I don't know the details of this lease, but it is likely a capital lease, not an operating lease. The lessee will not have the option of returning it. It will b

I don't know the details of this lease, but it is likely a capital lease, not an operating lease. The lessee will not have the option of returning it. It will be recognized as an asset on the lessee's balance sheet. The lessee backs the lease not just with the collateral, but with the full value of the capital structure up to any debt senior to it. It's a bet against progress in the field only to the extent that they depend on the collateral if the lessee fails. Lessors hate getting collateral back. So they've probably looked at the lessee's capital structure and decided that, along with whatever interest rate they're getting, it's a reasonably priced risk. They're likely mapped out their estimated risk of default by year along with a declining recovery value of the collateral by year.