Other Charges |
6 Months Ended |
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Jun. 30, 2026 | |
| Restructuring and Related Activities [Abstract] | |
| Other Charges | Other Charges Exit from Contract Drilling Operations in Colombia During the second quarter of 2026, management approved a plan to exit our Colombian contract drilling operations within the Drilling Services segment. Changes in Colombia’s political environment, coupled with continued reductions in activity forecasts and challenging market conditions in the region, have reduced the attractiveness of additional investment. The exit activity is expected to be substantially completed over the next year. During the second quarter of 2026, we recognized approximately $21.0 million of exit and disposal costs, consisting of approximately $20.0 million in direct operating expenses related to inventory and other asset write-downs and approximately $1.0 million in rig impairment expense within the consolidated statements of operations. We currently estimate that approximately $5.0 million of additional costs will be incurred to complete the exit activities, primarily related to employee termination benefits and other costs directly associated with wind-down activities. Actual costs and the timing of completion may differ from current estimates.
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