Noble Corporation said on February 11 that additional contracted rig years in Guyana supported full-year 2025 earnings performance, with adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) landing in the upper half of its original guidance range.
President and Chief Executive Officer Robert W. Eifler said, “Solid fourth quarter performance brought our full year 2025 adjusted EBITDA to the upper half of the original guidance range and contributed to another year of strong free cash flow.”
He added, “Noble’s commercial success continues to build with the recent award of nearly 10 rig years of new bookings comprising US$1.3 billion of high quality backlog.”
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ExxonMobil awarded two additional rig years of backlog under the Commercial Enabling Agreement in Guyana. The company said the work has been “assigned evenly across the four drillships, extending each rig to February of 2029”.
Noble reported fourth quarter 2025 contract drilling services revenue of US$705 million. Net income increased to US$87 million from a loss of US$(21) million in the previous quarter. Net cash provided by operating activities in the fourth quarter was US$187 million.
For 2026, Noble announced guidance for Total Revenue of US$2,800 million to US$3,000 million and Adjusted EBITDA of US$940 million to US$1,020 million.
Commenting on the outlook, Eifler said, “Recent improvement in our contract coverage, coupled with ongoing customer dialogue, indicate a likelihood of a tightening market as we progress through this year.”
Noble’s vessels in Guyana’s Stabroek Block include the Noble Sam Croft, Noble Don Taylor, Noble Tom Madden and Noble Bob Douglas.
