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v3.26.1

Revenue and Customers (Tables) | 6 Months Ended
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Jun. 30, 2026
Revenue from Contract with Customer [Abstract] |
Schedule of Disaggregation of Revenue by Rig Types | The following table provides information about contract drilling services revenue by rig types:
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
|  | 2026 |  | 2025 |  | 2026 |  | 2025
Floaters |  | $ | 550,926 |  |  | $ | 684,320 |  |  | 1,171,482 |  |  | 1,377,771 |
Jackups |  | 128,518 |  |  | 127,757 |  |  | 250,515 |  |  | 266,734 |
Total |  | $ | 679,444 |  |  | $ | 812,077 |  |  | $ | 1,421,997 |  |  | $ | 1,644,505 |
Schedule of Contract Assets and Contract Liabilities | The following table provides information about contract assets and contract liabilities from contracts with customers:
|  | June 30, 2026 |  | December 31, 2025
Current customer contract assets |  | $ | 9,380 |  |  | $ | 29,525 |
Noncurrent customer contract assets |  | 158 |  |  | 1,112 |
Total customer contract assets |  | 9,538 |  |  | 30,637 |
Current deferred revenue |  | (53,827) |  |  | (64,400) |
Noncurrent deferred revenue |  | (38,889) |  |  | (32,718) |
Total deferred revenue |  | $ | (92,716) |  |  | $ | (97,118) |
Significant changes in the remaining performance obligation contract assets and contract liabilities balances for the six months ended June 30, 2026 and 2025, are as follows:
|  | Contract Assets |  | Contract Liabilities
Net balance at December 31, 2025 |  | $ | 30,637 |  |  | $ | (97,118) |
Additions to deferred costs |  | 7,197 |  |  | — |
Additions to deferred revenue |  | — |  |  | (33,951) |
Amortization of deferred costs |  | (28,296) |  |  | — |
Amortization of deferred revenue |  | — |  |  | 38,353 |
Total |  | (21,099) |  |  | 4,402 |
Net balance at June 30, 2026 |  | $ | 9,538 |  |  | $ | (92,716) |
Net balance at December 31, 2024 |  | $ | 37,091 |  |  | $ | (101,945) |
Additions to deferred costs |  | 25,409 |  |  | — |
Additions to deferred revenue |  | — |  |  | (92,321) |
Amortization of deferred costs |  | (29,790) |  |  | — |
Amortization of deferred revenue |  | — |  |  | 100,633 |
Total |  | (4,381) |  |  | 8,312 |
Net balance at June 30, 2025 |  | $ | 32,710 |  |  | $ | (93,633) |
|  | Unfavorable contracts |  | Favorable contracts
Balance at December 31, 2024 |  | $ | (8,580) |  |  | $ | 214 |
Amortization |  | 8,580 |  |  | (214) |
Balance at June 30, 2025 |  | $ | — |  |  | $ | — |

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- Definition Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 + Details
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- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-5 + Details
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