Noble Corp (NE) Company Report

Prairie Operating Co. reported total revenue of $77.7 million and net income of $1.3 million for the third quarter ended September 30, 2025.
The company achieved record Adjusted EBITDA of $56.3 million, an increase of over 45% quarter-over-quarter, and saw quarterly production increase by approximately 10% quarter-over-quarter to 23,029 Boe/d.
Prairie Operating Co. reaffirmed its full-year 2025 guidance, projecting average daily production between 24,000 – 26,000 Boe/d and Adjusted EBITDA between $240.0 million and $260.0 million.

Nov 14, 2025, 10:13 PM

Press Release

Noble Corporation Reports Q3 2025 Results and Updates 2025 Guidance

Earnings

Guidance Update

New Projects/Investments

Noble Corporation reported Q3 2025 Adjusted EBITDA of $254 million and free cash flow of $139 million, with contract drilling services revenue totaling $798 million.
The board declared a $0.50 per share dividend for Q4 2025, contributing to a total 2025 capital return of $340 million.
Total backlog increased to $7 billion, with $2.4 billion scheduled for revenue conversion in 2026 and $1.9 billion in 2027.
Full-year 2025 Adjusted EBITDA guidance was narrowed to $1.1 billion-$1.125 billion. The company anticipates an EBITDA trough in the first half of 2026, followed by a material inflection from late 2026 onward.
Significant contract awards include two-year extensions for the Noble Black Lion and Noble Black Hornet by BP, valued at $310 million per rig, and a one-year contract for the Noble Resolute at a $125,000 day rate.

Oct 28, 2025, 1:00 PM

Transcript

Noble Corporation Announces Q3 2025 Results and Narrows Full Year Guidance

Earnings

Guidance Update

Dividends

Noble Corporation reported Q3 2025 Adjusted EBITDA of $254 million and Free Cash Flow of $139 million, contributing to $419 million of Free Cash Flow through the first nine months of 2025.
The company narrowed its Full Year 2025 guidance, with Revenue now projected between $3,225 million and $3,275 million, and Adjusted EBITDA between $1,100 million and $1,125 million.
Noble secured approximately $740 million in new contracts during Q3 2025, bringing the total backlog to $7.0 billion.
The company has returned $340 million to shareholders in 2025, including an announced Q4 dividend of $0.50 per share.

Oct 28, 2025, 1:00 PM

Presentation

Noble Corporation Reports Q3 2025 Results and Updates Full-Year Guidance

Earnings

Guidance Update

Dividends

Noble Corporation reported Q3 2025 adjusted EBITDA of $254 million and free cash flow of $139 million, with contract drilling services revenue totaling $798 million.
The company updated its full-year 2025 guidance, narrowing adjusted EBITDA to $1.1 to $1.125 billion and CapEx net of customer reimbursables to $425 to $450 million.
Total backlog increased to $7 billion as of October 27, bolstered by significant contract extensions for the Noble Black Lion and Noble Black Hornet by BP, valued at $310 million per rig for an additional two years.
Noble expects an EBITDA trough in the first half of 2026 but anticipates a material inflection from late 2026 onward, aiming for 90-100% utilization for its high-spec floater fleet by the second half of 2026.
The company plans to incur up to $135 million in outlays for BOP service and lease contract terminations in Q4 2025 and 2026, which will be offset by $45 million in annual savings.

Oct 28, 2025, 1:00 PM

Transcript

Noble Corporation Reports Q3 2025 Results, Updates Guidance, and Anticipates Late 2026 Market Inflection

Earnings

Guidance Update

Dividends

Noble Corporation reported Q3 2025 Adjusted EBITDA of $254 million and free cash flow of $139 million, alongside $87 million in net disposal proceeds.
The company declared a $0.50 per share dividend for Q4 2025, contributing to a total 2025 capital return of $340 million.
Backlog increased to $7 billion, significantly boosted by two-year contract extensions for the Noble Black Lion and Noble Black Hornet with BP, valued at $310 million per rig.
Noble narrowed its full-year 2025 guidance for Adjusted EBITDA to $1.1 to $1.125 billion and CapEx net of customer reimbursables to $425 to $450 million.
Management anticipates an EBITDA trough in the first half of 2026, with a material inflection expected from late 2026 onward and a deepwater utilization recovery by late 2026, early 2027.

Oct 28, 2025, 1:00 PM

Transcript

Noble Corporation plc Announces Third Quarter 2025 Results and Narrows Full-Year Guidance

Earnings

Guidance Update

Dividends

Noble Corporation plc reported a Net Loss of $21 million and a Loss per Share of $0.13 for the third quarter of 2025, alongside Adjusted Diluted Earnings per Share of $0.19 and Adjusted EBITDA of $254 million.
The company added approximately $740 million in new contract value since August, increasing its total backlog to $7.0 billion as of October 27, 2025.
Noble narrowed its full-year 2025 guidance, with Total Revenue now expected between $3,225 to $3,275 million, Adjusted EBITDA between $1,100 to $1,125 million, and Capital Expenditures (net of reimbursements) between $425 to $450 million.
A $0.50 per share cash dividend was declared for Q4, bringing the total shareholder capital returns for 2025 to $340 million.

Oct 27, 2025, 8:05 PM

Press Release

Noble Corporation plc Presents at Barclays CEO Energy-Power Conference

Guidance Update

Dividends

Share Buyback

Noble Corporation plc presented an investor update at the Barclays CEO Energy-Power Conference on September 2, 2025.
The company reported a total backlog of $6.9 billion as of August 5, 2025, and a market capitalization of $4.6 billion as of August 28, 2025.
Noble has returned over $1.1 billion to shareholders through dividends and buybacks by September 2025, with an annualized dividend yield of 7% as of August 28, 2025.
The company is actively rationalizing its fleet, including the permanent retirement of Pacific Scirocco & Meltem for $41 million and the planned sale of Noble Highlander for $65 million.
For the twelve months ended June 30, 2025, Noble generated $1.23 billion in Adjusted EBITDA and $446.6 million in Free Cash Flow.

Sep 2, 2025, 11:10 AM

8-K

Earnings Transcripts

Quarterly earnings call transcripts for Noble Corp.

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