Leases (Tables)

9 Months Ended

Sep. 30, 2025

Leases [Abstract]

Schedule of Maturity of Operating Lease Liabilities

During the third quarter of 2025, the Company exercised an option to extend an operating lease pertaining to a drill ship used in our offshore business. This resulted in an increase of $167.1 million (discounted) to our right-of-use assets and operating lease liabilities at September 30, 2025.

Maturity of Lease Liabilities

(Thousands of dollars)	Operating Leases		Finance Leases		Total
2025	$	60,970	$	319	$	61,289
2026	248,750		1,274		250,024
2027	141,648		1,274		142,922
2028	62,259		1,275		63,534
2029	59,471		464		59,935
Remaining	419,202		958		420,160
Total future minimum lease payments	992,300		5,564		997,864
Less imputed interest	(199,449)		(1,352)		(200,801)
Present value of lease liabilities 1	$	792,851	$	4,212	$	797,063

1 Includes both the current and long-term portion of the lease liabilities.

Schedule of Maturity of Finance Lease Liabilities

During the third quarter of 2025, the Company exercised an option to extend an operating lease pertaining to a drill ship used in our offshore business. This resulted in an increase of $167.1 million (discounted) to our right-of-use assets and operating lease liabilities at September 30, 2025.

Maturity of Lease Liabilities

(Thousands of dollars)	Operating Leases		Finance Leases		Total
2025	$	60,970	$	319	$	61,289
2026	248,750		1,274		250,024
2027	141,648		1,274		142,922
2028	62,259		1,275		63,534
2029	59,471		464		59,935
Remaining	419,202		958		420,160
Total future minimum lease payments	992,300		5,564		997,864
Less imputed interest	(199,449)		(1,352)		(200,801)
Present value of lease liabilities 1	$	792,851	$	4,212	$	797,063

1 Includes both the current and long-term portion of the lease liabilities.

Summary of Other Lease Information

Lease Term and Discount Rate

	September 30, 2025		December 31, 2024
Weighted average remaining lease term:
Operating leases	8 years		8 years
Finance leases	5 years		6 years
Weighted average discount rate:
Operating leases	5.5	%	5.7	%
Finance leases	4.9	%	4.9	%