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Operating Days
Counts the total days rigs were operating under contract across the fleet, a direct driver of topline revenue and near-term cash flow. Rising operating days point to stronger demand and revenue visibility; falling days can reflect downtime, maintenance, seasonality, or weak market conditions.Operating Days have climbed meaningfully over the past two years, reflecting that recent contract awards and backlog are converting into real fleet utilization — the operational driver behind the stronger margins and cash flow management highlighted on the call. Higher utilization underpins debt‑paydown plans and free‑cash‑flow generation, but sustaining gains depends on avoiding costly reactivations, managing inflationary fuel/logistics pressures, and potential timing/terms risk from the Valaris antitrust review.
Date | Operating Days |
|---|---|
Jun 30, 2026 | 1.92K |
Mar 31, 2026 | 2.11K |
Dec 31, 2025 | 2.13K |
Sep 30, 2025 | 2.11K |
Jun 30, 2025 | 2.04K |
Mar 31, 2025 | 1.94K |
Dec 31, 2024 | 2.09K |
Sep 30, 2024 | 2.08K |
Jun 30, 2024 | 1.89K |
Mar 31, 2024 | 1.78K |