Company: NE-WTA
Filing Date: 2025-10-28
Form Type: 10-Q
Source: 0001895262-25-000016
Chunk: 115

Company: Noble Corp plc
Filing Date: 2025-10-28
Form: 10-Q
Item: Item 2
Chunk 115
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115,483 $(65,083)(56)%

(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):

Three Months Ended September 30,20252024FloatersJackupsFloatersJackupsContract drilling services revenues$630.2 $127.3 $605.3 $158.2 Contract drilling services costs$381.6 $98.3 $332.6 $101.6 Average rig utilization65 %54 %72 %83 %Operating days1,488 627 1,418 991 Average dayrates$423,489 $202,982 $424,199 $159,444 Total rigs— Beginning26 13 18 13 — Acquired— — 11 — — Disposed(1)(1)(1)— — Ending25 12 28 13 

Contract Drilling Services Revenues

Floaters. During the third quarter of 2025, floaters generated revenue of $630.2 million, as compared to $605.3 million in the third quarter of 2024. The increase in revenue was mainly attributable to $156.0 million provided by the additional floaters acquired in connection with the Diamond Transaction. These increases were partly offset by $127.1 million from rigs with net changes in operating days in the current period. Additionally, floater revenue from net non-cash amortization related to off-market customer contract assets and liabilities decreased $3.5 million in the current period.

Jackups. During the third quarter of 2025, jackups generated revenue of $127.3 million, as compared to $158.2 million in the third quarter of 2024. The decrease in revenue was mainly attributable to $51.8 million from rigs with net changes in operating days. This decrease was partly offset by $22.8 million from an increase in average dayrates in the current period.

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Operating Costs and Expenses

Floaters. During the third quarter of 2025, total contract drilling services costs related to floaters was $381.6 million, as compared to $332.6