Jeremy D. Thigpen
everyone to welcome today's call. in and participating Brad, you, Thank
XX% our continued in the the efficiency XXXX, excess $XXX billion This quarter. efficient adjusted organizational by operational the As reported focus million generated of backlog of EBITDA over with XX%, revenues. in once contract resulting in across global generating million fleet, yesterday's total drilling was of revenue the industry-leading again company quarter for $XX.X earnings in normalized EBITDA third in of efficiency our of release, on conversion and normalized margin and EBITDA the adjusted strong driven $XXX on uptime well-priced performance
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rates into to we and XXXX rates, believe appreciate we should day that move as begin through XXXX. of Speaking
strengthened have relatively in for sustained We balance prices the improving not energy The above the improved are sentiment increase meaningfully contracting and the flows have seeing customers. oil in Brent per of surprising $XX remained have recently because belief above steadily barrel most the cash per prices this the climbed space. $XX and barrel. our year is activity we sheet as high and These of
reserves is Additionally, indicate healthy by offshore Needless increasing horizon flows to the levels of most per In investment. supply questioned high the recovery oil timing relatively breakeven with and to need questions replace growth from for the sequentially almost to developments. say, and increased offshore need deepwater levels Today, direction the agree high XX% a customer's energy offshore whether price quarter, continues projects current the project for around are at combined the show future to XX simply the of economics are combination demand as increase were cash months the XXs free would directly in most market. to rebound. with ranging be This, ago, for almost appears backdrop break XX% XXs, to optimism shape. XX our that impacting prices, of below contracting an investors of analysts and our tenders XXX. level short, on sequentially of ever we market evens, and and signed encouraged contracts asking is low to about and customers the the sustained XX some increasing barrel
will we to cost discipline our contracting remain to opportunities await the while we it. enhance and those structure, As existing answers to strategic continuing drilling reliability, on equipment exercise questions, fleet safety, critical efficiency evaluating and further our focused in
appreciate we Transocean your thank Mark, another and Mark? handing team the just you focus as to both sincerely quarter. that out the maintain year. the would commitment strong over I close Before ask like call continued delivering for I entire and to
