v3.25.2
Unaudited Consolidated Balance Sheets - USD ($)
$ in Millions
Jun. 30, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 92.4 $ 61.6
Restricted cash 1.0 0.9
Prepaid expenses 17.2 8.4
Deferred mobilization and contract preparation costs 33.7 40.6
Accrued revenue 137.6 107.7
Other current assets 30.8 28.0
Total current assets 468.3 516.6
Non-current assets    
Property, plant and equipment 2.3 2.8
Jack-up drilling rigs, net 2,792.4 2,823.2
Equity method investments 12.5 14.5
Other non-current assets 76.2 62.5
Total non-current assets 2,883.4 2,903.0
Total assets 3,351.7 3,419.6
Current liabilities    
Trade accounts payables 63.8 81.6
Accrued expenses 65.0 68.0
Short-term accrued interest and other items 29.7 30.6
Short-term debt 118.1 118.1
Short-term deferred mobilization, demobilization and other revenue 42.8 27.1
Other current liabilities 47.7 84.2
Total current liabilities 367.1 409.6
Non-current liabilities    
Long-term debt 1,933.4 1,992.5
Long-term deferred mobilization, demobilization and other revenue 37.4 21.0
Other non-current liabilities 1.2 3.2
Total non-current liabilities 1,972.0 2,016.7
Total liabilities 2,339.1 2,426.3
Shareholders’ Equity    
Common shares of par value $0.10 per share: authorized 315,000,000 (2024:315,000,000) shares, issued 244,400,000 (2024: 264,080,391) shares and outstanding 236,224,866 (2024: 244,926,821) shares 24.5 26.5
Treasury shares (20.0) (20.9)
Additional paid in capital 347.7 340.8
Contributed surplus 1,919.0 1,923.7
Accumulated deficit (1,258.6) (1,276.8)
Total equity 1,012.6 993.3
Total liabilities and equity 3,351.7 3,419.6
Nonrelated party    
Current assets    
Trade receivables, net 149.2 184.3
Related party revenue    
Current assets    
Trade receivables, net $ 6.4 $ 85.1