Property and Equipment

9 Months Ended

Sep. 30, 2025

Property, Plant and Equipment [Abstract]

Note 5 — Property and Equipment

Property and equipment, at cost, for Noble consisted of the following:


	September 30, 2025		December 31, 2024
Drilling equipment and facilities	$	6,712,461	$	6,650,034
Construction in progress	185,718		197,789
Other	83,682		56,908
Property and equipment, at cost	$	6,981,861	$	6,904,731

Capital additions, including capitalized interest, during the three months ended September 30, 2025 and 2024, totaled $134.7 million and $107.7 million, respectively, and during the nine months ended September 30, 2025 and 2024, totaled $339.0 million and $374.3 million, respectively.

During the third quarter of 2025, we sold the Noble Highlander and the Pacific Meltem for net proceeds of $87.5 million, resulting in a gain of $5.6 million.

In August 2025, we announced our intent to dispose of the rigs Noble Globetrotter II and Noble Reacher. As of September 30, 2025, the Noble Globetrotter II and Noble Reacher qualified as held for sale and were included in “Other assets” on our Consolidated Balance Sheet at their combined carrying value of $54.0 million after a recognized aggregate non-cash impairment charge of $60.7 million.

We measured the impairment of the rigs and related assets as the amount by which the carrying amount exceeded the estimated fair value less costs to sell. We estimated the fair value of the assets using significant other observable inputs, representative of Level 2 fair value measurements, including binding contracts or indicative market values for the sale of rigs and related assets for use outside of the drilling industry.