Revenue and Customers (Tables)

3 Months Ended

Mar. 31, 2025

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 March 31,
	2025		2024
Floaters	$	693,451	$	494,467
Jackups	138,977		117,958
Total	$	832,428	$	612,425

Schedule of Contract Assets and Contract Liabilities

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

	March 31, 2025		December 31, 2024
Current customer contract assets	$	24,899	$	26,049
Noncurrent customer contract assets	8,940		11,042
Total customer contract assets	33,839		37,091
Current deferred revenue	(60,578)		(61,506)
Noncurrent deferred revenue	(44,405)		(40,439)
Total deferred revenue	$	(104,983)	$	(101,945)

Significant changes in the remaining performance obligation contract assets and the contract liabilities balances for the three months ended March 31, 2025 and 2024, are as follows:

	Contract Assets		Contract Liabilities
Net balance at December 31, 2024	$	37,091	$	(101,945)
Additions to deferred costs	10,183		—
Additions to deferred revenue	—		(59,999)
Amortization of deferred costs	(13,435)		—
Amortization of deferred revenue	—		56,961
Total	(3,252)		(3,038)
Net balance at March 31, 2025	$	33,839	$	(104,983)
Net balance at December 31, 2023	$	4,416	$	(43,072)
Additions to deferred costs	3,748		—
Additions to deferred revenue	—		(23,911)
Amortization of deferred costs	(2,707)		—
Amortization of deferred revenue	—		7,208
Total	1,041		(16,703)
Net balance at March 31, 2024	$	5,457	$	(59,775)

	Unfavorable contacts		Favorable contracts
Balance at December 31, 2024	$	(8,580)	$	214
Additions	—		—
Amortization	7,664		(214)
Balance at March 31, 2025	$	(916)	$	—

Estimated future amortization over the expected remaining contract periods:

	Year Ended December 31,
	2025		Total
Unfavorable contracts	$	916	$	916
Favorable contracts	—		—
Total	$	916	$	916