v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Operating revenues        
Operating revenues $ 848,652 $ 692,844 $ 1,723,139 $ 1,329,928
Operating costs and expenses        
Depreciation and amortization 147,085 90,770 290,222 177,468
General and administrative 34,976 39,669 70,184 65,630
Merger and integration costs 5,302 10,618 20,222 19,949
(Gain) loss on sale of operating assets, net (4,751) (17,357) (4,751) (17,357)
Total operating costs and expenses 713,399 482,885 1,400,547 1,012,422
Operating income (loss) 135,253 209,959 322,592 317,506
Other income (expense)        
Interest expense, net of amounts capitalized (39,997) (11,996) (80,464) (29,540)
Interest income and other, net 4,712 (8,183) 6,549 (12,918)
Income (loss) before income taxes 99,968 189,780 248,677 275,048
Income tax benefit (provision) (57,096) 5,228 (97,502) 15,441
Net income (loss) $ 42,872 $ 195,008 $ 151,175 $ 290,489
Basic:        
Net income (loss) (in usd per share) $ 0.27 $ 1.37 $ 0.95 $ 2.04
Diluted:        
Net income (loss) (in usd per share) $ 0.27 $ 1.34 $ 0.93 $ 1.99
Contract drilling services        
Operating revenues        
Operating revenues $ 812,077 $ 660,710 $ 1,644,505 $ 1,273,135
Operating costs and expenses        
Cost of services 502,427 335,854 964,526 725,721
Reimbursables and other        
Operating revenues        
Operating revenues 36,575 32,134 78,634 56,793
Operating costs and expenses        
Cost of services $ 28,360 $ 23,331 $ 60,144 $ 41,011