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Segment Information
 6 Months Ended
Jun. 30, 2023
Segment Reporting [Abstract]  
Segment Information Segment InformationDuring the three months and six months ended June 30, 2023 and June 30, 2022, we had a single reportable segment: our operations performed under our dayrate model (which includes rig charters and ancillary services). Our Chief Operating Decision Maker reviews financial information provided as an aggregate sum of assets, liabilities and activities that exist to generate cash flows, by our operating segment.
The following presents financial information by segment for the three months ended June 30, 2023:
(In $ millions)Dayrate
Reconciling Items (2)
Consolidated total
Dayrate revenue236.9(81.8)155.1
Related party revenue—32.432.4
Gain on disposal—0.20.2
Rig operating and maintenance expenses(169.7)80.2(89.5)
Depreciation of non-current assets (1)
(27.6)(0.4)(28.0)
General and administrative expenses (1)
—(10.3)(10.3)
Income from equity method investments—3.93.9
Operating income including equity method investments39.624.263.8
Total assets3,276.9(280.8)2,996.1
The following presents financial information by segment for the three months ended June 30, 2022:
(in $ millions)Dayrate
Reconciling Items (2)
Consolidated total
Dayrate revenue139.3(51.6)87.7
Related party revenue—17.617.6
Gain on disposal—0.70.7
Rig operating and maintenance expenses(115.9)50.4(65.5)
Depreciation of non-current assets (1)
(29.1)(0.4)(29.5)
Impairment of non-current assets(124.4)—(124.4)
General and administrative expenses (1)
—(9.6)(9.6)
Loss from equity method investments—(1.1)(1.1)
Operating (loss) / income including equity method investments(130.1)6.0(124.1)
Total assets3,226.5(236.0)2,990.5
The following presents financial information by segment for the six months ended June 30, 2023:
(In $ millions)Dayrate
Reconciling Items (2)
Consolidated total
Dayrate revenue454.7(157.9)296.8
Related party revenue—62.762.7
Gain on disposal—0.30.3
Rig operating and maintenance expenses(329.7)154.7(175.0)
Depreciation of non-current assets (1)
(55.4)(0.8)(56.2)
General and administrative expenses (1)
—(22.7)(22.7)
Income from equity method investments—6.36.3
Operating income including equity method investments69.642.6112.2
The following presents financial information by segment for the six months ended June 30, 2022:
(in $ millions)Dayrate
Reconciling Items (2)
Consolidated total
Dayrate revenue254.8(103.8)151.0
Related party revenue—36.336.3
Gain on disposal—0.70.7
Rig operating and maintenance expenses(222.2)101.1(121.1)
Depreciation of non-current assets (1)
(58.2)(0.8)(59.0)
Impairment of non-current assets(124.4)—(124.4)
General and administrative expenses (1)
—(18.8)(18.8)
Income from equity method investments———
Operating (loss) / income including equity method investments(150.0)14.7(135.3)
(1) General and administrative expenses and depreciation expense incurred by our corporate office are not allocated to our operating segment for purposes of measuring segment operating income / (loss) and are included in "Reconciling items."
(2) The full operating results included above for our equity method investments are not included within our consolidated results and thus are deducted under "Reconciling items" and replaced with our income / (loss) from equity method investments (see Note 6 - Equity Method Investments).
Geographic data
Revenues are attributed to geographical location based on the country of operations for drilling activities, and thus the country where the revenues are generated.
The following presents our revenues by geographic area:
Three months ended June 30, 2023Three months ended June 30, 2022Six months ended June 30, 2023Six months ended June 30, 2022
South East Asia58.5 39.1 110.4 69.9 
West Africa45.9 24.6 89.3 46.9 
Mexico43.0 17.5 82.5 36.4 
Middle East31.6 5.1 62.2 5.1 
Europe8.5 19.0 15.1 29.0 
Total187.5 105.3 359.5 187.3 

Major customers
The following customers accounted for more than 10% of our dayrate and related party revenues:
Three months ended June 30, 2023Three months ended June 30, 2022Six months ended June 30, 2023Six months ended June 30, 2022
(In % of operating revenues)
Perfomex17 %9 %18 %11 %
ENI Congo S.A.14 %— %14 %— %
Saudi Arabian Oil Company13 %— %13 %— %
PTT Exploration and Production Public Company Limited9 %14 %9 %16 %
Total53 %23 %36 %16 %
Fixed Assets — Jack-up rigs (1)
The following presents the net book value of our jack-up rigs by geographic area:
June 30, 2023December 31, 2022
(In $ millions)
South East Asia842.5 832.5 
Mexico661.3 675.5 
Middle East553.0 481.2 
West Africa448.8 507.0 
Europe93.3 92.9 
Total2,598.9 2,589.1 
(1) The fixed assets referred to in the table above excludes assets under construction. Asset locations at the end of a period are not necessarily indicative of the geographical distribution of the revenues or operating profits generated by such assets during the associated periods.