Lease Receivables |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 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 dependent on the executed contract. For the six months ended June 30, 2026 and 2025, lease payments received totaled $0.4 million and $0.3 million, respectively. Lease income was $0.1 million and $0.1 million for the six months ended June 30, 2026 and 2025, respectively. Lease receivable maturities including residual values are as follows:
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