in operating days. This decrease was partly offset by $18.1 million from an increase in average dayrates in the current period. Additionally, jackup revenue from net non-cash amortization related to off-market customer contract assets and liabilities decreased $1.0 million in the current period.

Operating Costs and Expenses

Floaters. During the second quarter of 2025, total contract drilling services costs related to floaters was $396.8 million, as compared to $248.7 million in the second quarter 2024. The primary drivers of this increase were $112.5 million related to the additional floaters acquired in connection with the Diamond Transaction, $27.0 million in mobilization, and $41.0 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 $7.1 million in labor, $9.7 million in repairs and maintenance, as well as insurance proceeds received for a certain rig totaling $15.6 million.

Jackups. During the second quarter of 2025, total contract drilling services cost related to jackups was $105.6 million, as compared to $87.2 million in the second quarter 2024. The primary drivers of this increase were $7.4 million related to mobilization and $20.0 million related to non-labor costs, operations support costs, and other costs across the fleet. These increases were partially offset by decreases of $4.