NE · CIK 1895262
What Noble Corp plc told the SEC could break it.
2 self-disclosed vulnerabilities, pulled from its own filings, each in the company’s words, with the source. This is the risk register almost nobody reads.
A limited set so far, we surface every cited disclosure we’ve extracted for NE. More may follow as additional filings are processed.
In its own words
What could break it.
Regulatory & policy
- BOEM/BSEE offshore-drilling rules (incl. expanded decommissioning bonding) could limit or raise cost of offshore drillingmedium
As a pure-play offshore driller, Noble's market depends on the regulatory permissibility and cost of offshore oil & gas development. U.S. regulators BOEM and BSEE (and Congress, plus non-U.S. jurisdictions) periodically propose and implement rules that could materially limit or prohibit, or increase the cost of, offshore drilling — for example, BSEE and BOEM expanded their offshore decommissioning financial-assurance and bonding requirements, raising operating-environment costs for Noble's customers and indirectly demand for its rigs.
“From time to time, new rules, regulations, and requirements regarding oil and gas development have been proposed and implemented by BOEM, BSEE, or the United States Congress, as well as other jurisdictions outside the United States, that could materially limit or prohibit, and increase the cost of, offshore drilling.”
SEC filing →As of 2026 - U.S. & retaliatory tariffs raise component/raw-material costs while dayrates are fixedmedium
Noble sources rig components and raw materials internationally, so newly proposed/instituted U.S. tariffs and reciprocal foreign tariffs could increase its supply-chain costs if sustained. The exposure is sharpened by its contract structure: most of Noble's drilling contracts carry dayrates fixed over the contract term, limiting its ability to pass higher input costs through to oil-major customers and compressing margins.
“In the event that the above measures and any related retaliatory tariffs were to be imposed for prolonged periods of time, this could increase the cost of components and raw materials in our supply chain and, consequently, our costs.”
The hidden graph
Who it depends on, and who depends on it.
Relationships surfaced from filings, including ones disclosed by the other side, which is how the non-obvious ones come to light.
Its customers
Petróleo Brasileiro S.A. (Petrobras)
“ExxonMobil, BP, and Petrobras accounted for approximately 19.7% , 13.2%, and 12.5% respectively, of our consolidated operating revenues for the year ended December 31, 2025.”
Cited →“ExxonMobil, BP, and Petrobras accounted for approximately 19.7% , 13.2%, and 12.5% respectively, of our consolidated operating revenues for the year ended December 31, 2025.”
Cited →“As of December 31, 2025, ExxonMobil , Shell plc , BP, and TotalEnergies represented approximately 23.7%, 19.5%, 16.2%, and 12.6% of our contract backlog, respectively.”
Cited →
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