Noble (NBLWF) 10-Q6 Nov 242024 Q3 Quarterly reportFinancial data

Company Profile

Cover

Cover - shares	9 Months Ended
Cover - shares	Sep. 30, 2024	Nov. 01, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	001-41520
Entity Registrant Name	Noble Corporation plc
Entity Incorporation, State or Country Code	X0
Entity Tax Identification Number	98-1644664
Entity Address, Address Line One	13135 Dairy Ashford, Suite 800
Entity Address, City or Town	Sugar Land
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77478
City Area Code	(281)
Local Phone Number	276-6100
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Bankruptcy Proceedings, Reporting Current	true
Entity Common Stock, Shares Outstanding		160,370,364
Entity Central Index Key	0001895262
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Amendment Flag	false
Common Stock
Document Information [Line Items]
Title of 12(b) Security	A Ordinary Shares, par value $0.00001 per share
Trading Symbol	NE
Security Exchange Name	NYSE
Tranche 1 Warrants
Document Information [Line Items]
Title of 12(b) Security	Tranche 1 Warrants of Noble Corporation plc
Trading Symbol	NE WS
Security Exchange Name	NYSE
Tranche 2 Warrants
Document Information [Line Items]
Title of 12(b) Security	Tranche 2 Warrants of Noble Corporation plc
Trading Symbol	NE WSA
Security Exchange Name	NYSE

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents	$ 391,858	$ 360,794
Accounts receivable, net	752,270	548,844
Taxes receivable	81,803	39,845
Prepaid expenses and other current assets	184,760	112,265
Total current assets	1,410,691	1,061,748
Intangible assets	1,580	10,128
Property and equipment, at cost	6,795,699	4,591,936
Accumulated depreciation	(746,262)	(467,600)
Property and equipment, net	6,049,437	4,124,336
Other assets	573,436	311,225
Total assets	8,035,144	5,507,437
Current liabilities
Accounts payable	405,907	395,165
Accrued payroll and related costs	119,665	97,313
Taxes payable	109,018	56,420
Interest payable	75,715	10,707
Other current liabilities	190,160	82,075
Total current liabilities	900,465	641,680
Long-term debt	1,981,237	586,203
Deferred income taxes	8,912	11,416
Noncurrent contract liabilities	23,397	50,863
Other liabilities	436,184	296,035
Total liabilities	3,350,195	1,586,197
Commitments and contingencies (Note 10)
Shareholders’ equity
Common stock, $0.00001 par value; 160,341,619 and 140,773,750 ordinary shares outstanding as of September 30, 2024, and December 31, 2023, respectively	1	1
Additional paid-in capital	4,236,409	3,377,048
Retained earnings	445,054	541,159
Accumulated other comprehensive income (loss)	3,485	3,032
Total shareholders’ equity	4,684,949	3,921,240
Total liabilities and equity	$ 8,035,144	$ 5,507,437

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Common stock, par value (in usd per share)	$ 0.00001	$ 0.00001
Ordinary shares, shares outstanding (in shares)	160,341,619	140,773,750

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Operating revenues
Operating revenues	$ 800,549	$ 697,450	$ 2,130,477	$ 1,946,039
Operating costs and expenses
Depreciation and amortization	109,879	77,146	287,347	218,412
General and administrative	43,596	33,039	109,226	95,428
Merger and integration costs	69,214	12,966	89,163	47,049
(Gain) loss on sale of operating assets, net	0	0	(17,357)	0
Hurricane losses and (recoveries), net	0	2,642	0	22,120
Total operating costs and expenses	685,066	496,674	1,697,488	1,529,014
Operating income (loss)	115,483	200,776	432,989	417,025
Other income (expense)
Interest expense, net of amounts capitalized	(24,951)	(13,005)	(54,491)	(44,539)
Gain on bargain purchase	0	5,005	0	5,005
Gain (loss) on extinguishment of debt, net	0	0	0	(26,397)
Interest income and other, net	2,292	17,206	(10,626)	16,292
Income (loss) before income taxes	92,824	209,982	367,872	367,386
Income tax benefit (provision)	(31,608)	(51,659)	(16,167)	(35,184)
Net income (loss)	$ 61,216	$ 158,323	$ 351,705	$ 332,202
Basic:
Net income (loss) (in usd per share)	$ 0.41	$ 1.14	$ 2.43	$ 2.42
Diluted:
Net income (loss) (in usd per share)	$ 0.40	$ 1.09	$ 2.37	$ 2.29
Contract drilling services
Operating revenues
Operating revenues	$ 763,543	$ 671,004	$ 2,036,678	$ 1,852,474
Operating costs and expenses
Cost of services	434,192	354,199	1,159,913	1,078,521
Reimbursables and other
Operating revenues
Operating revenues	37,006	26,446	93,799	93,565
Operating costs and expenses
Cost of services	$ 28,185	$ 16,682	$ 69,196	$ 67,484

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 61,216	$ 158,323	$ 351,705	$ 332,202
Other comprehensive income (loss)
Net changes in pension and other postretirement plan assets and benefit obligations recognized in other comprehensive income (loss), net of tax provision (benefit) of $6 and zero for the three months ended September 30, 2024 and 2023, respectively, and $16 and $2,436 for the nine months ended September 30, 2024 and 2023, respectively.	432	(65)	453	(2,210)
Other comprehensive income (loss), net	432	(65)	453	(2,210)
Comprehensive income (loss)	$ 61,648	$ 158,258	$ 352,158	$ 329,992

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Net changes in pension and other postretirement plan assets and benefit obligations recognized in other comprehensive income (loss), tax provision (benefit)	$ 6	$ 0	$ 16	$ 2,436

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities
Net income (loss)	$ 351,705	$ 332,202
Adjustments to reconcile net income (loss) to net cash flow from operating activities:
Depreciation and amortization	287,347	218,412
Amortization of intangible assets and contract liabilities, net	(46,580)	(95,540)
Gain on bargain purchase	0	(5,005)
(Gain) loss on extinguishment of debt, net	0	26,397
(Gain) loss on sale of operating assets, net	(17,357)	0
Deferred income taxes	(60,151)	(42,445)
Amortization of share-based compensation	35,959	28,058
Other costs, net	(10,157)	7,248
Changes in components of working capital and other operating activities:
Change in taxes receivable	(34,987)	(17,927)
Net changes in other operating assets and liabilities	13,482	(164,552)
Net cash provided by (used in) operating activities	519,261	286,848
Cash flows from investing activities
Capital expenditures	(434,653)	(268,131)
Proceeds from insurance claims	16,426	0
Cash paid in stock-based business combination, net	(400,458)	0
Proceeds from disposal of assets, net	4,885	0
Net cash provided by (used in) investing activities	(813,800)	(268,131)
Cash flows from financing activities
Issuance of debt	824,000	600,000
Borrowings on credit facilities	35,000	0
Repayments of credit facilities	(35,000)	0
Repayments of debt	0	(673,411)
Debt extinguishment costs	0	(25,697)
Debt issuance costs	(10,002)	(24,914)
Warrants exercised	628	156
Share repurchases	(250,000)	(80,000)
Dividend payments	(198,150)	(42,369)
Taxes withheld on employee stock transactions	(57,167)	(8,612)
Other	22,578	0
Net cash provided by (used in) financing activities	331,887	(254,847)
Net increase (decrease) in cash, cash equivalents, and restricted cash	37,348	(236,130)
Cash, cash equivalents, and restricted cash, beginning of period	367,745	485,707
Cash, cash equivalents, and restricted cash, end of period	$ 405,093	$ 249,577

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY - USD ($) $ in Thousands	Total	Shares	Additional Paid-in Capital	Retained Earnings (Accumulated Deficit)	Accumulated Other Comprehensive Income (Loss)
Beginning balance (in shares) at Dec. 31, 2022		134,681,000
Beginning balance at Dec. 31, 2022	$ 3,607,085	$ 1	$ 3,347,507	$ 255,930	$ 3,647
Employee related equity activity
Amortization of share-based compensation	28,058		28,058
Issuance of share-based compensation shares (in shares)		462,000
Shares withheld for taxes on equity transactions	(8,612)		(8,612)
Warrants exercised (in shares)		7,920,000
Warrants exercised	156		156
Share repurchases (in shares)		(2,017,000)
Share repurchases	(80,000)			(80,000)
Dividends	(43,679)			(43,679)
Net income (loss)	332,202			332,202
Other comprehensive income (loss), net	(2,210)				(2,210)
Ending balance (in shares) at Sep. 30, 2023		141,046,000
Ending balance at Sep. 30, 2023	3,833,000	$ 1	3,367,109	464,453	1,437
Beginning balance (in shares) at Jun. 30, 2023		137,084,000
Beginning balance at Jun. 30, 2023	3,719,420	$ 1	3,358,108	359,809	1,502
Employee related equity activity
Amortization of share-based compensation	9,204		9,204
Issuance of share-based compensation shares (in shares)		15,000
Shares withheld for taxes on equity transactions	(257)		(257)
Warrants exercised (in shares)		4,144,000
Warrants exercised	54		54
Share repurchases (in shares)		(197,000)
Share repurchases	(10,000)			(10,000)
Dividends	(43,679)			(43,679)
Net income (loss)	158,323			158,323
Other comprehensive income (loss), net	(65)				(65)
Ending balance (in shares) at Sep. 30, 2023		141,046,000
Ending balance at Sep. 30, 2023	$ 3,833,000	$ 1	3,367,109	464,453	1,437
Beginning balance (in shares) at Dec. 31, 2023	140,773,750	140,774,000
Beginning balance at Dec. 31, 2023	$ 3,921,240	$ 1	3,377,048	541,159	3,032
Employee related equity activity
Amortization of share-based compensation	35,959		35,959
Issuance of share-based compensation shares (in shares)		2,058,000
Shares withheld for taxes on equity transactions	(57,167)		(57,167)
Warrants exercised (in shares)		208,000
Warrants exercised	628		628
Share repurchases (in shares)		(6,938,000)
Share repurchases	(250,000)			(250,000)
Issuance of common stock for Pacific Drilling merger (in shares)		24,240,000
Issuance of common stock for Diamond Offshore Drilling merger	879,941		879,941
Dividends	(197,810)			(197,810)
Net income (loss)	351,705			351,705
Other comprehensive income (loss), net	$ 453				453
Ending balance (in shares) at Sep. 30, 2024	160,341,619	160,342,000
Ending balance at Sep. 30, 2024	$ 4,684,949	$ 1	4,236,409	445,054	3,485
Beginning balance (in shares) at Jun. 30, 2024		142,904,000
Beginning balance at Jun. 30, 2024	3,985,002	$ 1	3,338,030	643,918	3,053
Employee related equity activity
Amortization of share-based compensation	21,632		21,632
Issuance of share-based compensation shares (in shares)		10,000
Shares withheld for taxes on equity transactions	(3,540)		(3,540)
Warrants exercised (in shares)		126,000
Warrants exercised	346		346
Share repurchases (in shares)		(6,938,000)
Share repurchases	(250,000)			(250,000)
Issuance of common stock for Pacific Drilling merger (in shares)		24,240,000
Issuance of common stock for Diamond Offshore Drilling merger	879,941		879,941
Dividends	(10,080)			(10,080)
Net income (loss)	61,216			61,216
Other comprehensive income (loss), net	$ 432				432
Ending balance (in shares) at Sep. 30, 2024	160,341,619	160,342,000
Ending balance at Sep. 30, 2024	$ 4,684,949	$ 1	$ 4,236,409	$ 445,054	$ 3,485

Organization and Basis of Prese

Organization and Basis of Presentation	9 Months Ended
Organization and Basis of Presentation	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Basis of Presentation	Note 1 — Organization and Basis of Presentation Noble Corporation plc, a public limited company incorporated under the laws of England and Wales (“Noble”, the “Company”, or “we”), is a leading offshore drilling contractor for the oil and gas industry. We provide contract drilling services to the international oil and gas industry with our global fleet of mobile offshore drilling units. Noble and its predecessors have been engaged in the contract drilling of oil and gas wells since 1921. As of the filing date of this report, our fleet of 41 drilling rigs consisted of 28 floaters and 13 jackups. We report our contract drilling operations as a single reportable segment, Contract Drilling Services, which reflects how we manage our business. The mobile offshore drilling units comprising our offshore rig fleet operate in a global market for contract drilling services and are often redeployed to different regions due to changing demands of our customers, which consist primarily of large, integrated, independent and government-owned or controlled oil and gas companies throughout the world. The accompanying unaudited condensed consolidated financial statements of Noble have been prepared pursuant to the rules and regulations of the US Securities and Exchange Commission (“SEC”) as they pertain to Quarterly Reports on Form 10-Q. Accordingly, certain information and disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to such rules and regulations. The unaudited financial statements are prepared on a going concern basis and reflect all adjustments that are, in the opinion of management, necessary for a fair statement of the financial position and results of operations for the interim periods, on a basis consistent with the annual audited consolidated financial statements. All such adjustments are of a recurring nature. The December 31, 2023, Condensed Consolidated Balance Sheet presented herein is derived from the December 31, 2023, audited consolidated financial statements. These interim financial statements should be read in conjunction with the audited consolidated financial statements and notes included in our Annual Report on Form 10-K for the year ended December 31, 2023, filed by Noble. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year.

Acquisitions

Acquisitions	9 Months Ended
Acquisitions	Sep. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Acquisitions	Note 2 — Acquisitions Business Combination with Diamond Offshore Drilling On June 9, 2024, Noble entered into an agreement and plan of merger (the “Diamond Merger Agreement”) with Diamond Offshore Drilling, Inc. (“Diamond”), Dolphin Merger Sub 1, Inc., and Dolphin Merger Sub 2, Inc., under which Noble would acquire Diamond in a stock plus cash transaction (the “Diamond Transaction”). On September 4, 2024 (“the Diamond Closing Date”), Noble completed its acquisition of Diamond. Pursuant to the terms and conditions set forth in the Diamond Merger Agreement, Diamond shareholders received 0.2316 shares of Noble, plus cash consideration of $5.65 per share for each share of Diamond. Purchase Price Allocation The Diamond Transaction has been accounted for using the acquisition method of accounting under ASC Topic 805, Business Combinations, with Noble being treated as the accounting acquirer. Under the acquisition method of accounting, the assets acquired and liabilities assumed of Diamond and its subsidiaries were recorded at their respective fair values on the Diamond Closing Date. Total consideration for the acquisition was $1.5 billion, which included $610.3 million in cash paid and $879.9 million in non-cash consideration, primarily related to Noble shares issued to legacy Diamond shareholders and the replacement of legacy Diamond RSUs (as defined below). Determining the fair values of the assets and liabilities of Diamond and the consideration paid required judgment and certain assumptions to be made. The most significant fair value estimates related to the valuation of Diamond’s mobile offshore drilling units and other related tangible assets, the fair value of drilling contracts, and debt. Offshore drilling units. The valuation of Diamond’s mobile offshore drilling units was determined using the discounted cash flows expected to be generated from the drilling assets over their remaining useful lives. Assumptions used in our assessment included, but were not limited to, future marketability of each unit in light of the current market conditions and its current technical specifications, timing of future contract awards and expected operating dayrates, operating costs, rig utilization rates, tax rates, discount rate, capital expenditures, synergies, market values, estimated economic useful lives of the rigs and, in certain cases, our belief that a drilling unit is no longer marketable and is unlikely to return to service in the near to medium term. Diamond off-market contracts . The Company recorded, with the assistance of external valuation specialists, liabilities from drilling contracts that had unfavorable terms compared to the current market which were recorded on the Diamond Closing Date. The Company recognized the fair value adjustments as off-market contract liabilities recorded in “Noncurrent contract liabilities.” Diamond debt. In connection with the Diamond Transaction, the Company assumed Diamond’s outstanding principal debt of $550 million and terminated Diamond’s $300 million senior secured revolving credit facility (the “Diamond RCF”), which was scheduled to mature in April 2026. The valuation of the Diamond Second Lien Notes (as defined herein) was based on relevant market data as of the Diamond Closing Date and the term of the notes. Considering that the interest rate and implied yield for the Diamond Second Lien Notes were within a range of comparable market yields (with considerations for term and seniority), a fair value adjustment was recorded relating to the notes. For additional information, see “Note 6 — Debt.” The following table represents the allocation of the total purchase price of Diamond to the identifiable assets acquired and the liabilities assumed based on the fair values as of the Diamond Closing Date. In connection with this acquisition, the Company incurred $69.4 million of acquisition related costs during the nine months ended September 30, 2024. The results of Diamond operations were included in the Company’s results of operations effective on the Diamond Closing Date. The amounts recognized will be finalized as the information necessary to complete the analysis is obtained, but no later than one year after the Diamond Closing Date. Any final adjustment to the valuation could change the fair values assigned to the assets and liabilities, resulting in a change to our consolidated financial statements. Such change could be material. Purchase price consideration: Fair value of Noble shares transferred to legacy Diamond shareholders $ 857,678 Fair value of replacement Diamond RSU Awards attributable to the purchase price 22,263 Cash paid to legacy Diamond shareholders 583,152 Cash paid to terminate the Diamond RCF 308 Cash paid to settle contingent success fees 17,316 Cash paid for retention bonuses 4,422 Cash paid for short-term incentive plans 5,086 Total purchase price consideration $ 1,490,225 Assets acquired: Cash and cash equivalents $ 209,826 Accounts receivable, net 193,194 Taxes receivable 6,971 Prepaid expenses and other current assets 74,739 Total current assets 484,730 Property, plant, and equipment, net 1,834,890 Assets held for sale (1) 5,300 Other assets 172,936 Total assets acquired 2,497,856 Liabilities assumed: Accounts payable 82,805 Accrued payroll and related costs 36,791 Taxes payable 28,629 Interest payable 19,750 Other current liabilities 132,142 Total current liabilities 300,117 Long-term debt 580,250 Deferred income taxes 184 Noncurrent contract liabilities 27,663 Other liabilities 99,417 Total liabilities assumed 1,007,631 Net assets acquired $ 1,490,225 (1) During the third quarter of 2024, we sold the Ocean Valiant for total proceeds of $5.6 million. Diamond Revenue and Net Income The following table represents Diamond’s revenue and earnings included in Noble’s Condensed Consolidated Statements of Operations subsequent to the Diamond Closing Date of the Diamond Transaction. Period from Revenue $ 94,380 Net income (loss) $ 2,690 Pro Forma Financial Information The following unaudited pro forma summary presents the results of operations as if the Diamond Transaction had occurred on January 1, 2023. The pro forma summary uses estimates and assumptions based on information available at the time. Management believes the estimates and assumptions to be reasonable; however, actual results may have differed significantly from this pro forma financial information. The pro forma information does not reflect any synergy savings that might have been achieved from combining the operations and is not intended to reflect the actual results that would have occurred had the companies actually been combined during the periods presented. Three Months Ended September 30, 2024 Nine Months Ended September 30, 2024 Three Months Ended September 30, 2023 Nine Months Ended September 30, 2023 Revenue $ 997,566 $ 2,854,991 $ 942,410 $ 2,704,609 Net income (loss) $ 81,406 $ 369,124 $ (28,061) $ 265,772 Net income (loss) per share: Basic $ 0.41 $ 1.92 $ (0.17) $ 1.65 Diluted $ 0.4 $ 1.86 $ (0.17) $ 1.55 The pro forma results include, among others, (i) a reduction in Diamond’s historically reported depreciation expense related to adjustments of property and equipment values, (ii) adjustments to reflect certain acquisition related costs incurred directly in connection with the Diamond Transaction as if it had occurred on January 1, 2023, and (iii) net adjustments to increase contract drilling services revenue related to off-market customer contract liabilities recognized in connection with the Diamond Transaction on a pro forma basis.

Accounting Pronouncements

Accounting Pronouncements	9 Months Ended
Accounting Pronouncements	Sep. 30, 2024
Accounting Standards Update and Change in Accounting Principle [Abstract]
Accounting Pronouncements	Note 3 — Accounting Pronouncements Accounting Standards Adopted There have been no new accounting standards adopted during the current quarter. Recently Issued Accounting Standards In November 2024, the FASB issued ASU No. 2024-03 ("ASU 2024-03"), Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. The amendments in this Update require disclosure, in the notes to financial statements, of specified information about certain costs and expenses. An entity is not precluded from providing additional voluntary disclosures that may provide investors with additional decision-useful information. The amendments in this Update are effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. Early adoption is permitted. The Company continues to assess the potential impact of this pronouncement. In December 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2023-09 ("ASU 2023-09"), Income Taxes (Topic 740): Improvements to Income Tax Disclosures , which requires, among other things, the following for public business entities: (i) enhanced disclosures of specific categories of reconciling items included in the rate reconciliation, as well as additional information for any of these items meeting certain qualitative and quantitative thresholds, (ii) disclosure of the nature, effect, and underlying causes of each individual reconciling item disclosed in the rate reconciliation and the judgment used in categorizing them if not otherwise evident, and (iii) enhanced disclosures for income taxes paid, which includes federal, state, and foreign taxes, as well as for individual jurisdictions over a certain quantitative threshold. The amendments in ASU 2023-09 eliminate the requirement to disclose the nature and estimate of the range of the reasonably possible change in unrecognized tax benefits for the 12 months after the balance sheet date. The provisions of ASU 2023-09 are effective for annual periods beginning after December 15, 2024; early adoption is permitted. The Company continues to evaluate the potential impact of this pronouncement. In November 2023, the FASB issued ASU No. 2023-07 ("ASU 2023-07"), Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures , which requires, among other things, the following: (i) enhanced disclosures about significant segment expenses that are regularly provided to the chief operating decision maker and included in a segment's reported measure of profit or loss, (ii) disclosure of the amount and description of the composition of other segment items, as defined in ASU 2023-07, by reportable segment, and (iii) reporting the disclosures about each reportable segment's profit or loss and assets on an annual and interim basis. The provisions of ASU 2023-07 are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024; early adoption is permitted. The Company continues to evaluate the potential impact of this pronouncement.

Income (Loss) Per Share

Income (Loss) Per Share	9 Months Ended
Income (Loss) Per Share	Sep. 30, 2024
Earnings Per Share [Abstract]
Income (Loss) Per Share	Note 4 — Income (Loss) Per Share The following table presents the computation of basic and diluted income (loss) per share: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Numerator: Basic Net income (loss) $ 61,216 $ 158,323 $ 351,705 $ 332,202 Denominator: Weighted average shares outstanding – basic 149,727 139,400 144,863 137,478 Dilutive effect of share-based awards 1,877 3,204 1,877 3,204 Dilutive effect of warrants 1,334 3,117 1,502 4,339 Weighted average shares outstanding – diluted 152,938 145,721 148,242 145,021 Per share data: Basic Net income (loss) $ 0.41 $ 1.14 $ 2.43 $ 2.42 Diluted Net income (loss) $ 0.40 $ 1.09 $ 2.37 $ 2.29 Only those items having a dilutive impact on our basic income (loss) per share are included in diluted income (loss) per share. The following table displays the share-based instruments that have been excluded from diluted income (loss) per share since the effect would have been anti-dilutive: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Warrants (1) 10,242 2,774 10,242 2,774 (1) Represents the total number of warrants outstanding which did not have a dilutive effect. In periods where the warrants are determined to be dilutive, the number of shares which will be included in the computation of diluted shares is determined using the Treasury Stock Method, adjusted for mandatory exercise provisions under the warrant agreements, if applicable. Settlement of the Diamond Transaction On September 4, 2024, Noble issued 24,239,941 class A ordinary shares of Noble to former shareholders of Diamond, in connection with the closing of the Diamond acquisition. Further, Noble assumed all outstanding and unexercised warrants of Diamond, which will be exercisable for 90 days from the effective time of the Diamond acquisition. Following such 90-day exercise period, the warrants assumed from Diamond will no longer be exercisable and will expire in accordance with their terms. Assumption of Diamond RSUs On September 4, 2024, in connection with the closing of the acquisition of Diamond, each performance-vesting and time-vesting restricted stock unit covering shares of Diamond (together "Diamond RSUs") held by key employees were assumed by Noble and represented the right to receive shares in Noble. The Diamond RSUs were assumed by Noble on substantially the same terms and conditions (including vesting conditions) as applicable to the original Diamond RSUs prior to the closing of the acquisition. Notwithstanding the foregoing, to the extent that a Diamond RSU vested as of the acquisition (including any awards that vested as a result of a termination of employment at or immediately after the acquisition), such awards were instead settled in cash or shares of Diamond, as applicable, immediately prior to the acquisition and any such shares of Diamond were treated the same as other Diamond shares. Share Capital As of September 30, 2024, Noble had approximately 160.3 million A ordinary shares, par value $0.00001 per share (“Ordinary Shares”) outstanding as compared to approximately 140.8 million Ordinary Shares outstanding at December 31, 2023. In addition, as of September 30, 2024, 0.9 million Tranche 1 Warrants, 1.0 million Tranche 2 Warrants, 2.8 million Tranche 3 Warrants, and 7.5 million Diamond Warrants (each as defined herein) were outstanding and exercisable. We also have 6.7 million Ordinary Shares authorized and reserved for issuance pursuant to equity awards under the Noble Corporation plc 2022 Long-Term Incentive Plan. Our most recent quarterly dividend payment to shareholders, totaling approximately $81.6 million (or $0.50 per share), was declared on June 10, 2024, and paid on September 26, 2024, to shareholders of record at close of business on September 12, 2024. The declaration and payment of dividends require authorization of the Board of Directors, provided that such dividends on issued share capital may be paid only out of the Company’s “distributable reserves” as determined by reference to relevant statutory accounts in accordance with English law. The Company is not permitted to pay dividends out of share capital, which includes share premiums. The payment of future dividends will depend on our results of operations, financial condition, cash requirements, future business prospects, the availability of sufficient distributable reserves, contractual and indenture restrictions, and other factors deemed relevant by the Board of Directors. Share Repurchases Under law, the Company is only permitted to purchase its own Ordinary Shares by way of an “off-market purchase” pursuant to a contract approved by shareholders. Such purchases may be paid for only out of Noble’s “distributable reserves” as determined by reference to relevant statutory accounts in accordance with law. As of the date of this report, we have shareholder authority to repurchase up to 15% per annum of the issued share capital of the Company as of the beginning of each fiscal year for a five-year period (subject to an overall aggregate maximum of 20,601,161 Ordinary Shares). During the three and nine months ended September 30, 2024, we repurchased 6.9 million of our Ordinary Shares. During the three and nine months ended September 30, 2023, we repurchased 0.2 million and 2.0 million of our Ordinary Shares, respectively. All repurchased shares were subsequently cancelled. Warrants The tranche 1 warrants (the “Tranche 1 Warrants”) are exercisable for one Ordinary Share per warrant at an exercise price of $19.27 per warrant, the tranche 2 warrants (the “Tranche 2 Warrants”) are exercisable for one Ordinary Share per warrant at an exercise price of $23.13 per warrant, and the tranche 3 warrants (the “Tranche 3 Warrants”) are exercisable for one Ordinary Share per warrant at an exercise price of $124.40 per warrant. Warrants originally issued by Diamond Offshore Drilling, Inc. (the “Diamond Warrants”) are exercisable through December 3, 2024, for $5.65 in cash and 0.2316 Ordinary Shares at an exercise price of $29.22 per Diamond Warrant.

Property and Equipment

Property and Equipment	9 Months Ended
Property and Equipment	Sep. 30, 2024
Property, Plant and Equipment [Abstract]
Property and Equipment	Note 5 — Property and Equipment Property and equipment, at cost, for Noble consisted of the following: September 30, 2024 December 31, 2023 Drilling equipment and facilities $ 6,567,828 $ 4,338,229 Construction in progress 170,696 210,759 Other 57,175 42,948 Property and equipment, at cost $ 6,795,699 $ 4,591,936 Capital additions, including capitalized interest, during the three months ended September 30, 2024 and 2023, totaled $107.7 million and $88.6 million, respectively, and during the nine months ended September 30, 2024 and 2023, totaled $374.3 million and $259.4 million, respectively. During the second quarter of 2024, we sold the Noble Explorer for total proceeds of $25.0 million, $21.5 million of which was received in the fourth quarter of 2023, resulting in a pre-tax gain of $17.4 million.

Debt

Debt	9 Months Ended
Debt	Sep. 30, 2024
Debt Disclosure [Abstract]
Debt	Note 6 — Debt Amended and Restated Senior Secured Revolving Credit Agreement In April 2023, Noble entered into the Amended and Restated Senior Secured Revolving Credit Agreement, dated April 18, 2023, and as amended on June 24, 2024 (the “2023 Revolving Credit Agreement”), by and among Noble Finance II LLC (“Noble Finance II”), Noble International Finance Company, and Noble Drilling A/S, as borrowers, the lenders and issuing banks party thereto from time to time and JPMorgan Chase Bank, N.A., as administrative agent, collateral agent, and security trustee (the 2023 Revolving Credit Agreement and the facility thereunder, the “2023 Revolving Credit Facility”). The 2023 Revolving Credit Facility provides for commitments of $550.0 million with maturity in 2028. The guarantors (the “Guarantors”) under the 2023 Revolving Credit Facility are the same subsidiaries of Noble Finance II that are or will be guarantors of the 2030 Notes (as defined below). As of September 30, 2024, we had no borrowings outstanding and $24.0 million of letters of credit issued under the 2023 Revolving Credit Agreement. 8.000% Senior Notes due 2030 In April 2023, Noble Finance II, a wholly owned subsidiary of Noble, issued the $600.0 million in aggregate principal amount of its 8.000% Senior Notes due 2030. In August 2024, Noble Finance II issued an additional $800.0 million in aggregate principal amount of its 8.000% Senior Notes due 2030 at a premium of 103% bringing the total outstanding principal amount to $1.4 billion (collectively, the “2030 Notes”). The 2030 Notes were issued pursuant to an indenture, dated April 18, 2023, among Noble Finance II, certain subsidiaries of Noble Finance II (the Guarantors), and U.S. Bank Trust Company, National Association, as trustee. The 2030 Notes are unconditionally guaranteed on a senior unsecured basis by the Guarantors and will be unconditionally guaranteed on the same basis by certain of Noble Finance II’s future subsidiaries that guarantee certain indebtedness of Noble Finance II and the Guarantors, including the 2023 Revolving Credit Facility. The 2030 Notes will mature on April 15, 2030, and interest on the 2030 Notes is payable semi-annually in arrears on each April 15 and October 15, commencing October 15, 2023, to holders of record on the April 1 and October 1 immediately preceding the related interest payment date, at a rate of 8.000% per annum. Diamond Second Lien Notes due 2030 On September 21, 2023, Diamond Foreign Asset Company and Diamond Finance, LLC (collectively referred to as the “Issuers”) issued $550.0 million aggregate principal amount of 8.500% Senior Secured Second Lien Notes due October 2030 (or the “Diamond Second Lien Notes”) with interest payable semi-annually in arrears on April 1 and October 1 of each year, beginning on April 1, 2024. The Diamond Second Lien Notes are fully and unconditionally guaranteed, jointly and severally, on a senior secured basis by Noble Offshore Drilling, Inc. (or “NODI”, formerly Diamond Offshore Drilling, Inc.) and each of its existing restricted subsidiaries (other than the Issuers) and by certain of NODI’s future restricted subsidiaries (other than the Issuers). The Diamond Second Lien Notes obligate NODI and its specified subsidiaries to comply with an indenture dated as of September 21, 2023, (or the Indenture) entered into by the Issuers, NODI, and certain of its subsidiaries named therein and HSBC Bank USA, National Association. The Indenture contains covenants that, among other things, restrict NODI’s ability and the ability of certain of its subsidiaries to: (i) incur additional debt and issue certain preferred stock; (ii) incur or create liens; (iii) make certain dividends, distributions, investments, and other restricted payments; (iv) sell or otherwise dispose of certain assets; (v) engage in certain transactions with affiliates; and (vi) merge, consolidate, amalgamate, or sell, transfer, lease, or otherwise dispose of all or substantially all of NODI’s assets. These covenants are subject to important exceptions and qualifications. Noble Second Lien Notes On February 5, 2021, pursuant to the Backstop Commitment Agreement, dated October 12, 2020, among the Debtors and the backstop parties thereto, Noble Cayman and Noble Finance Company consummated the Rights Offering of the Noble Second Lien Notes and associated Noble Cayman Shares at an aggregate subscription price of $200.0 million. On April 18, 2023, we redeemed the remaining balance of approximately $173.7 million aggregate principal amount of outstanding Noble Second Lien Notes using a portion of the proceeds from the offering of the 2030 Notes, and recognized a loss of approximately $25.7 million. DNB Credit Facility and New DNB Credit Facility On October 3, 2022 (the “Closing Date”), the merger, pursuant to a Business Combination Agreement, dated November 10, 2021, as amended (the “Business Combination”) by and among Noble, the Drilling Company of 1972 A/S, a Danish public limited liability company (“Maersk Drilling”) and the other parties thereto, became effective and Noble guaranteed the Term and Revolving Facilities Agreement dated December 6, 2018, by and among Maersk Drilling, the rig owners and material intragroup charterers party thereto and DNB Bank ASA as agent (as amended from time to time, the “DNB Credit Facility”) and on December 22, 2022, it was terminated and replaced with the New DNB Credit Facility. On April 18, 2023, we repaid the $347.5 million of outstanding borrowings under the New DNB Credit Facility using a portion of the proceeds from the offering of the 2030 Notes, and recognized a loss of approximately $0.7 million. DSF Credit Facility The Company guaranteed the DSF Credit Facility in connection with the Business Combination, and it was repaid in full on February 23, 2023, using cash on hand. Diamond Credit Facility On September 4, 2024, in connection with the closing of the Diamond Transaction, Noble terminated Diamond’s $300 million senior secured revolving credit facility, which was scheduled to mature on April 22, 2026. At the time of the merger and termination, Diamond had no outstanding borrowings under the facility. Fair Value of Debt Fair 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 values of each of the Revolving Credit Facility, the New DNB Credit Facility and the DSF 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: September 30, 2024 December 31, 2023 Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Senior secured notes 8.000% Senior Notes due April 2030 $ 1,401,271 $ 1,445,416 $ 586,203 $ 626,472 8.500% Senior Secured Second Lien Notes due October 2030 579,966 574,838 — — Total debt 1,981,237 2,020,254 586,203 626,472 Less: Current maturities of long-term debt — — — — Long-term debt $ 1,981,237 $ 2,020,254 $ 586,203 $ 626,472

Revenue and Customers

Revenue and Customers	9 Months Ended
Revenue and Customers	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenue and Customers	Note 7 — Revenue and Customers Disaggregation of Revenue The following table provides information about contract drilling services revenue by rig types: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Floaters $ 605,327 $ 549,130 1,617,538 1,519,346 Jackups 158,216 121,874 419,140 333,128 Total $ 763,543 $ 671,004 $ 2,036,678 $ 1,852,474 Contract Balances Accounts 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 deferred revenue and contract costs resulting from past transactions related to the provision of services under contracts with customers. Current contract asset and liability balances are included in “Prepaid expenses and other current assets” and “Other current liabilities,” respectively, and noncurrent contract assets and liabilities are included in “Other assets” and “Other liabilities,” respectively, on our Condensed Consolidated Balance Sheets. Off-market customer contract assets and liabilities have been recognized in connection with our emergence from Chapter 11, the Business Combination with Maersk Drilling, and the Diamond Transaction, and are included in “Intangible assets” and “Noncurrent contract liabilities,” respectively. The following table provides information about contract assets and contract liabilities from contracts with customers: September 30, 2024 December 31, 2023 Current customer contract assets $ 17,166 $ 4,208 Noncurrent customer contract assets 13,759 208 Total customer contract assets 30,925 4,416 Current deferred revenue (48,148) (19,679) Noncurrent deferred revenue (37,721) (23,393) Total deferred revenue $ (85,869) $ (43,072) Significant changes in the remaining performance obligation contract assets and the contract liabilities balances for the nine months ended September 30, 2024 and 2023, are as follows: Contract Assets Contract Liabilities Net balance at December 31, 2023 $ 4,416 $ (43,072) Amortization of deferred costs (17,088) — Additions to deferred costs 43,597 — Amortization of deferred revenue — 54,411 Additions to deferred revenue — (97,208) Total 26,509 (42,797) Net balance at September 30, 2024 $ 30,925 $ (85,869) Net balance at December 31, 2022 $ 11,537 $ (59,797) Amortization of deferred costs (21,722) — Additions to deferred costs 13,356 — Amortization of deferred revenue — 62,125 Additions to deferred revenue — (35,891) Total (8,366) 26,234 Net balance at September 30, 2023 $ 3,171 $ (33,563) Contract Costs Certain direct and incremental costs incurred for upfront preparation, initial rig mobilization and modifications are costs of fulfilling a contract and are recoverable. These recoverable costs are deferred and amortized ratably to contract drilling expense as services are rendered over the initial term of the related drilling contract. Certain of our contracts include capital rig enhancements used to satisfy our performance obligations. Off-market Customer Contract Assets and Liabilities Upon emergence from Chapter 11, the Company recognized fair value adjustments of $113.4 million related to intangible assets for certain favorable customer contracts, which were fully amortized as of August 2023. In addition, in connection with the Business Combination with Maersk Drilling, the Company recognized additional fair value adjustments of $23.0 million. These intangible assets will be amortized as a reduction of contract drilling services revenue from the Closing Date through the remainder of the contracts. In connection with the Business Combination with Maersk Drilling and the Diamond Transaction, the Company recognized fair value adjustments of $237.7 million and $27.7 million, respectively, related to certain unfavorable customer contracts acquired. These liabilities will be amortized as an increase to contract drilling services revenue from the Closing Date and the Diamond Closing Date through the remainder of the contracts. Unfavorable Favorable Balance at December 31, 2023 $ (50,863) $ 10,128 Additions (27,663) — Amortization 55,129 (8,549) Balance at September 30, 2024 $ (23,397) $ 1,579 Balance at December 31, 2022 $ (181,883) $ 34,372 Additions — — Amortization 118,571 (23,031) Balance at September 30, 2023 $ (63,312) $ 11,341 Estimated future amortization over the expected remaining contract periods: For the Year Ended December 31, 2024 2025 Total Unfavorable contracts $ 14,531 $ 8,866 $ 23,397 Favorable contracts (1,365) (214) (1,579) Total $ 13,166 $ 8,652 $ 21,818

Income Taxes

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Note 8 — Income Taxes At September 30, 2024, the Company had deferred tax assets of $340.9 million , net of valuation allowance. Additionally, the Company also had deferred tax liabilities of $8.9 million , inclusive of a valuation allowance of $18.2 million . During the three months ended September 30, 2024, the Company recognized additional discrete deferred tax benefits of $36.2 million related to releases and adjustments of valuation allowance for deferred tax benefits in Guyana and Luxembourg. During the nine months ended September 30, 2024, the Company recognized additional discrete deferred tax benefits of $117.8 million related to releases and adjustments of valuation allowance for deferred tax benefits in Guyana, Nigeria, Switzerland, and Luxembourg. During the three months ended September 30, 2023, the Company recognized additional discrete deferred tax benefits of $17.2 million related to releases and adjustments of valuation allowance for deferred tax benefits in Guyana, Norway, Switzerland, and Luxembourg. During the nine months ended September 30, 2023, the Company recognized additional discrete deferred tax benefits of $80.8 million, $18.1 million, $10.5 million, and $4.1 million in Guyana, Luxembourg, Switzerland, and Norway, respectively. In deriving the above net deferred tax benefits, the Company relied on sources of income attributable to the projected taxable income for the period covered by the Company’s relevant existing drilling contracts based on the assumption that the relevant rigs will be owned by the relevant rig owners during the relevant existing drilling contract periods. Given the mobile nature of the Company’s assets, we are not able to reasonably forecast the jurisdictions in which taxable income from future drilling contracts may arise. We also have limited objective positive evidence in historical periods. Accordingly, in determining the amount of additional deferred tax assets to recognize, we did not consider projected book income beyond the conclusion of existing drilling contracts. As new drilling contracts are executed or as current contracts are extended, we will reassess the amount of deferred tax assets that are realizable. Finally, once we have established sufficient objective positive evidence for historical periods, we may consider reliance on forecasted taxable income from future drilling contracts. At September 30, 2024, the reserves for uncertain tax positions totaled $208.4 million (net of related tax benefits of $8.8 million ). At December 31, 2023, the reserves for uncertain tax positions totaled $202.3 million (net of related tax benefits of $0.1 million). It is reasonably possible that our existing liabilities related to our reserve for uncertain tax positions may fluctuate in the next 12 months primarily due to the completion of open audits or the expiration of statutes of limitation. During the three months ended September 30, 2024, our tax provision included tax benefits of $36.2 million related to releases of valuation allowance for deferred tax benefits primarily in Luxembourg. Such tax benefits are offset by tax expenses related to recurring quarterly accruals of $67.8 million mostly in Guyana, Luxembourg, Switzerland, and Nigeria. During the nine months ended September 30, 2024, our tax provision included tax benefits of $117.8 million related to releases and adjustments of valuation allowance for deferred tax benefits in Nigeria, Switzerland, and Luxembourg. Such tax benefits are offset by recurring quarterly accruals of $134.0 million mostly in Guyana, Luxembourg, Switzerland, and Nigeria.

Employee Benefit Plans

Employee Benefit Plans	9 Months Ended
Employee Benefit Plans	Sep. 30, 2024
Retirement Benefits [Abstract]
Employee Benefit Plans	Note 9 — Employee Benefit Plans Pension costs (gain) include the following components: Three Months Ended September 30, 2024 2023 Non-US US Non-US US Interest cost $ 608 $ 2,188 $ 508 $ 2,248 Return on plan assets (665) (2,311) (433) (2,394) Recognized net actuarial (gain) loss 28 — 54 (58) Net pension benefit cost (gain) $ (29) $ (123) $ 129 $ (204) Nine Months Ended September 30, 2024 2023 Non-US US Non-US US Interest cost $ 1,642 $ 6,563 1,632 6,744 Return on plan assets (1,796) (6,932) (1,392) (7,184) Recognized net actuarial (gain) loss 77 — 176 (173) Net pension benefit cost (gain) $ (77) $ (369) $ 416 $ (613) During the three and nine months ended September 30, 2024 and 2023, we made no contributions to our pension plans. Effective December 31, 2016, employees and alternate payees accrue no future benefits under the US plans and, as such, Noble recognized no service costs with the plans for the three and nine months ended September 30, 2024 and 2023.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 10 — Commitments and Contingencies Tax Matters Audit claims of approximately $390.5 million attributable to income and other business taxes remain outstanding and are under continued objection by Noble. Such audit claims are primarily attributable to Brazil, Egypt, Ghana, and Guyana. We intend to vigorously defend our reported positions and currently believe the ultimate resolution of the audit claims will not have a material adverse effect on our condensed consolidated financial statements. This remains under continued monitoring and evaluation on a quarterly basis as facts change and as audits and/or litigation continue to progress. We operate in numerous countries throughout the world and our tax returns filed in those jurisdictions are subject to review and examination by tax authorities within those jurisdictions. We recognize uncertain tax positions that we believe have a greater than 50% likelihood of being sustained upon challenge by a tax authority. We cannot predict or provide assurance as to the ultimate outcome of any existing or future assessments. Hurricane Ida Personal Injury Claims In preparation for Hurricane Ida in the US Gulf of Mexico in August 2021, the Noble Globetrotter II successfully secured the well it was drilling and detached from the blowout preventer without incident. Due to the environmental conditions, a number of crew members were treated for injuries and released from medical care. We have had multiple parties, some of which are subject to a third-party contractual indemnity to our benefit, who have filed answers to the Limitation of Liability Action in the United States District Court Western District of Louisiana, seeking damages related to physical and emotional harm allegedly suffered as a result of the Hurricane Ida incident. We are in the discovery phase and we intend to defend ourselves vigorously against these claims, although there is inherent risk in litigation, and we cannot predict or provide assurance as to the ultimate outcome of this lawsuit. As claims progress, the Company’s estimated loss could change from time to time, and any such change individually or in the aggregate could be material. We have insurance for such claims with a deductible of $5.0 million, in addition to contractual indemnity owed to us for a portion of the third-party claims. Timing differences are likely to exist between any losses incurred and the recognition and receipt of insurance proceeds reflected in the Company’s financial statements. Costs, as well as insurance recoveries, are presented in “Hurricane losses and (recoveries), net” on the Condensed Consolidated Statement of Operations. Services Agreement In February 2016, Diamond entered into a ten-year agreement with a subsidiary of Baker Hughes Company (formerly named Baker Hughes, a GE company) to provide services with respect to certain blowout preventer and related well control equipment on our drillships. Such services include management of maintenance, certification, and reliability with respect to such equipment. Future commitments under the contractual services agreements are estimated to be approximately $24.7 million annually. Total future commitments are projected to be $73.6 million in the aggregate over the remaining term of the agreement, including a $37.0 million commitment for the purchase of consumables and capital spare parts owned and controlled by the vendor at the end of the service arrangement. Letters of Credit and Surety bonds As of September 30, 2024, we had $24.0 million of letters of credit issued under the 2023 Revolving Credit Facility and an additional $114.7 million in letters of credit and surety bonds issued under bilateral arrangements which guarantee our performance as it relates to our drilling contracts, contract bidding, tax appeals, customs duties, and other obligations in various jurisdictions. We expect to comply with the underlying performance requirements and we expect obligations under these letters of credit and surety bonds will not be called. Other Contingencies We are a defendant in certain claims and litigation arising out of operations in the ordinary course of business, including other personal injury claims, the resolution of which, in the opinion of management, will not be material to our financial position, results of operations, or cash flows. There is inherent risk in any litigation or dispute and no assurance can be given as to the outcome of these claims.

Supplemental Financial Informat

Supplemental Financial Information	9 Months Ended
Supplemental Financial Information	Sep. 30, 2024
Supplemental Financial Information [Abstract]
Supplemental Financial Information	Note 11 — Supplemental Financial Information Condensed Consolidated Balance Sheets Information Restricted cash Noble’s restricted cash balance as of September 30, 2024, and December 31, 2023, was $13.2 million and $7.0 million, respectively. All restricted cash is recorded in “Prepaid expenses and other current assets.” Leases We determine if an arrangement is a lease at inception. Our lease agreements are primarily for real estate, equipment, storage, dock space, and automobiles and are included within “Other assets”, “Other current liabilities”, and “Other liabilities” on our Condensed Consolidated Balance Sheets. In connection with the Diamond Transaction, the Company assumed several leases entered into by Diamond consisting of operating leases for corporate and shorebase offices, office and information technology equipment, employee housing, onshore storage yards, and certain rig equipment and tools as well as finance leases for well control equipment used on the drillships. The finance leases commenced in 2016 and also include an option to purchase the leased equipment at the end of the respective lease term. Supplemental balance sheet information related to leases is as follows: September 30, 2024 December 31, 2023 Operating leases Right-of-use assets $ 83,775 $ 24,528 Current lease liabilities 16,378 10,581 Long-term lease liabilities 69,627 15,082 Finance leases Right-of-use assets $ 44,254 $ — Current lease liabilities 26,443 — Long-term lease liabilities 15,616 — Condensed Consolidated Statements of Cash Flows Information Operating cash activities The net effect of changes in other assets and liabilities on cash flows from operating activities is as follows: Nine Months Ended September 30, 2024 2023 Accounts receivable $ (10,232) $ (169,944) Other current assets 8,624 (30,250) Other assets 153 7,356 Accounts payable (18,136) (721) Other current liabilities 27,592 22,815 Other liabilities 5,481 6,192 Total net change in assets and liabilities $ 13,482 $ (164,552) Non-cash investing and financing activities Non-cash investing and financing activities excluded from unaudited Condensed Consolidated Statements of Cash Flows are as follows: Nine Months Ended September 30, 2024 2023 Accrued capital expenditures at period end $ 60,691 $ 71,291 On September 4, 2024, Noble completed the acquisition of Diamond, which included $400.5 million in net cash paid and $879.9 million in non-cash consideration, primarily related to Noble shares issued to legacy Diamond shareholders and the replacement of legacy Diamond RSU Awards, in exchange for $1.5 billion net assets acquired. See “Note 2 — Acquisitions” for additional information.

Information about Noble Finance

Information about Noble Finance II	9 Months Ended
Information about Noble Finance II	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Information about Noble Finance II	Note 12 — Information about Noble Finance II 8.000% Senior Notes due 2030 Noble Finance II, a wholly owned subsidiary of Noble, or one or more 100% owned subsidiaries of Noble Finance II, is an issuer or full and unconditional guarantor or otherwise obligated as of September 30, 2024, with respect to the 2030 Notes. See “Note 6 — Debt” for additional information. The indenture governing the 2030 Notes contains a covenant that requires Noble Finance II to furnish to holders of the 2030 Notes certain financial information relating to Noble Finance II and its restricted subsidiaries. The obligation to furnish such information may be satisfied by providing financial information of Noble along with a description of the differences between such information and the financial information of Noble Finance II and its restricted subsidiaries on a standalone basis. The summarized financial information below reflects the consolidated accounts of Noble Finance II: September 30, 2024 Balance Sheet Cash and cash equivalents $ 211,596 Total current assets 1,568,804 Total current liabilities 588,894 Total debt 1,401,271 Total shareholders' equity 4,469,705 Nine Months Ended September 30, 2024 Statement of Operations Operating revenues $ 2,035,977 Operating costs and expenses 1,533,046 Depreciation and amortization 275,990 Statement of Cash Flows Net cash provided by (used in) operating activities $ 611,988 Capital expenditures (423,892) Proceeds from disposal of assets, net (690) Dividend payments —

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net income (loss)	$ 61,216	$ 158,323	$ 351,705	$ 332,202

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Sep. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Organization and Basis of Pre_2

Organization and Basis of Presentation (Policies)	9 Months Ended
Organization and Basis of Presentation (Policies)	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	The accompanying unaudited condensed consolidated financial statements of Noble have been prepared pursuant to the rules and regulations of the US Securities and Exchange Commission (“SEC”) as they pertain to Quarterly Reports on Form 10-Q. Accordingly, certain information and disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to such rules and regulations. The unaudited financial statements are prepared on a going concern basis and reflect all adjustments that are, in the opinion of management, necessary for a fair statement of the financial position and results of operations for the interim periods, on a basis consistent with the annual audited consolidated financial statements. All such adjustments are of a recurring nature. The December 31, 2023, Condensed Consolidated Balance Sheet presented herein is derived from the December 31, 2023, audited consolidated financial statements. These interim financial statements should be read in conjunction with the audited consolidated financial statements and notes included in our Annual Report on Form 10-K for the year ended December 31, 2023, filed by Noble. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year.
Accounting Standards Adopted and Recently Issued Accounting Standards	Accounting Standards Adopted There have been no new accounting standards adopted during the current quarter. Recently Issued Accounting Standards In November 2024, the FASB issued ASU No. 2024-03 ("ASU 2024-03"), Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. The amendments in this Update require disclosure, in the notes to financial statements, of specified information about certain costs and expenses. An entity is not precluded from providing additional voluntary disclosures that may provide investors with additional decision-useful information. The amendments in this Update are effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. Early adoption is permitted. The Company continues to assess the potential impact of this pronouncement. In December 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2023-09 ("ASU 2023-09"), Income Taxes (Topic 740): Improvements to Income Tax Disclosures , which requires, among other things, the following for public business entities: (i) enhanced disclosures of specific categories of reconciling items included in the rate reconciliation, as well as additional information for any of these items meeting certain qualitative and quantitative thresholds, (ii) disclosure of the nature, effect, and underlying causes of each individual reconciling item disclosed in the rate reconciliation and the judgment used in categorizing them if not otherwise evident, and (iii) enhanced disclosures for income taxes paid, which includes federal, state, and foreign taxes, as well as for individual jurisdictions over a certain quantitative threshold. The amendments in ASU 2023-09 eliminate the requirement to disclose the nature and estimate of the range of the reasonably possible change in unrecognized tax benefits for the 12 months after the balance sheet date. The provisions of ASU 2023-09 are effective for annual periods beginning after December 15, 2024; early adoption is permitted. The Company continues to evaluate the potential impact of this pronouncement. In November 2023, the FASB issued ASU No. 2023-07 ("ASU 2023-07"), Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures , which requires, among other things, the following: (i) enhanced disclosures about significant segment expenses that are regularly provided to the chief operating decision maker and included in a segment's reported measure of profit or loss, (ii) disclosure of the amount and description of the composition of other segment items, as defined in ASU 2023-07, by reportable segment, and (iii) reporting the disclosures about each reportable segment's profit or loss and assets on an annual and interim basis. The provisions of ASU 2023-07 are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024; early adoption is permitted. The Company continues to evaluate the potential impact of this pronouncement.

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
Acquisitions (Tables)	Sep. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Schedule of Identifiable Assets Acquired and Liabilities Assumed Based on the Fair Values	The following table represents the allocation of the total purchase price of Diamond to the identifiable assets acquired and the liabilities assumed based on the fair values as of the Diamond Closing Date. In connection with this acquisition, the Company incurred $69.4 million of acquisition related costs during the nine months ended September 30, 2024. The results of Diamond operations were included in the Company’s results of operations effective on the Diamond Closing Date. The amounts recognized will be finalized as the information necessary to complete the analysis is obtained, but no later than one year after the Diamond Closing Date. Any final adjustment to the valuation could change the fair values assigned to the assets and liabilities, resulting in a change to our consolidated financial statements. Such change could be material. Purchase price consideration: Fair value of Noble shares transferred to legacy Diamond shareholders $ 857,678 Fair value of replacement Diamond RSU Awards attributable to the purchase price 22,263 Cash paid to legacy Diamond shareholders 583,152 Cash paid to terminate the Diamond RCF 308 Cash paid to settle contingent success fees 17,316 Cash paid for retention bonuses 4,422 Cash paid for short-term incentive plans 5,086 Total purchase price consideration $ 1,490,225 Assets acquired: Cash and cash equivalents $ 209,826 Accounts receivable, net 193,194 Taxes receivable 6,971 Prepaid expenses and other current assets 74,739 Total current assets 484,730 Property, plant, and equipment, net 1,834,890 Assets held for sale (1) 5,300 Other assets 172,936 Total assets acquired 2,497,856 Liabilities assumed: Accounts payable 82,805 Accrued payroll and related costs 36,791 Taxes payable 28,629 Interest payable 19,750 Other current liabilities 132,142 Total current liabilities 300,117 Long-term debt 580,250 Deferred income taxes 184 Noncurrent contract liabilities 27,663 Other liabilities 99,417 Total liabilities assumed 1,007,631 Net assets acquired $ 1,490,225 (1) During the third quarter of 2024, we sold the Ocean Valiant for total proceeds of $5.6 million.
Schedule of Revenue and Earnings of Acquiree Subsequent to Closing of Merger	The following table represents Diamond’s revenue and earnings included in Noble’s Condensed Consolidated Statements of Operations subsequent to the Diamond Closing Date of the Diamond Transaction. Period from Revenue $ 94,380 Net income (loss) $ 2,690
Schedule of Pro Forma Financial Information	The following unaudited pro forma summary presents the results of operations as if the Diamond Transaction had occurred on January 1, 2023. The pro forma summary uses estimates and assumptions based on information available at the time. Management believes the estimates and assumptions to be reasonable; however, actual results may have differed significantly from this pro forma financial information. The pro forma information does not reflect any synergy savings that might have been achieved from combining the operations and is not intended to reflect the actual results that would have occurred had the companies actually been combined during the periods presented. Three Months Ended September 30, 2024 Nine Months Ended September 30, 2024 Three Months Ended September 30, 2023 Nine Months Ended September 30, 2023 Revenue $ 997,566 $ 2,854,991 $ 942,410 $ 2,704,609 Net income (loss) $ 81,406 $ 369,124 $ (28,061) $ 265,772 Net income (loss) per share: Basic $ 0.41 $ 1.92 $ (0.17) $ 1.65 Diluted $ 0.4 $ 1.86 $ (0.17) $ 1.55

Income (Loss) Per Share (Tables

Income (Loss) Per Share (Tables)	9 Months Ended
Income (Loss) Per Share (Tables)	Sep. 30, 2024
Earnings Per Share [Abstract]
Schedule of Computation of Basic and Diluted Income (Loss) Per Share	The following table presents the computation of basic and diluted income (loss) per share: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Numerator: Basic Net income (loss) $ 61,216 $ 158,323 $ 351,705 $ 332,202 Denominator: Weighted average shares outstanding – basic 149,727 139,400 144,863 137,478 Dilutive effect of share-based awards 1,877 3,204 1,877 3,204 Dilutive effect of warrants 1,334 3,117 1,502 4,339 Weighted average shares outstanding – diluted 152,938 145,721 148,242 145,021 Per share data: Basic Net income (loss) $ 0.41 $ 1.14 $ 2.43 $ 2.42 Diluted Net income (loss) $ 0.40 $ 1.09 $ 2.37 $ 2.29
Schedule of Antidilutive Securities Excluded from Diluted Income (Loss) Per Share	The following table displays the share-based instruments that have been excluded from diluted income (loss) per share since the effect would have been anti-dilutive: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Warrants (1) 10,242 2,774 10,242 2,774 (1) Represents the total number of warrants outstanding which did not have a dilutive effect. In periods where the warrants are determined to be dilutive, the number of shares which will be included in the computation of diluted shares is determined using the Treasury Stock Method, adjusted for mandatory exercise provisions under the warrant agreements, if applicable.

Property and Equipment (Tables)

Property and Equipment (Tables)	9 Months Ended
Property and Equipment (Tables)	Sep. 30, 2024
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment, at Cost	Property and equipment, at cost, for Noble consisted of the following: September 30, 2024 December 31, 2023 Drilling equipment and facilities $ 6,567,828 $ 4,338,229 Construction in progress 170,696 210,759 Other 57,175 42,948 Property and equipment, at cost $ 6,795,699 $ 4,591,936

Debt (Tables)

Debt (Tables)	9 Months Ended
Debt (Tables)	Sep. 30, 2024
Debt Disclosure [Abstract]
Schedule of Debt	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: September 30, 2024 December 31, 2023 Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Senior secured notes 8.000% Senior Notes due April 2030 $ 1,401,271 $ 1,445,416 $ 586,203 $ 626,472 8.500% Senior Secured Second Lien Notes due October 2030 579,966 574,838 — — Total debt 1,981,237 2,020,254 586,203 626,472 Less: Current maturities of long-term debt — — — — Long-term debt $ 1,981,237 $ 2,020,254 $ 586,203 $ 626,472

Revenue and Customers (Tables)

Revenue and Customers (Tables)	9 Months Ended
Revenue and Customers (Tables)	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue by Rig Types	The following table provides information about contract drilling services revenue by rig types: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Floaters $ 605,327 $ 549,130 1,617,538 1,519,346 Jackups 158,216 121,874 419,140 333,128 Total $ 763,543 $ 671,004 $ 2,036,678 $ 1,852,474
Schedule of Contract Assets and Contract Liabilities	The following table provides information about contract assets and contract liabilities from contracts with customers: September 30, 2024 December 31, 2023 Current customer contract assets $ 17,166 $ 4,208 Noncurrent customer contract assets 13,759 208 Total customer contract assets 30,925 4,416 Current deferred revenue (48,148) (19,679) Noncurrent deferred revenue (37,721) (23,393) Total deferred revenue $ (85,869) $ (43,072) Significant changes in the remaining performance obligation contract assets and the contract liabilities balances for the nine months ended September 30, 2024 and 2023, are as follows: Contract Assets Contract Liabilities Net balance at December 31, 2023 $ 4,416 $ (43,072) Amortization of deferred costs (17,088) — Additions to deferred costs 43,597 — Amortization of deferred revenue — 54,411 Additions to deferred revenue — (97,208) Total 26,509 (42,797) Net balance at September 30, 2024 $ 30,925 $ (85,869) Net balance at December 31, 2022 $ 11,537 $ (59,797) Amortization of deferred costs (21,722) — Additions to deferred costs 13,356 — Amortization of deferred revenue — 62,125 Additions to deferred revenue — (35,891) Total (8,366) 26,234 Net balance at September 30, 2023 $ 3,171 $ (33,563) Unfavorable Favorable Balance at December 31, 2023 $ (50,863) $ 10,128 Additions (27,663) — Amortization 55,129 (8,549) Balance at September 30, 2024 $ (23,397) $ 1,579 Balance at December 31, 2022 $ (181,883) $ 34,372 Additions — — Amortization 118,571 (23,031) Balance at September 30, 2023 $ (63,312) $ 11,341 Estimated future amortization over the expected remaining contract periods: For the Year Ended December 31, 2024 2025 Total Unfavorable contracts $ 14,531 $ 8,866 $ 23,397 Favorable contracts (1,365) (214) (1,579) Total $ 13,166 $ 8,652 $ 21,818

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	9 Months Ended
Employee Benefit Plans (Tables)	Sep. 30, 2024
Retirement Benefits [Abstract]
Schedule of Pension Costs (Gains)	Pension costs (gain) include the following components: Three Months Ended September 30, 2024 2023 Non-US US Non-US US Interest cost $ 608 $ 2,188 $ 508 $ 2,248 Return on plan assets (665) (2,311) (433) (2,394) Recognized net actuarial (gain) loss 28 — 54 (58) Net pension benefit cost (gain) $ (29) $ (123) $ 129 $ (204) Nine Months Ended September 30, 2024 2023 Non-US US Non-US US Interest cost $ 1,642 $ 6,563 1,632 6,744 Return on plan assets (1,796) (6,932) (1,392) (7,184) Recognized net actuarial (gain) loss 77 — 176 (173) Net pension benefit cost (gain) $ (77) $ (369) $ 416 $ (613)

Supplemental Financial Inform_2

Supplemental Financial Information (Tables)	9 Months Ended
Supplemental Financial Information (Tables)	Sep. 30, 2024
Supplemental Financial Information [Abstract]
Schedule of Supplemental Balance Sheet Information Related to Leases	Supplemental balance sheet information related to leases is as follows: September 30, 2024 December 31, 2023 Operating leases Right-of-use assets $ 83,775 $ 24,528 Current lease liabilities 16,378 10,581 Long-term lease liabilities 69,627 15,082 Finance leases Right-of-use assets $ 44,254 $ — Current lease liabilities 26,443 — Long-term lease liabilities 15,616 —
Schedule of Effect of Changes in Other Assets and Liabilities on Cash Flows from Operating Activities	The net effect of changes in other assets and liabilities on cash flows from operating activities is as follows: Nine Months Ended September 30, 2024 2023 Accounts receivable $ (10,232) $ (169,944) Other current assets 8,624 (30,250) Other assets 153 7,356 Accounts payable (18,136) (721) Other current liabilities 27,592 22,815 Other liabilities 5,481 6,192 Total net change in assets and liabilities $ 13,482 $ (164,552)
Schedule of Non-Cash Investing and Financing Activities	Non-cash investing and financing activities excluded from unaudited Condensed Consolidated Statements of Cash Flows are as follows: Nine Months Ended September 30, 2024 2023 Accrued capital expenditures at period end $ 60,691 $ 71,291

Information about Noble Finan_2

Information about Noble Finance II (Tables)	9 Months Ended
Information about Noble Finance II (Tables)	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Financial Information	The summarized financial information below reflects the consolidated accounts of Noble Finance II: September 30, 2024 Balance Sheet Cash and cash equivalents $ 211,596 Total current assets 1,568,804 Total current liabilities 588,894 Total debt 1,401,271 Total shareholders' equity 4,469,705 Nine Months Ended September 30, 2024 Statement of Operations Operating revenues $ 2,035,977 Operating costs and expenses 1,533,046 Depreciation and amortization 275,990 Statement of Cash Flows Net cash provided by (used in) operating activities $ 611,988 Capital expenditures (423,892) Proceeds from disposal of assets, net (690) Dividend payments —

Organization and Basis of Pre_3

Organization and Basis of Presentation (Details)	9 Months Ended
Organization and Basis of Presentation (Details)	Sep. 30, 2024 segment	Nov. 06, 2024 floater jackup rig
Subsequent Event [Line Items]
Number of reportable segments \| segment	1
Subsequent Event
Subsequent Event [Line Items]
Number of drilling rigs (vessel) \| rig		41
Number of floaters (vessel) \| floater		28
Number of jackups (vessel) \| jackup		13

Acquisitions - Additional Infor

Acquisitions - Additional Information (Details) - Diamond Offshore Drilling, Inc. $ / shares in Units, $ in Thousands	Sep. 04, 2024 USD ($) $ / shares shares
Business Acquisition [Line Items]
Per share equity consideration (in shares) \| shares	0.2316
Cash consideration per share (in dollars per share) \| $ / shares	$ 5.65
Total purchase price consideration	$ 1,490,225
Cash paid in stock-based business combination, net	(610,300)
Non-cash consideration to acquire business	879,900
Long-term debt	580,250
Diamond Principal Debt
Business Acquisition [Line Items]
Long-term debt	550,000
Credit facility \| Credit facility
Business Acquisition [Line Items]
Credit facility of maximum borrowing capacity	$ 300,000

Acquisitions - Schedule of Allo

Acquisitions - Schedule of Allocation of Purchase Price (Details) - USD ($) $ in Thousands		3 Months Ended				9 Months Ended
	Sep. 04, 2024	Sep. 30, 2024	Jun. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Business Acquisition [Line Items]
Acquisition related costs		$ 69,214			$ 12,966	$ 89,163	$ 47,049
Rig
Liabilities assumed:
Proceeds from sale of property, plant, and equipment		$ 5,600	$ 25,000	$ 21,500
Diamond Offshore Drilling, Inc.
Business Acquisition [Line Items]
Acquisition related costs						$ 69,400
Fair value of Noble shares transferred to legacy Diamond shareholders	$ 857,678
Fair value of replacement Diamond RSU Awards attributable to the purchase price	22,263
Cash paid to legacy Diamond shareholders	583,152
Cash paid to terminate the Diamond RCF	308
Cash paid to settle contingent success fees	17,316
Cash paid for retention bonuses	4,422
Cash paid for short-term incentive plans	5,086
Total purchase price consideration	1,490,225
Assets acquired:
Cash and cash equivalents	209,826
Accounts receivable, net	193,194
Taxes receivable	6,971
Prepaid expenses and other current assets	74,739
Total current assets	484,730
Property, plant, and equipment, net	1,834,890
Assets held for sale	5,300
Other assets	172,936
Total assets acquired	2,497,856
Liabilities assumed:
Accounts payable	82,805
Accrued payroll and related costs	36,791
Taxes payable	28,629
Interest payable	19,750
Other current liabilities	132,142
Total current liabilities	300,117
Long-term debt	580,250
Deferred income taxes	184
Noncurrent contract liabilities	27,663
Other liabilities	99,417
Total liabilities assumed	1,007,631
Net assets acquired	1,490,225
Diamond Offshore Drilling, Inc. \| Diamond Principal Debt
Liabilities assumed:
Long-term debt	$ 550,000

Acquisitions - Schedule of Reve

Acquisitions - Schedule of Revenue and Earnings of Acquiree subsequent to Closing of Merger (Details) - Diamond Offshore Drilling, Inc. $ in Thousands	1 Months Ended
	Sep. 30, 2024 USD ($)
Business Acquisition [Line Items]
Revenue	$ 94,380
Net income (loss)	$ 2,690

Acquisitions - Schedule of Pro

Acquisitions - Schedule of Pro Forma Financial Information (Details) - Diamond Offshore Drilling, Inc. - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Revenue	$ 997,566	$ 942,410	$ 2,854,991	$ 2,704,609
Net income (loss)	$ 81,406	$ (28,061)	$ 369,124	$ 265,772
Net income (loss) per share, basic (usd per share)	$ 0.41	$ (0.17)	$ 1.92	$ 1.65
Net income (loss) per share, diluted (usd per share)	$ 0.4	$ (0.17)	$ 1.86	$ 1.55

Income (Loss) Per Share - Compu

Income (Loss) Per Share - Computation of Basic and Diluted Income (Loss) Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Basic
Net income (loss)	$ 61,216	$ 158,323	$ 351,705	$ 332,202
Denominator:
Weighted average shares outstanding - basic (in shares)	149,727	139,400	144,863	137,478
Dilutive effect of share-based awards (in shares)	1,877	3,204	1,877	3,204
Dilutive effect of warrants (in shares)	1,334	3,117	1,502	4,339
Weighted average shares outstanding - diluted (in shares)	152,938	145,721	148,242	145,021
Basic
Net income (loss) (in usd per share)	$ 0.41	$ 1.14	$ 2.43	$ 2.42
Diluted
Net income (loss) (in usd per share)	$ 0.40	$ 1.09	$ 2.37	$ 2.29

Income (Loss) Per Share - Sched

Income (Loss) Per Share - Schedule of Antidilutive Securities Excluded from Diluted Income (Loss) Per Share (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from diluted income (loss) per share, amount (in shares)	10,242	2,774	10,242	2,774

Income (Loss) Per Share - Addit

Income (Loss) Per Share - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands		1 Months Ended	3 Months Ended			9 Months Ended
	Jun. 10, 2024	Sep. 30, 2024	Sep. 30, 2024	Jun. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Ordinary shares, shares outstanding (in shares)		160,341,619	160,341,619			160,341,619		140,773,750
Common stock, par value (in usd per share)		$ 0.00001	$ 0.00001			$ 0.00001		$ 0.00001
Quarterly dividend payment	$ 81,600		$ 10,080		$ 43,679	$ 197,810	$ 43,679
Dividends declared (in usd per share)				$ 0.50
Shareholder authority to repurchase, percentage of issued share capital (as a percent)		15%	15%			15%
Shareholder authority to repurchase, period (in years)						5 years
Share repurchases authorized (in shares)		20,601,161	20,601,161			20,601,161
Stock repurchased and cancelled during period (in shares)			6,900,000		200,000	6,900,000	2,000,000
2022 Long-Term Incentive Plan
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total number of shares issuable under incentive plan (in shares)		6,700,000	6,700,000			6,700,000
Tranche 1 Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Warrants outstanding (in shares)		900,000	900,000			900,000
Warrants converted into rights (in shares)		1	1			1
Exercise price of warrants (in usd per share)		$ 19.27	$ 19.27			$ 19.27
Tranche 2 Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Warrants outstanding (in shares)		1,000,000	1,000,000			1,000,000
Warrants converted into rights (in shares)		1	1			1
Exercise price of warrants (in usd per share)		$ 23.13	$ 23.13			$ 23.13
Tranche 3 Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Warrants outstanding (in shares)		2,800,000	2,800,000			2,800,000
Warrants converted into rights (in shares)		1	1			1
Exercise price of warrants (in usd per share)		$ 124.40	$ 124.40			$ 124.40
Diamond Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Warrants outstanding (in shares)		7,500,000	7,500,000			7,500,000
Warrants converted into rights (in shares)		0.2316	0.2316			0.2316
Exercise price of warrants (in usd per share)		$ 29.22	$ 29.22			$ 29.22
Exercise price in cash (in dollars per share)		$ 5.65	$ 5.65			$ 5.65
Common Class A \| Diamond Offshore Drilling, Inc.
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Issuance of common stock for merger (in shares)		24,239,941

Property and Equipment - Schedu

Property and Equipment - Schedule of Property and Equipment, at Cost (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Property and equipment, at cost	$ 6,795,699	$ 4,591,936
Drilling equipment and facilities
Property, Plant and Equipment [Line Items]
Property and equipment, at cost	6,567,828	4,338,229
Construction in progress
Property, Plant and Equipment [Line Items]
Property and equipment, at cost	170,696	210,759
Other
Property, Plant and Equipment [Line Items]
Property and equipment, at cost	$ 57,175	$ 42,948

Property and Equipment - Additi

Property and Equipment - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended				9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Property, Plant and Equipment [Line Items]
Capital expenditures, including capitalized interest	$ 107.7			$ 88.6	$ 374.3	$ 259.4
Rig
Property, Plant and Equipment [Line Items]
Proceeds from sale of property, plant, and equipment	$ 5.6	$ 25	$ 21.5
Pre-tax gain from sale of property, plant, and equipment		$ 17.4

Debt - Additional Information (

Debt - Additional Information (Details) - USD ($)		3 Months Ended		9 Months Ended
Debt - Additional Information (Details) - USD ($)	Apr. 18, 2023	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Sep. 04, 2024	Aug. 31, 2024	Sep. 21, 2023	Feb. 05, 2021
Debt Instrument [Line Items]
Repayments of credit facilities				$ 35,000,000	$ 0
Loss on extinguishment of debt, net		$ 0	$ 0	$ 0	$ 26,397,000
8.000% Senior Notes due April 2030 \| Senior Notes
Debt Instrument [Line Items]
Borrowings outstanding							$ 1,400,000,000
Stated interest rate (as a percent)	8%						8%
Debt face amount	$ 600,000,000						$ 800,000,000
Premium percentage (as a percent)							103%
8.000% Senior Notes due April 2030 \| Secured Debt
Debt Instrument [Line Items]
Stated interest rate (as a percent)		8%		8%
Diamond Second Lien Notes due 2030 \| Senior Notes
Debt Instrument [Line Items]
Stated interest rate (as a percent)								8.50%
Debt face amount								$ 550,000,000
Second Lien Notes \| Secured Debt
Debt Instrument [Line Items]
Debt, aggregate subscription price									$ 200,000,000
Debt repurchase amount	173,700,000
Loss on repurchase of debt instrument	25,700,000
New DNB Credit Facility \| Credit facility
Debt Instrument [Line Items]
Repayments of credit facilities	347,500,000
Loss on extinguishment of debt, net	700,000
Credit facility \| Credit facility \| Diamond Offshore Drilling, Inc.
Debt Instrument [Line Items]
Maximum borrowing capacity						$ 300,000,000
Borrowings outstanding						$ 0
Credit facility \| 2023 Revolving Credit Agreement
Debt Instrument [Line Items]
Letters of credit outstanding amount		$ 24,000,000		$ 24,000,000
Credit facility \| 2023 Revolving Credit Agreement \| Credit facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 550,000,000
Borrowings outstanding		$ 0		$ 0

Debt - Schedule of Long-Term De

Debt - Schedule of Long-Term Debt, Net (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Long-term debt	$ 1,981,237	$ 586,203
Carrying Value
Debt Instrument [Line Items]
Total debt	1,981,237	586,203
Less: Current maturities of long-term debt	0	0
Long-term debt	1,981,237	586,203
Estimated Fair Value
Debt Instrument [Line Items]
Total debt	2,020,254	626,472
Less: Current maturities of long-term debt	0	0
Long-term debt	$ 2,020,254	626,472
8.000% Senior Notes due April 2030 \| Senior secured notes
Debt Instrument [Line Items]
Stated interest rate (as a percent)	8%
8.000% Senior Notes due April 2030 \| Senior secured notes \| Carrying Value
Debt Instrument [Line Items]
Total debt	$ 1,401,271	586,203
8.000% Senior Notes due April 2030 \| Senior secured notes \| Estimated Fair Value
Debt Instrument [Line Items]
Total debt	$ 1,445,416	626,472
8.500% Senior Secured Second Lien Notes due October 2030 \| Senior secured notes
Debt Instrument [Line Items]
Stated interest rate (as a percent)	8.50%
8.500% Senior Secured Second Lien Notes due October 2030 \| Senior secured notes \| Carrying Value
Debt Instrument [Line Items]
Total debt	$ 579,966	0
8.500% Senior Secured Second Lien Notes due October 2030 \| Senior secured notes \| Estimated Fair Value
Debt Instrument [Line Items]
Total debt	$ 574,838	$ 0

Revenue and Customers - Disaggr

Revenue and Customers - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disaggregation of Revenue [Line Items]
Total	$ 800,549	$ 697,450	$ 2,130,477	$ 1,946,039
Contract drilling services
Disaggregation of Revenue [Line Items]
Total	763,543	671,004	2,036,678	1,852,474
Floaters
Disaggregation of Revenue [Line Items]
Total	605,327	549,130	1,617,538	1,519,346
Jackups
Disaggregation of Revenue [Line Items]
Total	$ 158,216	$ 121,874	$ 419,140	$ 333,128

Revenue and Customers - Additio

Revenue and Customers - Additional Information (Details) - USD ($) $ in Millions		9 Months Ended
	Oct. 03, 2022	Sep. 30, 2024
Maersk Drilling
Disaggregation of Revenue [Line Items]
Favorable customer contracts, fair value adjustments	$ 23
Unfavorable customer contracts, fair value adjustment	237.7
Diamond Offshore Drilling, Inc.
Disaggregation of Revenue [Line Items]
Unfavorable customer contracts, fair value adjustment	27.7
Chapter 11 Bankruptcy
Disaggregation of Revenue [Line Items]
Favorable customer contracts, fair value adjustments	$ 113.4
Minimum
Disaggregation of Revenue [Line Items]
Payment term (in days)		30 days
Maximum
Disaggregation of Revenue [Line Items]
Payment term (in days)		60 days

Revenue and Customers - Contrac

Revenue and Customers - Contract Assets and Contract Liabilities with Customers (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Current customer contract assets	$ 17,166	$ 4,208
Noncurrent customer contract assets	13,759	208
Total customer contract assets	30,925	4,416	$ 3,171	$ 11,537
Current deferred revenue	(48,148)	(19,679)
Noncurrent deferred revenue	(37,721)	(23,393)
Total deferred revenue	$ (85,869)	$ (43,072)	$ (33,563)	$ (59,797)

Revenue and Customers - Signifi

Revenue and Customers - Significant Changes in Contract Assets and Contract Liabilities (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Contract Assets
Contract assets, beginning balance	$ 4,416	$ 11,537
Amortization of deferred costs	(17,088)	(21,722)
Additions to deferred costs	43,597	13,356
Total	26,509	(8,366)
Contract assets, ending balance	30,925	3,171
Contract Liabilities
Contract liabilities, beginning balance	(43,072)	(59,797)
Amortization of deferred revenue	54,411	62,125
Additions to deferred revenue	(97,208)	(35,891)
Total	(42,797)	26,234
Contract liabilities, ending balance	$ (85,869)	$ (33,563)

Revenue and Customers - Favorab

Revenue and Customers - Favorable and Unfavorable Contracts (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Unfavorable contracts
Beginning balance	$ (50,863)
Ending balance	(23,397)
Maersk Drilling
Unfavorable contracts
Beginning balance	(50,863)	$ (181,883)
Additions	(27,663)	0
Amortization	55,129	118,571
Ending balance	(23,397)	(63,312)
Maersk Drilling \| Favorable contracts
Favorable contracts
Beginning balance	10,128	34,372
Additions	0	0
Amortization	(8,549)	(23,031)
Ending balance	$ 1,579	$ 11,341

Revenue and Customers - Estimat

Revenue and Customers - Estimated Future Amortization (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022
Unfavorable contracts
Noncurrent contract liabilities	$ 23,397	$ 50,863
Maersk Drilling
Unfavorable contracts
2024	14,531
2025	8,866
Noncurrent contract liabilities	23,397	50,863	$ 63,312	$ 181,883
Total
2024	13,166
2025	8,652
Total	21,818
Maersk Drilling \| Favorable contracts
Favorable contracts
2024	(1,365)
2025	(214)
Favorable contracts	$ (1,579)	$ (10,128)	$ (11,341)	$ (34,372)

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Effective Income Tax Rate Reconciliation [Line Items]
Deferred tax assets, net of valuation allowance	$ 340.9		$ 340.9
Deferred tax liabilities	8.9		8.9
Valuation allowance	18.2		18.2
Reserves for uncertain tax positions	208.4		208.4		$ 202.3
Uncertain tax positions, related tax benefits	8.8		8.8		$ 0.1
Foreign Tax Authority \| Guyana and Luxembourg
Effective Income Tax Rate Reconciliation [Line Items]
Deferred foreign tax benefits	36.2
Foreign Tax Authority \| Guyana, Nigeria, Switzerland, and Luxembourg
Effective Income Tax Rate Reconciliation [Line Items]
Deferred foreign tax benefits			117.8
Tax expenses related to various recurring items	$ 67.8		$ 134
Foreign Tax Authority \| Guyana, Norway, Switzerland, and Luxembourg
Effective Income Tax Rate Reconciliation [Line Items]
Deferred foreign tax benefits		$ 17.2
Foreign Tax Authority \| Guyana
Effective Income Tax Rate Reconciliation [Line Items]
Deferred foreign tax benefits				$ 80.8
Foreign Tax Authority \| Luxembourg
Effective Income Tax Rate Reconciliation [Line Items]
Deferred foreign tax benefits				18.1
Foreign Tax Authority \| Switzerland
Effective Income Tax Rate Reconciliation [Line Items]
Deferred foreign tax benefits				10.5
Foreign Tax Authority \| Norway
Effective Income Tax Rate Reconciliation [Line Items]
Deferred foreign tax benefits				$ 4.1

Employee Benefit Plans - Schedu

Employee Benefit Plans - Schedule of Pension Costs (Gains) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Non-US
Defined Benefit Plan Disclosure [Line Items]
Interest cost	$ 608	$ 508	$ 1,642	$ 1,632
Return on plan assets	(665)	(433)	(1,796)	(1,392)
Recognized net actuarial (gain) loss	28	54	77	176
Net pension benefit cost (gain)	(29)	129	(77)	416
US
Defined Benefit Plan Disclosure [Line Items]
Interest cost	2,188	2,248	6,563	6,744
Return on plan assets	(2,311)	(2,394)	(6,932)	(7,184)
Recognized net actuarial (gain) loss	0	(58)	0	(173)
Net pension benefit cost (gain)	$ (123)	$ (204)	$ (369)	$ (613)

Employee Benefit Plans - Additi

Employee Benefit Plans - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Retirement Benefits [Abstract]
Defined benefit plan, contributions by employer	$ 0	$ 0	$ 0	$ 0
Defined benefit plans, service costs	$ 0	$ 0	$ 0	$ 0

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Millions	1 Months Ended	9 Months Ended
	Feb. 29, 2016	Sep. 30, 2024
Credit facility \| Unsecured Debt
Other Commitments [Line Items]
Letters of credit outstanding amount		$ 114.7
Credit facility \| 2023 Revolving Credit Agreement
Other Commitments [Line Items]
Letters of credit outstanding amount		24
Replacement Parts
Other Commitments [Line Items]
Total remaining payments due under service agreement		37
Hurricane Ida Personal Injury Claims
Other Commitments [Line Items]
Claim insurance deductible amount		$ 5
Minimum
Other Commitments [Line Items]
Percentage of uncertain tax positions likelihood of being sustained		50%
Service Agreements
Other Commitments [Line Items]
Maturity of service arrangement (in years)	10 years
Annual payments due under service agreement		$ 24.7
Total remaining payments due under service agreement		73.6
Non-US \| Customs and Other Business Taxes
Other Commitments [Line Items]
Approximate audit claims assessed		$ 390.5

Supplemental Financial Inform_3

Supplemental Financial Information - Additional Information (Details) - USD ($) $ in Thousands		9 Months Ended
	Sep. 04, 2024	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Business Acquisition, Equity Interests Issued or Issuable [Line Items]
Restricted cash		$ 13,200		$ 7,000
Cash paid in stock-based business combination, net		$ (400,458)	$ 0
Diamond Offshore Drilling, Inc.
Business Acquisition, Equity Interests Issued or Issuable [Line Items]
Cash paid in stock-based business combination, net	$ (400,500)
Non-cash consideration to acquire business	879,900
Net assets acquired	$ 1,490,225

Supplemental Financial Inform_4

Supplemental Financial Information - Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Operating leases
Right-of-use assets	$ 83,775	$ 24,528
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other assets	Other assets
Current lease liabilities	$ 16,378	$ 10,581
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Other current liabilities	Other current liabilities
Long-term lease liabilities	$ 69,627	$ 15,082
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other Liabilities, Noncurrent	Other Liabilities, Noncurrent
Finance leases
Right-of-use assets	$ 44,254	$ 0
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other assets	Other assets
Current lease liabilities	$ 26,443	$ 0
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Other current liabilities	Other current liabilities
Long-term lease liabilities	$ 15,616	$ 0
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other Liabilities, Noncurrent	Other Liabilities, Noncurrent

Supplemental Financial Inform_5

Supplemental Financial Information - Effect of Changes in Other Assets and Liabilities on Cash Flows from Operating Activities (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Supplemental Financial Information [Abstract]
Accounts receivable	$ (10,232)	$ (169,944)
Other current assets	8,624	(30,250)
Other assets	153	7,356
Accounts payable	(18,136)	(721)
Other current liabilities	27,592	22,815
Other liabilities	5,481	6,192
Total net change in assets and liabilities	$ 13,482	$ (164,552)

Supplemental Financial Inform_6

Supplemental Financial Information - Schedule of Non-Cash Investing and Financing Activities (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Supplemental Financial Information [Abstract]
Accrued capital expenditures at period end	$ 60,691	$ 71,291

Information about Noble Finan_3

Information about Noble Finance II - Additional Information (Details)	Aug. 31, 2024	Apr. 18, 2023
8.000% Senior Notes due April 2030 \| Senior Notes
Debt Instrument [Line Items]
Stated interest rate (as a percent)	8%	8%

Information about Noble Finan_4

Information about Noble Finance II - Schedule of Financial Information Below Reflects the Consolidated Accounts of Noble Finance II (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023	Dec. 31, 2022
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	$ 391,858		$ 391,858			$ 360,794
Total current assets	1,410,691		1,410,691			1,061,748
Total current liabilities	900,465		900,465			641,680
Total shareholders' equity	4,684,949	$ 3,833,000	4,684,949	$ 3,833,000	$ 3,985,002	$ 3,921,240	$ 3,719,420	$ 3,607,085
Condensed Income Statements, Captions [Line Items]
Operating revenues	800,549	697,450	2,130,477	1,946,039
Operating costs and expenses	685,066	496,674	1,697,488	1,529,014
Depreciation and amortization	109,879	$ 77,146	287,347	218,412
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by (used in) operating activities			519,261	286,848
Capital expenditures			(434,653)	(268,131)
Proceeds from disposal of assets, net			4,885	0
Dividend payments			(198,150)	$ (42,369)
Subsidiaries
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	211,596		211,596
Total current assets	1,568,804		1,568,804
Total current liabilities	588,894		588,894
Total debt	1,401,271		1,401,271
Total shareholders' equity	$ 4,469,705		4,469,705
Condensed Income Statements, Captions [Line Items]
Operating revenues			2,035,977
Operating costs and expenses			1,533,046
Depreciation and amortization			275,990
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by (used in) operating activities			611,988
Capital expenditures			(423,892)
Proceeds from disposal of assets, net			(690)
Dividend payments			$ 0