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Leases - Components of Lease Costs (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Lease, Cost [Abstract]        
Finance lease costs - interest on lease liabilities $ 2,767 $ 3,205 $ 8,542 $ 9,849
Operating lease costs, excluding short-term leases [1] 1,080 1,113 3,236 3,123
Short-term lease costs [2] 69,836 2,674 139,944 20,113
Variable lease costs [3] 667 616 2,001 1,848
Variable and fixed sublease income (397) (359) (1,190) (1,077)
Total lease costs $ 73,953 $ 7,249 $ 152,533 $ 33,856
[1] Operating lease costs reflect a single lease cost, calculated so that the cost of the lease is allocated over the lease term on a straight-line basis.
[2] Short-term lease costs are reported at gross amounts and primarily represent costs incurred for drilling rigs and well intervention vessels, most of which are short-term contracts not recognized as a ROU asset and lease liability on the Condensed Consolidated Balance Sheets. The short-term operating lease costs incurred during the periods presented are not necessarily indicative of the Company’s future short-term lease costs and obligations, as it routinely executes short-term contracts for the use of drilling rigs to support its drilling activities. Short-term lease costs for drilling rigs can vary significantly based on the timing of the drilling program. Market conditions can also contribute to the volatility and variability of short-term drilling rig lease costs.
[3] Variable lease costs primarily represent differences between minimum payment obligations and actual operating charges incurred by the Company related to its long-term leases.