Lease Receivables |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Lease Receivables | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Lease Receivables |
The Company’s lease receivables consist of the following:
The leases are direct financing leases of drilling equipment. The lease terms are to five years with a residual payment at the end of the term. The lease terms include provisions for prepayment after a certain period. For the three months ended March 31, 2025, lease payments received totaled $0.1 million and lease revenue was less than $0.1 million. Lease receivable maturities including residual values are as follows:
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