July 28 (splash247) Offshore driller Noble posted a $37m net loss for the second quarter of 2026 after operational suspensions affecting two rigs in Brazil weighed on revenue and utilisation.
The quarterly loss compared with net income of $121m in the first quarter. Contract drilling services revenue fell to $679m from $743m in the previous quarter.
Noble said the decline was driven mainly by the suspension of the Noble Faye Kozack and Noble Courage in Brazil, as well as the end of the Noble Globetrotter I contract in the Black Sea. The 2013-built drillship and the 2009-built semisub both worked for Petrobras. Before the suspension, the former had a contract until January 2027, while the latter’s deal was supposed to last until December 2030.
Utilisation across Noble’s 29 marketed rigs slipped to 64% during the quarter from 68% in the first quarter.
“Our second quarter was adversely impacted by $43m due to the operational suspension of both of our rigs in Brazil, while operational and financial performance was otherwise strong across the board,” said Robert Eifler, Noble president and CEO.
Despite the weaker quarterly result, Noble stated that the offshore drilling market remained strong, particularly for high-specification drillships. The company said tightening availability had pushed leading-edge dayrates into the mid-$400,000-per-day range.
Over the past quarter, Noble added around $200m in new contract value. The awards include a six-well contract for the Noble Viking and a three-well programme for the Noble Claus Bachmann. The company’s total contract backlog stood at $6.8bn at the end of the quarter.
Brazil Energy Insight 
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