Dafinchi AI

RES

Energy & Utilities

Adjusted diluted EPS was $0.08, with $0.03 adjustments related to acquisition employment costs.
Adjusted EBITDA increased to $65.6 million with margin improving 90 basis points to 15.6%.
Cash balance was $162 million at quarter end, with $50 million seller financed note payable and no outstanding revolver balance.
Cost of revenues increased to $318 million from $245 million, primarily due to Pintail addition; excluding Pintail, cost of revenues declined 3%.
Dividends paid totaled $8.8 million during the quarter.
Effective tax rate was 41.3%, unusually high due to acquisition-related employment costs; full year 2025 tax rate expected in mid-30s.
Excluding Pintail, revenues were down 3% sequentially.
Operating cash flow was $92.9 million; free cash flow was $17.6 million after $75.3 million CapEx.
Pressure pumping accounted for 25.9% of revenues, wireline 24.7%, downhole tools 23.7%, coiled tubing 8.5%, cementing 6.6%, and rental tools 4.3%.
Revenues increased 26% to $421 million in Q2 2025, driven by the full quarter impact of the Pintail acquisition.
SG&A expenses decreased to $40.8 million from $42.5 million, representing 9.7% of revenue, down 310 basis points.
Technical Services revenues were up 27%, Support Services up 14%.

Energy & Utilities

Free cash flow for the quarter was $107 million, including proceeds from asset sales.
Noble Corporation reported Q2 2025 contract drilling services revenue of $812 million with an adjusted EBITDA of $282 million and a margin of 33%.
Q2 revenue and EBITDA were sequentially lower due to planned out-of-service time and rigs rolling off contract into a softer spot market.
The company achieved $100 million in synergy cost savings from the Diamond acquisition ahead of schedule.
Total backlog as of August 5, 2025, stood at $6.9 billion, with $1.1 billion scheduled for revenue conversion in the remainder of 2025.

TPL

Energy & Utilities

Consolidated total revenue for Q2 2025 was $188 million, with adjusted EBITDA of $166 million and an adjusted EBITDA margin of 89%.
Free cash flow increased 12% year-over-year to $130 million.
Oil and gas royalty production reached a company record of 33,200 barrels of oil equivalent per day, a 33% increase year-over-year.
Produced water royalty revenues and easements and other surface-related income (SLEM) both set company records this quarter.
Water sales declined by $13 million sequentially due to lower oil prices and reduced operator activity.

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