Noble's quarterly loss widens to US$117 million as tax expense surges. Noble Corporation reported a net loss of US$117 million in the third quarter of 2026, widening from US$37 million in the preceding quarter, as a sharp increase in income tax expenses outweighed its pretax earnings. The drilling contractor published its earnings on October 26, 2026. The offshore drilling contractor recorded an income tax provision of US$133 million for the three months ended September 30, up from US$16.3 million in the second quarter. The increase pushed Noble into its second consecutive quarterly net loss, despite generating approximately US$16 million in pretax profit. Noble's quarterly revenue reached US$729 million in the preceding quarter but down from US$798 million a year earlier. Its adjusted earnings before interest, taxes, depreciation and amortization (EBITDA), a measure of operating performance, declined to US$201 million from US$212 million in the second quarter. Chief Executive Officer Robert Eifler said the quarter was affected by several drilling rigs transitioning between contracts, although two rigs in Brazil successfully resumed operations. Noble's contract drilling costs also increased to approximately US$469 million, compared with US$446 million in the preceding quarter. Despite the weaker financial results, the company reported approximately US$560 million in new drilling contract awards since its July fleet status report, bringing its total contracted backlog to US$6.7 billion as of October 26. The awards included drilling assignments in Nigeria, Ghana, Uruguay and Norway, alongside a capacity reservation agreement for light well intervention services in West Africa. Noble narrowed its full-year 2026 revenue forecast to US$2.85 billion-US$2.9 billion and its adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) forecast to US$850 million-US$900 million. It also raised its capital expenditure forecast to US$680 million-US$705 million, primarily reflecting higher spending reimbursable by customers. In Guyana, Noble continues to support ExxonMobil's offshore drilling operations through four drillships: Noble Tom Madden, Noble Sam Croft, Noble Don Taylor and Noble Bob Douglas. All four remain contracted through February 2029 under a commercial enabling agreement with ExxonMobil. Noble's latest fleet report also lists the Noble Developer for a one-well ExxonMobil assignment in Guyana beginning in November 2026, valued at approximately US$22 million, including mobilization and demobilization fees.

Noble Q3 earnings call highlights. October 27, 2026 Key points. * Third-quarter performance softened: Noble reported $201 million in adjusted EBITDA on $684 million of revenue, while free cash flow was negative $48 million due to $192 million in capital expenditures and rig contract transitions. * Backlog expanded to $6.7 billion: Approximately $560 million in new awards across Nigeria, Ghana, Peru, Angola, Uruguay and Norway included about $2.6 billion scheduled to convert to revenue in 2027. * Management sees improving conditions but lowered profitability expectations: Noble cited 99% contracted utilization for marketed ultra-deepwater rigs and expects 2027 EBITDA to build through the year, while narrowing 2026 adjusted EBITDA guidance to $850 million-$900 million and raising capital-spending guidance to $680 million-$705 million. * MarketBeat All Access makes it easier to follow Noble with alerts, analyst ratings, and deeper research - now $149 a year with your rate locked in. Noble NYSE: NE reported third-quarter 2026 adjusted EBITDA of $201 million on revenue of $684 million, as several rigs transitioned between contracts during the period. The offshore driller generated cash flow from operations of $144 million, spent $192 million on capital expenditures and recorded negative free cash flow of $48 million. President and CEO Robert Eifler said adjusted EBITDA declined 5% sequentially because the BlackRhino, Discoverer, Venturer and Globetrotter I had fewer contracted days than in the second quarter. Those impacts were partly offset by the July resumption of operations for two rigs in Brazil, the August startup of the Gerry de Souza and the Noble Voyager beginning its four-year Shell contract in the U.S. Gulf of Mexico in late September. The Voyager's startup was delayed by final commissioning and weather, Eifler said. Noble expects the Valiant and Discoverer to begin long-term development work for Total in Suriname around the end of 2026. The company again paid a quarterly dividend of $0.50 per share, and its board declared another $0.50-per-share dividend for the fourth quarter. Contract awards lift backlog to $6.7 billion. Noble said it secured approximately $560 million in new contract awards during the past three months, bringing total backlog as of Oct. 26 to $6.7 billion. The backlog excludes reimbursable revenue and ancillary-services revenue and includes roughly $2.6 billion scheduled to convert to revenue during 2027. * The Noble BlackRhino received a four-well TotalEnergies contract in Nigeria expected to begin within weeks, with an estimated 150-day duration and options for up to six additional wells. * The Noble Faye Kozack was awarded a five-well Tullow contract in Ghana, scheduled to start in mid-2027 and expected to last about 250 days. * The Noble Globetrotter I received a two-well exploration campaign from Occidental in Peru beginning in the second quarter of 2027, followed by a three-year TotalEnergies capacity-reservation agreement for light well intervention work in Angola. * The Noble BlackHawk was awarded a one-well Apache contract in Uruguay expected to begin in the fourth quarter of 2027. The estimated 50-day contract has a value of about $25 million, excluding mobilization, demobilization, managed-pressure-drilling and other services. * In Norway, the Noble Interceptor received a one-well DNO contract beginning in mid-2027, ahead of a planned ConocoPhillips plug-and-abandonment campaign at Ekofisk in the third quarter of 2027. The Noble Intrepid also received a one-well ORLEN contract expected to begin in the third quarter of 2027. Eifler said the recent Norway awards mean four of Noble's five CJ70 jackups are now contracted in Norway. He said leading-edge rates for those jackups range from $230,000 to $300,000 per day, depending on work scope and contract duration. Noble expects its four newest CJ70 units to remain in Norway and said it is optimistic about finding work for the uncontracted Noble Innovator in the southern North Sea. Management sees tightening deepwater market. Eifler said deepwater contracting activity regained momentum after a quieter period between May and July. Recent high-end drillship contracts have supported day rates in the mid-$400,000s to $500,000 per day, he said. Discover more MarketBeat All Access MarketBeat Research Tools Of 110 marketed ultra-deepwater rigs, 109 are now contracted either currently or in the future, representing 99% contracted utilization, according to Noble. Current working utilization stood at 88 rigs, below the 2024 peak, but Eifler said pending starts for idle units now modestly exceed contract rollovers expected over the next six months. Management expects some improvement in U.S. Gulf activity next year, following a decline from a rig count in the low 20s in recent years to the mid-teens currently. Eifler also cited strengthening prospects in India, where Noble believes two to four drillships may be needed beginning in late 2027 and 2028. While customers have expressed growing interest in exploration and reserve replacement, Eifler said the company has not yet seen exploration become a material driver of its business. He said 2027 could provide more clarity on potential wildcat exploration activity, while development projects continue to underpin much of the current demand. Guidance narrowed; 2027 expected to build through the year. Chief Financial Officer Richard Barker said Noble narrowed its full-year 2026 revenue guidance to $2.85 billion to $2.9 billion, from a prior range of $2.8 billion to $2.9 billion. The revised range reflects higher-than-expected reimbursable revenue. The company narrowed adjusted EBITDA guidance to $850 million to $900 million, compared with $850 million to $925 million previously, as it expects fourth-quarter EBITDA to be slightly below the third quarter. Barker attributed the lower range primarily to later-than-expected starts for the Voyager and Valiant. Noble increased 2026 capital-expenditure guidance to $680 million to $705 million from $615 million to $665 million, primarily due to higher customer-reimbursable capital spending. Customer-reimbursable capital expenditures are now expected to total about $65 million for the year, compared with a previous estimate of $25 million. For 2027, Barker said first-quarter adjusted EBITDA should be broadly similar to the fourth quarter of 2026 before rising meaningfully through the year. Noble has about 20% more fleet capacity under contract in the second half of 2027 than in the first half, he said. Management also said it expects normalized capital expenditures, excluding the Claus Bachmann upgrade project, to be toward the high end of a previously cited $300 million to $400 million range due to inflationary pressures. Eifler said fleet upgrades, including managed-pressure-drilling capability, larger derricks and other equipment, are intended to enhance the long-term marketability and earning capacity of Noble's drillships. About Noble (NYSE:NE). Noble Corporation plc NYSE: NE is an offshore drilling contractor that provides drilling services to the global oil and gas industry. The company operates a fleet of offshore drilling units, including drillships, semisubmersible rigs and jackup rigs, which are used to explore for and develop oil and natural gas reserves beneath the seabed. Noble's services include contract drilling, well planning, project management and other related support services. Its drilling units are designed to operate in a range of offshore environments, including deepwater and harsh-environment locations. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. Before you consider Noble, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Noble wasn't on the list. While Noble currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys. A strong long-term portfolio starts with companies that can survive recessions, inflation, changing consumer habits, and shifting market leadership. 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Jack-up changes hands as Ocean Oilfield enriches its drilling fleet with Noble's rig. Ocean Oilfield has wrapped up the acquisition of a rig, which is now docked in Malta and ready for immediate global deployment. Melisa Cavcic Senior Editor 2 minutes read Abu Dhabi-headquartered Ocean Oilfield Integrated Solutions has upgraded its fleet lineup by finalizing the takeover of a jack-up rig from Noble Corporation, a U.S.-based offshore drilling giant. This move boosts the UAE player's capacity to take on offshore projects worldwide. Noble revealed a six-rig divestment last year, which entailed the sale of the Noble Resolve rig to Ocean Oilfield Drilling for $64 million in cash. The closing of the transaction was expected in Q2 2026, upon conclusion of the jack-up's existing contract. Ocean Oilfield has confirmed the completion of the acquisition and ownership takeover of Ocean MVM, formerly Noble Resolve, which is a GustoMSC CJ50-X100 MC jack-up drilling rig. Ocean MVM arrived in Malta on October 13, 2026, and is now being actively marketed and made available for immediate deployment, subject to contractual arrangements and operational requirements. The new owner emphasizes that this rig presents an attractive opportunity for operators seeking a capable, high-efficiency jack-up drilling unit for upcoming offshore campaigns worldwide. The UAE-based company emphasized: "The GustoMSC CJ50-X100 MC design series is recognised for its high structural efficiency, optimised safety footprint and reliable performance in challenging offshore and severe weather conditions. "This strategic acquisition marks another significant milestone in Ocean Oilfield's continued growth and expansion of its offshore drilling capabilities." With Ocean MVM officially joining the Ocean Oilfield fleet, the acquisition is said to further strengthen the drilling player's asset portfolio and reinforce its commitment to delivering reliable, cost-effective offshore drilling solutions tailored to its clients' operational requirements. Commenting on the acquisition, Sameer M, CEO of Ocean Oilfield, stated: "This strategic acquisition strengthens our fleet and represents a significant step forward in our continued growth. It reinforces our operational capabilities and enhances our ability to support clients across key global markets." Reach the Offshore Energy industry in one go! Offshore Energy is read by thousands of professionals every day. Increase your visibility with banners, tell your story with a branded article, and showcase your expertise with a full-page company profile in its business directory. Follow Offshore Energy on: