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Leases | 6 Months Ended
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Jun. 30, 2024
Leases [Abstract] |
Leases | Leases Nature of Leases The Company has entered into various operating leases such as a natural gas processing plant, floating production storage and off-take vessels, buildings, marine vessels, vehicles, drilling rigs, pipelines and other oil and gas field equipment. Options to extend lease terms are at the Company’s discretion. Early lease terminations are a combination of Company discretion and mutual agreement between the Company and lessor. Purchase options also exist for certain leases. During the second quarter of 2024, the Company exercised an option to extend and expand an operating lease pertaining to a drill ship used in our offshore business. This resulted in an increase of $254.1 million (discounted) to our right-of-use assets and operating lease liabilities at June 30, 2024. Maturity of Lease Liabilities
(Thousands of dollars) | Operating Leases |  | Finance Leases |  | Total
2024 | $ | 158,984 |  |  | $ | 534 |  |  | $ | 159,518 |
2025 | 266,213 |  |  | 1,069 |  |  | 267,282 |
2026 | 111,686 |  |  | 1,069 |  |  | 112,755 |
2027 | 61,053 |  |  | 1,069 |  |  | 62,122 |
2028 | 60,182 |  |  | 1,069 |  |  | 61,251 |
Remaining | 484,971 |  |  | 267 |  |  | 485,238 |
Total future minimum lease payments | 1,143,089 |  |  | 5,077 |  |  | 1,148,166 |
Less imputed interest | (243,266) |  |  | (1,137) |  |  | (244,403) |
Present value of lease liabilities 1 | $ | 899,823 |  |  | $ | 3,940 |  |  | $ | 903,763 |
1 Includes both the current and long-term portion of the lease liabilities. Lease Term and Discount Rate
| June 30, 2024 |  | December 31, 2023
Weighted average remaining lease term: |  |  |
Operating leases | 8 years |  | 10 years
Finance leases | 5 years |  | 5 years
Weighted average discount rate: |  |  |
Operating leases | 5.7 | % |  | 5.9 | %
Finance leases | 4.7 | % |  | 4.7 | %
Leases | Leases Nature of Leases The Company has entered into various operating leases such as a natural gas processing plant, floating production storage and off-take vessels, buildings, marine vessels, vehicles, drilling rigs, pipelines and other oil and gas field equipment. Options to extend lease terms are at the Company’s discretion. Early lease terminations are a combination of Company discretion and mutual agreement between the Company and lessor. Purchase options also exist for certain leases. During the second quarter of 2024, the Company exercised an option to extend and expand an operating lease pertaining to a drill ship used in our offshore business. This resulted in an increase of $254.1 million (discounted) to our right-of-use assets and operating lease liabilities at June 30, 2024. Maturity of Lease Liabilities
(Thousands of dollars) | Operating Leases |  | Finance Leases |  | Total
2024 | $ | 158,984 |  |  | $ | 534 |  |  | $ | 159,518 |
2025 | 266,213 |  |  | 1,069 |  |  | 267,282 |
2026 | 111,686 |  |  | 1,069 |  |  | 112,755 |
2027 | 61,053 |  |  | 1,069 |  |  | 62,122 |
2028 | 60,182 |  |  | 1,069 |  |  | 61,251 |
Remaining | 484,971 |  |  | 267 |  |  | 485,238 |
Total future minimum lease payments | 1,143,089 |  |  | 5,077 |  |  | 1,148,166 |
Less imputed interest | (243,266) |  |  | (1,137) |  |  | (244,403) |
Present value of lease liabilities 1 | $ | 899,823 |  |  | $ | 3,940 |  |  | $ | 903,763 |
1 Includes both the current and long-term portion of the lease liabilities. Lease Term and Discount Rate
| June 30, 2024 |  | December 31, 2023
Weighted average remaining lease term: |  |  |
Operating leases | 8 years |  | 10 years
Finance leases | 5 years |  | 5 years
Weighted average discount rate: |  |  |
Operating leases | 5.7 | % |  | 5.9 | %
Finance leases | 4.7 | % |  | 4.7 | %

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- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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