Details of Certain Accounts

3 Months Ended

Mar. 31, 2026

Details of Certain Accounts

Details of Certain Accounts

Note 3 — Details of Certain Accounts

Other current assets consist of the following (in thousands):

	March 31,		December 31,
	2026		2025
Prepaids	$	33,116	$	29,345
Income tax receivable		18,302		7,383
Contract assets (Note 8)		9,696		10,871
Deferred costs (Note 8)		13,420		18,678
Other		13,373		9,580
Total other current assets	$	87,907	$	75,857

Other assets, net consist of the following (in thousands):

	March 31,		December 31,
	2026		2025
Prepaid charter (1)	$	12,544	$	12,544
Deferred costs (Note 8)		7,380		6,910
Other receivable (2)		27,945		27,291
Intangible assets with finite lives, net		3,131		3,262
Other		1,301		1,411
Total other assets, net	$	52,301	$	51,418

(1) Represents prepayments to the owner of the Sea Helix 1 and the Siem Helix 2, which may be used to offset certain payment obligations associated with the vessels at the end of their respective charter term.

(2) Represents the present value of receivables for P&A work to be performed by us on Droshky field oil and gas properties we acquired from Marathon Oil Corporation in 2019.

Accrued liabilities consist of the following (in thousands):

	March 31,		December 31,
	2026		2025
Accrued payroll and related benefits	$	34,700	$	45,463
Accrued interest		2,570		10,102
Deferred revenue (Note 8)		13,793		17,115
Other		18,074		22,271
Total accrued liabilities	$	69,137	$	94,951

Other non-current liabilities consist of the following (in thousands):

	March 31,		December 31,
	2026		2025
Asset retirement obligations (Note 12)	$	70,309	$	68,770
Other		2,641		2,663
Total other non-current liabilities	$	72,950	$	71,433