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Unaudited Consolidated Balance Sheets - USD ($)
$ in Millions
Jun. 30, 2023
Dec. 31, 2022
Current assets    
Cash and cash equivalents $ 83.8 $ 108.0
Restricted cash 0.0 2.5
Trade receivables, net 53.9 43.0
Prepaid expenses 9.2 9.6
Deferred mobilization and contract preparation costs 25.7 38.4
Accrued revenue 54.7 57.4
Other current assets 32.8 25.4
Total current assets 341.9 349.9
Non-current assets    
Non-current restricted cash 0.0 8.0
Property, plant and equipment 4.0 3.9
Newbuildings 3.5 3.5
Jack-up drilling rigs, net 2,598.9 2,589.1
Equity method investments 17.1 20.6
Other non-current assets 30.7 26.7
Total non-current assets 2,654.2 2,651.8
Total assets 2,996.1 3,001.7
Current liabilities    
Trade payables 37.8 47.7
Accrued expenses 90.6 80.8
Short-term accrued interest and other items 76.3 77.7
Short-term debt 97.9 445.9
Short-term deferred mobilization, demobilization and other revenue 52.4 57.3
Other current liabilities 43.5 36.2
Total current liabilities 398.5 745.6
Non-current liabilities    
Long-term accrued interest and other items 23.6 29.7
Long-term debt 1,541.7 1,191.1
Long -term deferred mobilization, demobilization and other revenue 54.7 68.7
Other non-current liabilities 16.9 14.3
Onerous contracts 54.5 54.5
Total non-current liabilities 1,691.4 1,358.3
Total liabilities 2,089.9 2,103.9
Shareholders’ Equity    
Common shares of par value $0.10 per share: authorized 315,000,000 (2022:255,000,000) shares, issued 254,263,598 (2022: 229,263,598) shares and outstanding 245,102,732 (2022: 228,948,087) shares 25.5 23.0
Treasury shares (10.7) (9.8)
Additional paid in capital 2,279.0 2,265.6
Accumulated deficit (1,387.6) (1,381.0)
Total equity 906.2 897.8
Total liabilities and equity 2,996.1 3,001.7
Related party    
Current assets    
Due from related parties $ 81.8 $ 65.6