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Leases - Components of Lease Costs (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Lease, Cost [Abstract]        
Finance lease cost - interest on lease liabilities $ 3,272 $ 3,657 $ 6,644 $ 7,365
Operating lease cost, excluding short-term leases [1] 1,113 1,188 2,010 2,096
Short-term lease cost [2] 4,787 36,864 17,439 69,849
Variable lease cost [3] 616 827 1,232 1,190
Variable and fixed sublease income (359) (69) (718) (69)
Total lease cost $ 9,429 $ 42,467 $ 26,607 $ 80,431
[1] Operating lease cost 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, most of which are short-term contracts not recognized as a right-of-use asset and lease liability on the Condensed Consolidated Balance Sheets. The short-term operating lease costs incurred during the periods presented are not indicative of the Company’s current short-term lease obligations, which are approximately $116.1 million as of June 30, 2024, or its future short-term lease costs and obligations, as it routinely enters into short-term contracts for the use of drilling rigs to support its drilling activities.
[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.