6.Lease Receivables

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The Company’s lease receivables consist of the following:

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The leases are direct financing leases of drilling equipment.  The lease terms are three to four years with a residual payment at the end of the term.  The lease terms include provisions for prepayment after a certain period. For the year ended December 31, 2024, lease payments received totaled $0.2 million and lease revenue was less than $0.1 million.

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Lease receivable maturities including residual values as of December 31, 2024 are as follows:

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