Core Insights - Noble Corporation PLC reported quarterly earnings of $0.13 per share, missing the Zacks Consensus Estimate of $0.57 per share, and down from $0.72 per share a year ago, representing an earnings surprise of -77.19% [1] - The company posted revenues of $848.65 million for the quarter ended June 2025, missing the Zacks Consensus Estimate by 0.61%, but up from $692.84 million year-over-year [2] - Noble Corporation PLC shares have declined approximately 17.5% since the beginning of the year, contrasting with the S&P 500's gain of 7.6% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.45 on revenues of $822.15 million, and for the current fiscal year, it is $1.22 on revenues of $3.36 billion [7] - The estimate revisions trend for Noble Corporation PLC was unfavorable prior to the earnings release, resulting in a Zacks Rank 4 (Sell) for the stock, indicating expected underperformance in the near future [6] Industry Context - The Oil and Gas - Drilling industry, to which Noble Corporation PLC belongs, is currently in the bottom 10% of over 250 Zacks industries, suggesting a challenging environment for stock performance [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, highlighting the importance of monitoring these revisions for investment decisions [5]

[Press Release Announcement](index=1&type=section&id=PRESS%20RELEASE) Noble Corporation plc announced its second quarter 2025 financial results on August 5, 2025 [Company Announcement](index=1&type=section&id=Company%20Announcement) Noble Corporation plc reported its second quarter 2025 financial results on August 5, 2025 - Noble Corporation plc (NYSE: NE) reported second quarter 2025 results on August 5, 2025[2](index=2&type=chunk) [Q2 2025 Financial Summary](index=1&type=section&id=Q2%202025%20Financial%20Summary) Noble Corporation reported total revenue of **$849 million** and net income of **$43 million** for Q2 2025, with Adjusted EBITDA at **$282 million** and diluted EPS at **$0.27** Q2 2025 Key Financial Highlights | Metric | Q2 2025 (Millions $) | Q2 2024 (Millions $) | Q1 2025 (Millions $) | | :----------------------------- | :------------------- | :------------------- | :------------------- | | Total Revenue | 849 | 693 | 874 | | Contract Drilling Services Revenue | 812 | 661 | 832 | | Net Income (Loss) | 43 | 195 | 108 | | Adjusted EBITDA* | 282 | 271 | 338 | | Adjusted Net Income (Loss)* | 20 | 105 | 42 | | Basic Earnings (Loss) Per Share | 0.27 | 1.37 | 0.68 | | Diluted Earnings (Loss) Per Share | 0.27 | 1.34 | 0.67 | | Adjusted Diluted Earnings (Loss) Per Share* | 0.13 | 0.72 | 0.26 | [CEO Commentary and Key Highlights](index=1&type=section&id=CEO%20Commentary%20and%20Key%20Highlights) CEO Robert W. Eifler highlighted resilient earnings, free cash flow, successful integration, and significant backlog expansion, with a Q3 cash dividend of **$0.50 per share** contributing to over **$1.1 billion** in capital returned to shareholders - CEO Robert W. Eifler noted resilient earnings and free cash flow, successful integration, and expanded backlog in H1 2025[4](index=4&type=chunk) - Approximately **$380 million** in new contract awards since April fleet status report, bringing backlog to **$6.9 billion**[4](index=4&type=chunk) - A **$0.50 per share** cash dividend was declared for Q3, contributing to over **$1.1 billion** in total capital returned to shareholders since Q4 2022[4](index=4&type=chunk) [Detailed Second Quarter Results](index=2&type=section&id=Second%20Quarter%20Results) Noble Corporation's second quarter results detail financial performance, balance sheet position, operating highlights, and asset disposal activities [Financial Performance](index=2&type=section&id=Financial%20Performance) Contract drilling services revenue for Q2 2025 totaled **$812 million**, a sequential decrease primarily driven by lower rig utilization, with net income and Adjusted EBITDA also declining from the prior quarter Q2 2025 vs. Q1 2025 Performance | Metric | Q2 2025 (Millions $) | Q1 2025 (Millions $) | Change (Sequential) | | :-------------------------------- | :------------------- | :------------------- | :------------------ | | Contract drilling services revenue | 812 | 832 | ↓ $20 million | | Marketed fleet utilization | 70% | 78% | ↓ 8 percentage points | | Contract drilling services costs | 502 | 462 | ↑ $40 million | | Net income | 43 | 108 | ↓ $65 million | | Adjusted EBITDA | 282 | 338 | ↓ $56 million | | Net cash from operating activities | 216 | N/A | N/A | | Capital expenditures | 117 | N/A | N/A | | Free cash flow | 107 | N/A | N/A | [Balance Sheet & Capital Allocation](index=2&type=section&id=Balance%20Sheet%20%26%20Capital%20Allocation) As of June 30, 2025, Noble's balance sheet reflected total debt principal of **$2 billion** and cash of **$338 million**, with the Board approving an interim quarterly cash dividend of **$0.50 per share** for Q3 2025 Balance Sheet Snapshot (June 30, 2025) | Metric | Amount (Millions $) | | :-------------------------- | :------------------ | | Total debt principal value | 2,000 | | Cash (and cash equivalents) | 338 | - Noble's Board of Directors approved an interim quarterly cash dividend of **$0.50 per share** for Q3 2025, payable on September 25, 2025[7](index=7&type=chunk) [Operating Highlights and Backlog](index=2&type=section&id=Operating%20Highlights%20and%20Backlog) Noble's marketed floater utilization was **75%** and jackup utilization was **61%** in Q2 2025, both decreasing sequentially, while new contract awards totaling approximately **$380 million** increased the total backlog to **$6.9 billion** Q2 2025 Fleet Utilization | Fleet Type | Q2 2025 Utilization | Q1 2025 Utilization | | :--------- | :------------------ | :------------------ | | Floaters | 75% | 80% | | Jackups | 61% | 74% | - New contract awards totaling approximately **$380 million** were secured, excluding unexercised extension options[10](index=10&type=chunk) - Total backlog as of August 5, 2025, stands at **$6.9 billion**, excluding mobilization and demobilization revenue[10](index=10&type=chunk) - Recent dayrate fixtures for Tier-1 drillships were in the **low to mid $400,000s**, with 6th generation floater fixtures between the **low $300,000s to mid $400,000s**[8](index=8&type=chunk) - Key new contracts include extensions for Noble Stanley Lafosse, and new contracts for Noble Viking, Noble Globetrotter I, Noble Innovator, Noble Resilient, and Noble Intrepid, with various durations and values[11](index=11&type=chunk) [Asset Disposals](index=3&type=section&id=Asset%20Disposals) Noble completed the sale of two cold stacked drillships for combined gross proceeds of **$41 million**, with an agreement to sell the Noble Highlander for **$65 million** expected to close in Q3, and two other rigs held for sale - Sale of cold stacked drillships Pacific Scirocco and Pacific Meltem completed in June and July, respectively, for combined gross proceeds of **$41 million**[12](index=12&type=chunk) - Definitive agreement to sell cold stacked jackup Noble Highlander for **$65 million**, expected to close in Q3[12](index=12&type=chunk) - Noble Globetrotter II and Noble Reacher are currently held for sale[12](index=12&type=chunk) [Outlook](index=3&type=section&id=Outlook) Noble Corporation updated its full-year 2025 guidance, reflecting revised revenue expectations and an increased Adjusted EBITDA midpoint, while management anticipates increasing deepwater demand by late 2026 [Full Year 2025 Guidance Update](index=3&type=section&id=Full%20Year%202025%20Guidance%20Update) Noble updated its full-year 2025 guidance, reducing total revenue expectations while increasing Adjusted EBITDA and capital expenditures due to recent long-term contract awards Full Year 2025 Guidance Update | Metric | New Guidance (Millions $) | Previous Guidance (Millions $) | Change | | :-------------------------------- | :-------------------------- | :----------------------------- | :----- | | Total Revenue | $3,200 to $3,300 | $3,250 to $3,450 | Reduced | | Adjusted EBITDA | $1,075 to $1,150 | $1,050 to $1,150 | Increased midpoint | | Capital Expenditures (net of reimbursements) | $400 to $450 | $375 to $425 | Increased | [Management Commentary on Market Outlook](index=3&type=section&id=Management%20Commentary%20on%20Market%20Outlook) CEO Robert W. Eifler noted strong first-half financial results supported the Adjusted EBITDA guidance increase, despite near-term spot market softness, and anticipates increasing deepwater demand by late 2026 and into 2027 - Strong first-half financial results support raising the midpoint of full-year Adjusted EBITDA guidance[14](index=14&type=chunk) - Near-term spot market contracting activity shows softness, with increased instances of contract extension options lapsing due to upstream capital restraint[14](index=14&type=chunk) - Deepwater market indicators suggest increasing demand levels by late 2026 and into 2027, especially in South America and Africa[14](index=14&type=chunk) [Corporate Information](index=3&type=section&id=Corporate%20Information) This section provides details on Noble Corporation's conference call, company overview, forward-looking statements, and contract backlog disclosures [Conference Call](index=3&type=section&id=Conference%20Call) Noble Corporation will host a conference call on August 6, 2025, at 8:00 a.m. U.S. Central Time to discuss its second quarter 2025 results - Conference call for Q2 2025 results scheduled for Wednesday, August 6, 2025, at 8:00 a.m. U.S. Central Time[15](index=15&type=chunk) [About Noble Corporation plc](index=3&type=section&id=About%20Noble%20Corporation%20plc) Noble is a leading offshore drilling contractor for the oil and gas industry, operating one of the most modern, versatile, and technically advanced fleets focused on ultra-deepwater and high-specification jackup drilling opportunities - Noble is a leading offshore drilling contractor for the oil and gas industry[16](index=16&type=chunk) - The company operates one of the most modern, versatile, and technically advanced fleets, focusing on ultra-deepwater and high specification jackup drilling[16](index=16&type=chunk) [Forward-looking Statements](index=3&type=section&id=Forward-looking%20Statements) This section provides a disclaimer regarding forward-looking statements, highlighting inherent risks, uncertainties, and assumptions that could cause actual results to differ materially from projections, with no obligation to update these statements except as required by law - The communication includes forward-looking statements regarding 2025 guidance, market conditions, capital allocation, and other operational aspects[17](index=17&type=chunk) - Forward-looking statements involve risks, uncertainties, and assumptions, and actual results may differ materially[18](index=18&type=chunk) - The company undertakes no obligation to revise or update any forward-looking statement, except as required by law[18](index=18&type=chunk) [Contract Backlog Disclosures](index=4&type=section&id=Contract%20Backlog) The contract backlog represents estimated maximum contract drilling revenues based on contractual operating dayrates, but actual revenues may vary due to factors like rig downtime, suspensions, or reallocations, generally excluding mobilization, demobilization, and performance incentives with some exceptions - Contract backlog represents maximum contract drilling revenues based on contractual operating dayrate for the firm period[19](index=19&type=chunk) - Actual average dayrate depends on factors like rig downtime and operational suspensions, and contracts are subject to cancellation, suspension, or delays[19](index=19&type=chunk) - Dayrates generally exclude revenue for mobilizations, demobilizations, upgrades, and performance incentives, with exceptions for certain long-term contracts[19](index=19&type=chunk) [Condensed Consolidated Statements of Operations](index=5&type=section&id=NOBLE%20CORPORATION%20plc%20AND%20SUBSIDIARIES%20CONDENSED%20CONSOLIDATED%20STATEMENTS%20OF%20OPERATIONS) This section presents Noble Corporation's condensed consolidated statements of operations, detailing revenues, costs, and net income for the second quarter and first half of 2025 and 2024 [Statements of Operations Data](index=5&type=section&id=Statements%20of%20Operations%20Data) Noble's Q2 2025 operating revenues were **$848.65 million**, with a net income of **$42.87 million**, while for the six months ended June 30, 2025, operating revenues reached **$1,723.14 million** and net income was **$151.18 million** Condensed Consolidated Statements of Operations (Selected Data) | Metric (in thousands $) | Q2 2025 | Q2 2024 | H1 2025 | H1 2024 | | :-------------------------------- | :------ | :------ | :------ | :------ | | Operating revenues | $848,652 | $692,844 | $1,723,139 | $1,329,928 | | Contract drilling services | $812,077 | $660,710 | $1,644,505 | $1,273,135 | | Operating costs and expenses | $713,399 | $482,885 | $1,400,547 | $1,012,422 | | Operating income (loss) | $135,253 | $209,959 | $322,592 | $317,506 | | Net income (loss) | $42,872 | $195,008 | $151,175 | $290,489 | | Basic Net income (loss) per share | $0.27 | $1.37 | $0.95 | $2.04 | | Diluted Net income (loss) per share | $0.27 | $1.34 | $0.93 | $1.99 | [Condensed Consolidated Balance Sheets](index=6&type=section&id=NOBLE%20CORPORATION%20plc%20AND%20SUBSIDIARIES%20CONDENSED%20CONSOLIDATED%20BALANCE%20SHEETS) This section presents Noble Corporation's condensed consolidated balance sheets, detailing assets, liabilities, and equity as of June 30, 2025, and December 31, 2024 [Balance Sheet Data](index=6&type=section&id=Balance%20Sheet%20Data) As of June 30, 2025, Noble reported total assets of **$7.67 billion**, a decrease from **$7.96 billion** at December 31, 2024, with total liabilities also decreasing to **$3.04 billion** from **$3.31 billion** over the same period Condensed Consolidated Balance Sheets (Selected Data) | Metric (in thousands $) | June 30, 2025 | December 31, 2024 | | :-------------------------------- | :------------ | :---------------- | | Cash and cash equivalents | $338,185 | $247,303 | | Total current assets | $1,289,062 | $1,388,864 | | Property and equipment, net | $5,856,242 | $6,035,817 | | Total assets | $7,666,971 | $7,964,768 | | Total current liabilities | $715,973 | $940,362 | | Long-term debt | $1,978,027 | $1,980,186 | | Total liabilities | $3,038,644 | $3,313,382 | | Total shareholders' equity | $4,628,327 | $4,651,386 | [Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=NOBLE%20CORPORATION%20plc%20AND%20SUBSIDIARIES%20CONDENSED%20CONSOLIDATED%20STATEMENTS%20OF%20CASH%20FLOWS) This section presents Noble Corporation's condensed consolidated statements of cash flows, detailing cash movements from operating, investing, and financing activities for the first half of 2025 and 2024 [Cash Flow Data](index=7&type=section&id=Cash%20Flow%20Data) For the six months ended June 30, 2025, net cash provided by operating activities was **$487.42 million**, a significant increase from **$235.48 million** in the prior year period, with investing activities using **$191.73 million** and financing activities using **$202.52 million** Condensed Consolidated Statements of Cash Flows (Selected Data) | Metric (in thousands $) | H1 2025 | H1 2024 | | :-------------------------------- | :------ | :------ | | Net income (loss) | $151,175 | $290,489 | | Net cash provided by (used in) operating activities | $487,417 | $235,480 | | Net cash provided by (used in) investing activities | $(191,726) | $(299,813) | | Net cash provided by (used in) financing activities | $(202,517) | $(134,926) | | Net increase (decrease) in cash, cash equivalents and restricted cash | $93,174 | $(199,259) | | Cash, cash equivalents and restricted cash, end of period | $345,453 | $168,486 | [Operational Information](index=8&type=section&id=NOBLE%20CORPORATION%20plc%20AND%20SUBSIDIARIES%20OPERATIONAL%20INFORMATION) This section provides Noble Corporation's operational information, including rig utilization, average dayrates, and operating days for floaters and jackups [Rig Utilization and Dayrates](index=8&type=section&id=Rig%20Utilization%20and%20Dayrates) In Q2 2025, average rig utilization for floaters was **70%** and for jackups was **61%**, both decreasing sequentially, while average dayrates increased for both fleet types Average Rig Utilization | Fleet Type | Q2 2025 Utilization | Q1 2025 Utilization | Q2 2024 Utilization | | :--------- | :------------------ | :------------------ | :------------------ | | Floaters | 70% | 74% | 70% | | Jackups | 61% | 74% | 77% | | Total | 67% | 74% | 73% | Average Dayrates (in thousands $) | Fleet Type | Q2 2025 (in thousands $) | Q1 2025 (in thousands $) | Q2 2024 (in thousands $) | | :--------- | :----------------------- | :----------------------- | :----------------------- | | Floaters | $400,802 | $381,161 | $435,677 | | Jackups | $176,503 | $159,527 | $155,585 | | Total | $333,960 | $308,898 | $310,962 | Operating Days | Fleet Type | Q2 2025 Days | Q1 2025 Days | Q2 2024 Days | | :--------- | :----------- | :----------- | :----------- | | Floaters | 1,705 | 1,800 | 1,138 | | Jackups | 724 | 871 | 914 | | Total | 2,429 | 2,671 | 2,052 | [Calculation of Basic and Diluted Net Income/(Loss) Per Share](index=9&type=section&id=NOBLE%20CORPORATION%20plc%20AND%20SUBSIDIARIES%20CALCULATION%20OF%20BASIC%20AND%20DILUTED%20NET%20INCOME/(LOSS)%20PER%20SHARE) This section details the calculation of Noble Corporation's basic and diluted net income per share, including weighted average shares outstanding, for Q2 2025 and prior periods [Per Share Data Calculation](index=9&type=section&id=Per%20Share%20Data%20Calculation) For Q2 2025, basic and diluted net income per share were both **$0.27**, based on weighted average shares outstanding of **158.8 million** and **161.5 million**, respectively, representing a significant decrease from Q2 2024 Net Income Per Share Data | Metric | Q2 2025 (in thousands $) | Q2 2024 (in thousands $) | H1 2025 (in thousands $) | H1 2024 (in thousands $) | | :-------------------------------- | :----------------------- | :----------------------- | :----------------------- | :----------------------- | | Net income (loss) | $42,872 | $195,008 | $151,175 | $290,489 | | Weighted average shares outstanding - basic | 158,798 Shares | 142,854 Shares | 158,901 Shares | 142,404 Shares | | Weighted average shares outstanding - diluted | 161,528 Shares | 146,060 Shares | 161,772 Shares | 145,614 Shares | | Basic Net income (loss) per share | $0.27 Per Share | $1.37 Per Share | $0.95 Per Share | $2.04 Per Share | | Diluted Net income (loss) per share | $0.27 Per Share | $1.34 Per Share | $0.93 Per Share | $1.99 Per Share | [Non-GAAP Measures and Reconciliations](index=10&type=section&id=NOBLE%20CORPORATION%20plc%20AND%20SUBSIDIARIES%20NON-GAAP%20MEASURES%20AND%20RECONCILIATION) This section provides explanations and reconciliations for Noble Corporation's non-GAAP financial measures, including Adjusted EBITDA, Adjusted Net Income (Loss), Adjusted Diluted EPS, and Free Cash Flow [Explanation of Non-GAAP Measures](index=10&type=section&id=Explanation%20of%20Non-GAAP%20Measures) Noble provides non-GAAP financial measures like Adjusted EBITDA, Adjusted Net Income (Loss), Adjusted Diluted EPS, and Free Cash Flow to offer greater transparency into core operating performance and liquidity, excluding non-recurring items, as supplements to GAAP measures - Non-GAAP measures (Adjusted EBITDA, Adjusted Net Income/Loss, Adjusted Diluted EPS, Free Cash Flow) are provided for meaningful comparisons and greater transparency of core operating performance[32](index=32&type=chunk)[35](index=35&type=chunk) - Adjusted EBITDA is defined as net income (loss) adjusted for interest, taxes, depreciation, amortization, and certain other infrequent operational events and merger/integration costs[33](index=33&type=chunk) - Free cash flow is calculated as Net cash provided by (used in) operating activities less cash paid for capital expenditures, measuring the ability to generate or use cash for growth or shareholder returns[34](index=34&type=chunk) [Reconciliation of Adjusted EBITDA](index=11&type=section&id=Reconciliation%20of%20Adjusted%20EBITDA) Adjusted EBITDA for Q2 2025 was **$281.97 million**, a decrease from **$337.95 million** in Q1 2025, but an increase from **$271.49 million** in Q2 2024, with key adjustments including depreciation and amortization, and merger and integration costs Adjusted EBITDA Reconciliation | Metric (in thousands $) | Q2 2025 | Q2 2024 | Q1 2025 | | :-------------------------------- | :------ | :------ | :------ | | Net income (loss) | $42,872 | $195,008 | $108,303 | | Income tax (benefit) provision | $57,096 | $(5,228) | $40,406 | | Interest expense, net | $39,997 | $11,996 | $40,467 | | Depreciation and amortization | $147,085 | $90,770 | $143,137 | | Merger and integration costs | $5,302 | $10,618 | $14,920 | | Adjusted EBITDA | $281,974 | $271,493 | $337,946 | [Reconciliation of Adjusted Income Tax Benefit (Provision)](index=11&type=section&id=Reconciliation%20of%20Adjusted%20Income%20Tax%20Benefit%20(Provision)) The income tax provision for Q2 2025 was **$(57.10) million**, which, after adjustments primarily for discrete tax items, resulted in an Adjusted income tax benefit (provision) of **$(79.23) million** Adjusted Income Tax Benefit (Provision) Reconciliation | Metric (in thousands $) | Q2 2025 | Q2 2024 | Q1 2025 | | :-------------------------------- | :------ | :------ | :------ | | Income tax benefit (provision) | $(57,096) | $5,228 | $(40,406) | | Discrete tax items | $(22,129) | $(63,067) | $(73,295) | | Adjusted income tax benefit (provision) | $(79,225) | $(55,238) | $(113,701) | [Reconciliation of Adjusted Net Income (Loss)](index=12&type=section&id=Reconciliation%20of%20Adjusted%20Net%20Income%20(Loss)) Adjusted Net Income for Q2 2025 was **$20.38 million**, down from **$42.48 million** in Q1 2025 and **$105.31 million** in Q2 2024, with adjustments primarily including discrete tax items, merger and integration costs, and gain/loss on asset sales Adjusted Net Income (Loss) Reconciliation | Metric (in thousands $) | Q2 2025 | Q2 2024 | Q1 2025 | | :-------------------------------- | :------ | :------ | :------ | | Net income (loss) | $42,872 | $195,008 | $108,303 | | Total Adjustments | $(22,493) | $(89,702) | $(65,825) | | Adjusted net income (loss) | $20,379 | $105,306 | $42,478 | [Reconciliation of Adjusted Diluted EPS](index=12&type=section&id=Reconciliation%20of%20Adjusted%20Diluted%20EPS) Adjusted Diluted EPS for Q2 2025 was **$0.13**, a decrease from **$0.26** in Q1 2025 and **$0.72** in Q2 2024, accounting for non-recurring items such as discrete tax items and merger costs Adjusted Diluted EPS Reconciliation | Metric | Q2 2025 EPS | Q2 2024 EPS | Q1 2025 EPS | | :-------------------------------- | :---------- | :---------- | :---------- | | Unadjusted diluted EPS | $0.27 | $1.34 | $0.67 | | Total Adjustments | $(0.14) | $(0.62) | $(0.41) | | Adjusted diluted EPS | $0.13 | $0.72 | $0.26 | [Reconciliation of Free Cash Flow](index=12&type=section&id=Reconciliation%20of%20Free%20Cash%20Flow) Free Cash Flow for Q2 2025 was **$106.59 million**, a significant improvement from a negative free cash flow of **$(25.72) million** in Q2 2024, but lower than **$172.92 million** in Q1 2025, driven by net cash from operating activities less capital expenditures, offset by insurance proceeds Free Cash Flow Reconciliation | Metric (in thousands $) | Q2 2025 | Q2 2024 | Q1 2025 | | :-------------------------------- | :------ | :------ | :------ | | Net cash provided by (used in) operating activities | $216,357 | $106,791 | $271,060 | | Capital expenditures | $(116,581) | $(132,513) | $(113,536) | | Proceeds from insurance claims | $6,810 | $0 | $15,391 | | Free cash flow | $106,586 | $(25,722) | $172,915 |

Core Viewpoint - Noble Corporation reported its second quarter 2025 results, highlighting resilient earnings and free cash flow despite macro volatility, with a focus on integration targets and backlog expansion [3]. Financial Performance - Total revenue for Q2 2025 was $849 million, a decrease from $874 million in Q1 2025 and an increase from $693 million in Q2 2024 [2]. - Contract drilling services revenue was $812 million in Q2 2025, down from $832 million in Q1 2025 and up from $661 million in Q2 2024 [2][3]. - Net income for Q2 2025 was $43 million, down from $108 million in Q1 2025 and $195 million in Q2 2024 [2][3]. - Adjusted EBITDA for Q2 2025 was $282 million, down from $338 million in Q1 2025 but up from $271 million in Q2 2024 [2][3]. - Basic and diluted earnings per share were both $0.27 for Q2 2025, compared to $0.68 and $0.67 respectively in Q1 2025 and $1.37 and $1.34 in Q2 2024 [2][3]. Cash Flow and Capital Expenditures - Net cash provided by operating activities in Q2 2025 was $216 million, with capital expenditures of $117 million and free cash flow of $107 million [3][34]. - The company reported total debt of $2 billion and cash equivalents of $338 million as of June 30, 2025 [4]. Dividend and Shareholder Returns - An interim quarterly cash dividend of $0.50 per share was approved for Q3 2025, with total capital returned to shareholders exceeding $1.1 billion since Q4 2022 [5][7]. Operational Highlights - The marketed fleet utilization for floaters was 70% in Q2 2025, down from 78% in Q1 2025, while jackup utilization was 61%, down from 74% in the previous quarter [3][8]. - The backlog as of August 5, 2025, stands at $6.9 billion, with approximately $380 million in new contract awards since April 2025 [6][9]. Guidance and Outlook - The company updated its 2025 guidance, reducing total revenue expectations to $3,200 to $3,300 million while increasing adjusted EBITDA guidance to $1,075 to $1,150 million [11][12]. - Management noted encouraging indicators of increasing demand in the deepwater market by late 2026 and into 2027, particularly in South America and Africa [12].

TORONTO – TheNewswire - July 30, 2025 – Noble Mineral Exploration Inc. ("Noble" or the "Company") (TSXV: NOB) (OTCQB: NLPXF) today announced that the Company has filed on SEDAR+ an independent technical report (the "Report") prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101") supporting the initial mineral resource estimate for its Mann Nickel Sulphide Project (the "Mann Project") which consists of the Mann West and Mann Central Properties and ...

Core Insights - Noble Mineral Exploration Inc. announced the initial mineral resource estimate for the Mann Central Nickel Sulphide Project, in collaboration with Canada Nickel Company [1][2] - The Mann Central project is located 40 km northeast of Timmins, Ontario, and is part of the East Timmins Nickel Company joint venture [2][3] - The initial mineral resource estimate indicates significant potential, with over 9 million tonnes in both Measured & Indicated and Inferred categories [2] Mineral Resource Estimate - The Mann Central Project has an Indicated Mineral Resource of 237 million tonnes grading 0.22% nickel, totaling 0.52 million tonnes of contained nickel [4][6] - Inferred Mineral Resources are estimated at 537 million tonnes grading 0.21% nickel, equating to 1.15 million tonnes of contained nickel [4][6] - An Exploration Target of an additional 0.6 to 2.0 billion tonnes grading between 0.19% and 0.20% nickel is identified, pending further drilling [4][6] Project Details - The Mann Central project covers a geophysical target area of 3.1 square kilometers, with the current MRE covering approximately 40% of this area [3] - The dimensions of the Mann Central MRE are approximately 2.4 kilometers long, up to 700 meters wide, and extending to 500 meters deep, remaining open in all directions [4] - Drilling for the initial MRE involved 12,563 meters from 32 drill holes, conducted in 2023 and 2024 [4][8] Future Plans - Canada Nickel plans to advance the Crawford project towards a construction decision by year-end and aims to publish three additional mineral resource estimates by the end of the year [2][20] - Ongoing drilling and sampling programs will focus on upgrading Inferred Mineral Resources to Indicated Mineral Resources [20]

Group 1 - Noble Corporation plans to report its financial results for the second quarter of 2025 on August 5, 2025, after the U.S. market close [1] - A conference call regarding the second quarter results is scheduled for August 6, 2025, at 8:00 a.m. U.S. Central Time, with registration options available [2] - Noble Corporation is a leading offshore drilling contractor with a modern and advanced fleet, focusing on ultra-deepwater and high specification jackup drilling opportunities [3]

Core Insights - There is an increasing interest in oil and gas stocks despite associated risks, indicating a potential investment opportunity in this sector [1] Group 1: Investment Background - The individual has nearly two decades of experience in the logistics sector and a decade in stock investing and macroeconomic analysis, focusing on ASEAN and NYSE/NASDAQ stocks [1] - The investment strategy includes diversification across various sectors such as banks, telecommunications, logistics, and hotels, with a history of trading in the Philippine stock market since 2014 [1] - The individual has expanded investments to the US market, gaining insights from platforms like Seeking Alpha, and holds positions in US banks, hotels, shipping, and logistics companies [1]

Core Insights - Noble Mineral Exploration Inc. announced additional drilling results from the MacDiarmid Project, operated by Canada Nickel Company Inc. in Northern Ontario [1][2] - Canada Nickel's drilling program has identified further mineralization over a strike length of approximately 2,200 metres and a width of about 400 metres, building on previous work from 2021 [2][3] - Noble retains NSR rights, including a 2% NSR on claims acquired by Canada Nickel, subject to a 50% buyback for $5 million [2] Company Overview - Noble Mineral Exploration Inc. is a Canadian junior exploration company with holdings in Canada Nickel Company Inc. and other nickel and gold exploration properties [13][14] - The company holds mineral and exploration rights in approximately 70,000 hectares in Northern Ontario and additional properties in Quebec and Newfoundland [14][15] - Noble's shares trade on the TSX Venture Exchange under the symbol "NOB" [17] Industry Context - Canada Nickel is advancing nickel-sulphide projects to meet the growing demand for nickel in electric vehicles and stainless steel markets [12] - The Timmins Nickel District is highlighted for its strong potential, with Canada Nickel planning to publish multiple resource estimates by year-end [3][12] - The MacDiarmid property is strategically located near other significant nickel projects, enhancing its exploration potential [4]

Group 1 - Noble Corporation plc (NE) has commenced its drilling campaign at the Malampaya-Camago field offshore the Philippines, with the Noble Viking drillship contracted to drill three wells, including an option for a fourth well [1][9] - The Bagong Pag-Asa drill site marks the operational kickoff for the Malampaya Phase 4 (MP4) project, which is crucial for enhancing the energy security of the Philippines [2] - The Malampaya project has been operational since 2001 and at its peak supplied up to 40% of Luzon's energy demand, highlighting its significance in the Philippine energy landscape [2] Group 2 - Phase 4 of the Malampaya project involves drilling three specific wells: Camago-3, Malampaya East-1, and Bagong Pag-Asa-1, aimed at extending the gas field's life and increasing domestic energy production [3][9] - The Philippine Department of Energy (DoE) anticipates the first gas from the project by the fourth quarter of 2026 and is committed to supporting the project to ensure a reliable energy future [4] Group 3 - The Noble Viking drillship, operational since 2013, can drill at depths of 12,000 feet and has a maximum drilling depth of 40,000 feet, accommodating up to 230 personnel [5]

Financial Highlights - Noble Corporation's market capitalization is $6.2 billion[6] - The company's 2023 Free Cash Flow (FCF) was $184 million[6] - The company's 2023 Adjusted EBITDA was $810 million[6] - The company's backlog stands at $4.6 billion[6] - The company's quarterly dividend is $0.40[6] - The company's 2023 Adjusted EBITDA margin was 31%[6] Market Overview - Average deepwater greenfield investment is expected to increase by 60% in 2025-27 compared to 2021-24[9] - Tier-1 Ultra-Deepwater (UDW) marketed utilization is at 100%[14] - Total UDW marketed utilization is at 97%[14] - Total floater marketed utilization is at 95%[14]