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Segment and Related Information
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Segment and Related Information
Note 13 — Segment and Related Information
We report our contract drilling operations as a single reportable segment, Contract Drilling Services, which reflects how we manage our business. The mobile offshore drilling units comprising our offshore rig fleet operate in a global market for contract drilling services and are often redeployed to different regions due to changing demands of our customers, which consist primarily of large, integrated, independent, and government-owned or controlled oil and gas companies throughout the world. Our reportable segment comprises the structure used by our Chief Executive Officer, who has been determined to be our chief operating decision maker (“CODM”), for assessing performance and allocating resources. We regularly provide management reports to the CODM that include a segment revenue amount and segment contract drilling services costs. Our CODM evaluates the segment’s operating performance based on operating revenues and operating income (loss). Refer to the Company’s Consolidated Statements of Operations for additional information.
As of December 31, 2024, our contract drilling services segment conducted drilling operations in Africa, Far East Asia, the Middle East, the North Sea, Oceania, South America, and the US Gulf. Included in our long-lived assets balance below is our property and equipment and right-of-use assets. We used the geographic location as of December 31, 2024 and 2023, of each drilling rig, operating lease, and finance lease for our property and equipment and right-of-use assets, respectively, for our long-lived assets geographic disclosure shown below.
The following table presents revenues and long-lived assets by country based on the location of the service provided during the period:
RevenuesLong-Lived Assets as of
Year EndedYear EndedYear Ended
December 31, 2024December 31, 2023December 31, 2022December 31, 2024December 31, 2023
Australia$242,721 $154,860 $78,899 $59,202 $83,162 
Brazil107,014 92,022 33,208 315,084 114 
Colombia94,560 53,646 — 163,719 98,979 
Denmark75,971 88,914 40,806 333,618 508,715 
Ghana138,176 150,677 35,018 — 241,132 
Guinea Bissau
13,947 — — 300,962 — 
Guyana676,234 703,473 469,267 762,746 733,803 
Malaysia203,495 87,105 32,227 292,878 234,469 
Mexico— 139,595 30,788 — — 
Namibia7,537 27 19 253,652 — 
Netherlands42,107 36,510 13,378 75,421 134,887 
Nigeria135,331 143,641 — 73,296 67,495 
Norway236,834 249,308 154,406 487,183 498,845 
Suriname82,082 108,532 133,680 — — 
Trinidad and Tobago— 2,135 35,101 78,396 382,369 
United Kingdom190,804 65,710 55,632 755,712 353,656 
United States685,835 437,346 266,176 1,666,748 575,960 
Other125,170 75,517 35,242 530,539 235,881 
Total$3,057,818 $2,589,018 $1,413,847 $6,149,156 $4,149,467 
Significant Customers
The following table sets forth revenues from our customers as a percentage of our consolidated operating revenues:
Year EndedYear EndedYear Ended
December 31, 2024December 31, 2023December 31, 2022
Exxon Mobil Corporation (“ExxonMobil”)22.1 %24.5 %32.3 %
Shell plc12.3 %13.6 %12.0 %
TotalEnergies6.3 %10.5 %9.7 %
No other customer accounted for more than 10% of our consolidated operating revenues in 2024, 2023, or 2022.