Reformatting a Wrongly Formatted Time field to a decimal (i.e. 8:30 PM to 8.3 hours)

Good Morning -

I am hoping someone out there can help me.

I got this report out of a legacy system and the data was formatted in a very strangely. In the report, the hours field was formatted with a ":" instead of a "."
Now, I can't seem to get around the time formatting since Excel is convinced the field is supposed a time.

For example, the column will say 0:15, but that really is 15 minutes. Excel thinks this actually 12:15 so if I convert it to general it reverts to 0.0104166666666667. I tried to do a find and replace (remove Am, PM and Replace ":" with ".") but excel either reverts back to time formatting or reverts the time value is 0.0104166666666667.

Any help with this would be greatly appreciated!