Revenue and Customers (Tables)

9 Months Ended

Sep. 30, 2024

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 September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Floaters	$	605,327	$	549,130	1,617,538		1,519,346
Jackups	158,216		121,874		419,140		333,128
Total	$	763,543	$	671,004	$	2,036,678	$	1,852,474

Schedule of Contract Assets and Contract Liabilities

The following table provides information about contract assets and contract liabilities from contracts with customers:

	September 30, 2024		December 31, 2023
Current customer contract assets	$	17,166	$	4,208
Noncurrent customer contract assets	13,759		208
Total customer contract assets	30,925		4,416
Current deferred revenue	(48,148)		(19,679)
Noncurrent deferred revenue	(37,721)		(23,393)
Total deferred revenue	$	(85,869)	$	(43,072)

Significant changes in the remaining performance obligation contract assets and the contract liabilities balances for the nine months ended September 30, 2024 and 2023, are as follows:

	Contract Assets		Contract Liabilities
Net balance at December 31, 2023	$	4,416	$	(43,072)
Amortization of deferred costs	(17,088)		—
Additions to deferred costs	43,597		—
Amortization of deferred revenue	—		54,411
Additions to deferred revenue	—		(97,208)
Total	26,509		(42,797)
Net balance at September 30, 2024	$	30,925	$	(85,869)
Net balance at December 31, 2022	$	11,537	$	(59,797)
Amortization of deferred costs	(21,722)		—
Additions to deferred costs	13,356		—
Amortization of deferred revenue	—		62,125
Additions to deferred revenue	—		(35,891)
Total	(8,366)		26,234
Net balance at September 30, 2023	$	3,171	$	(33,563)

	Unfavorable contracts		Favorable contracts
Balance at December 31, 2023	$	(50,863)	$	10,128
Additions	(27,663)		—
Amortization	55,129		(8,549)
Balance at September 30, 2024	$	(23,397)	$	1,579
Balance at December 31, 2022	$	(181,883)	$	34,372
Additions	—		—
Amortization	118,571		(23,031)
Balance at September 30, 2023	$	(63,312)	$	11,341

Estimated future amortization over the expected remaining contract periods:

	For the Year Ended December 31,
	2024		2025		Total
Unfavorable contracts	$	14,531	$	8,866	$	23,397
Favorable contracts	(1,365)		(214)		(1,579)
Total	$	13,166	$	8,652	$	21,818