NE · Noble Corporation Q2 FY2026 earnings call record财报电话会记录

“We have maintained our robust return of capital program, returning an additional $80 million to shareholders through our $0.50 per share quarterly dividend in Q2.”

“Apart from this discrete headwind, operational and financial performance across the balance of the fleet was strong and was complemented by a successful debt refinancing in June.”

“For starters, 77 rig years of UDW backlog contracted during the first half of this year was, by a comfortable margin, the highest level seen in well over a decade.”

“The rest of the region appears poised to grow moderately, keyed by base load demand of seven to nine units throughout the Guyana-Suriname Basin, where Noble has drilled approximately 75% of the wells to date, plus an expanding array of opportunities of longer and shorter duration spanning Colombia, Peru, Uruguay, and potentially Venezuela.”

“Next, in West Africa, contracted UDW demand stands at 14 rigs, down one versus six months ago, with a strong pipeline of open demand throughout the region, comprising 22 rig years across public tenders and pre-tenders throughout the West Africa plus Mozambique region.”

“Next, the Asia Pacific plus India region continues to be perhaps the most dynamic growth market for deepwater, with a recent range of 10 to 11 contracted UDW rigs, up from eight rigs six months ago and representing a multi-year high since pre-COVID times.”

“Even despite the withdrawal of five of ONGC's five long-term rig tenders, open demand in the region still currently stands at 42 rig years.”

“This is very similar to the industry status and outlook that we beheld in mid-2023, prior to the demand downturn that tracked with Brent prices melting from $90 per bbl down to $60 by the end of 2025.”

“Q2 cash flow from operations was $144 million, capital expenditures were $205 million, and free cash flow was -$59 million.”

“Our current backlog includes approximately $1 billion that is scheduled for revenue conversion during the remainder of 2026 and $2.3 billion scheduled for 2027.”

“Referring to page nine of the earnings presentation, we have updated our full-year 2026 guidance for total revenue to a new range of $2.8 billion-$2.9 billion, down from $2.8 billion-$3 billion previously.”

“We've also revised guidance for full-year adjusted EBITDA to between $850 million and $925 million, down from $940 million-$1.02 billion previously.”