today’s call. and in Thank participating Brad, everyone you, to welcome
on global adjusted for EBITDA results million fleet, our by which earnings yesterday’s delivering drilling These in exceptional combination driven uptime and $XXX release for Transocean rigs the earned of bonuses, efficient reported performance a operations. performance generated safe of $XXX As adjusted largely we quarter million second and and multiple were revenue. in across of XXXX,
acquired in of fleet superior the half testament efficiency years. two quarter we've of the revenue over to a the bonuses and strong of operating resulted has the and combination both legacy performance For the performance Transocean XX%, the approximately is and past second which customer uptime assets this XXXX, first for
their our consistent our a support performance, receiving factor. support short for the also care staff and strong through crews credit OEM are is of agreements and uptime contributing deserve a partners our we While based from great deal that
and I successfully template we And the to report as to include four in Rig quarter, to active have last of synergies added transaction alluded through recognize the we the At acquired as in in Ocean as additional I'd have to team pleased the Rig. ultra-deepwater seamless anticipated effectively Transocean rigs thank like that place those take Ocean am we transaction like roles this And care who we move turn recognize to expect fully played also this integration those to to the integral have rigs the another I the employees point, other solid assets the opportunity and agreements. work. completed of integration quarter. entire I'd delivering we of balance to this timely the for year. to
ships. notable. Two per $XXX,XXX fixture empire right need we contracts clearly a be a ago, day, selected with Asgard Mexico of the in are months. result opportunity we to since bonus, weeks a execution a addition ultra-deepwater and to during at over drill drill This in certainly What to day. last coming could and the demonstrates for period, performance we rate for earn In high secured the we believe in the expect that compensation Deepwater $XXX,XXX couple the two which total to our specification approaching Murphy of the of which wells direction rates call, Gulf moving to strong
including approximately Transocean three XXX Equinor in estimated improvement is fixture a Barents Barents pleased next earn last an Canada, to as point, trust it is bank data environment well we rate contract demonstrates high positive Needless week, also of prior an another the spring, with It for just the working abilities. duration and we in a secured of to days Equinor's this As full beginning say, are contract. with along revenues and to with is contract, It of over opportunities demobilization approximately very $XX the the to able to firm specification expected million were downtime bonuses. tangible secure to indicator as services harsh recovery. RV part additional generate further important of term rig also to another rigs note the market our that secure that this performance casing in is the represents mobilization,
we these evidenced We bring our rates fleet. customer efficiency to tremendous pushing are across programs. day actively As two contracts, by our global drilling
levels need the we rates to of we such, more value that create. to increase reflective day are that As
More for importantly, free levels that us meaningful generate day enabled must to improve flow. cash rates
unless demonstrate in forward fleet In most future restricted post all customers go our a consistent on rates. basis our fact day rates contracted to report, recently filed our result by day elevating with we'll status and
that will day terms day appropriate aligned of contracting reactivation believe returns. longer sum Furthermore, philosophy that the visibility combined approach rate not with without for to our lump better to our asset costs higher rates, being form and/or help we compensated the an in this expectations with reactivation investors' is will startup for our reactivate We disciplined and reimbursements. demonstrate
of rig Turning count market the active increased in floating half first X% to year. the the overall, the
number clearly markets, the keeping Importantly, day high in while rates level And floaters when utilization contracted the direction, year-over-year driven increase pace ship. under a XX%. not specification remains by same at environment they future experienced ultra-deepwater number right including drill of have working in the XX% at rigs overall or near trajectory with yet market ultra-deepwater above assets, the the contract are XXX the trending in recovered as of total harsh
end had averaged an Brent which the fundamentals. per environment barrel we even per by year, range both by direction driven $XX which recovery sharper encouraged we markets, is crude market being most While for dipped have and in start of into underlying at year the certainly $XX low and to would improvement are preferred continued of XXXX. overall last the around the the the harsh ultra-deepwater barrel
continue we to industry, $XX to at contributing or most of the delivery ultra-deepwater projects per an operations, barrel. below As streamline
ratios they our during Reserve of off a generated decline. year record cash customers collectively which coming our for to are continue many And customers replacement flows.
Mexico, So In that come with in world. have rates basin it remain should are as evaluated multiple US in and the tertiary that major of around rigs operators discussions require require pressure Gulf high customers Gulf surprise of incremental rigs of and the programs rates around had bottom day operating also would regarding engaged Mexico need utilization XX,XXX no off completions. as the moved of for several projects We've the we the being lower there the multiple in additional with the PSI region. every that capable
into our the later our as In to teams the exploration numerous with this Chevron been construction fact down have path. multi very rig sister well the Given well that which customers activity this Deepwater proceed experience Shell Jurong we should we in our our results anticipate activity, are and Mexican have program We and poised positive. programs Titan waters Mexican XXXX. the year, currently with initial campaign decided running and third to and shipyard, beginning operators Titan, initiate early from well appear further technical positioned that operations strong under we believe
Guyana, This second BHP of field neighboring couple numerous it's and not the programs the are the of past recent just in to well Additionally, years over we the in however, quarter. surprising the Caribbean, Trion first third in of during see here. fixture exploration encouraged In in is light drilling of in immense a award for anticipate success hopefully we awards the Suriname.
fleet Moving remain of in the the schedule arrive this Petrobras history contracting industry opportunities which commence rigs, the we Rig will are future this and quarters base, that performance time and fourth quarter, coming we region, in advantage in well will three leading take With to Brazil local operating Corcovado operations drilling years. of to Ocean in Brazil, Ocean in our Rig Rig installed feel the Mykonos available our we have to Ocean country. shifts poised that undoubtedly on the remaining the and at
Equatorial discussed to emerging campaign continuing Coast. Nigeria, her will This Burullus it's the that And Africa, a calls, Triangle. Ivory Golden on successful cycle India of nature, as Discoverer August. note in to we in represents in this last noted stated years the in the begin combined This improvement can West are Ghana, with Senegal and Gulf region in impact in longer throughout and utilization Egypt drilling opportunities represent we and awards an In follows In and quarter a Mexico the the campaign past CNRL here would are Guinea significantly. progress. Angola, in with significant have in therefore increased activity Brazil the likely typically development market the as with optimism of number Africa important rig
contracted program end the for the Nautilus In through its work and This year. Asia the Pacific, Deepwater has Shell six-well run in in of commenced will May Malaysia. again
We opportunities $XXX,XXX day continue day reflect rigs to solidly in where mid awards to in per in strengthening additional market, horizon. see recent with especially Australia, this high the on range, the
remains to market, Turning Norwegian North harsh Sea the strong. now the environment
the has newest high the and for into contract later we world includes contract In she as she anticipate options September. to maiden approaches marks end May her extend demand our be class scheduled XXXX, this Norge This The fleet that of seventh high that term. will our commence today. but Transocean its specification in semi-submersible suitable addition in market, is the pro fact to asset
Canada. pleased As are be previously in the mentioned, we keeping Barents to
Canada good specification clearly the she have country. in by in We and the her to the encouraged visibility as to Barents asset remain work future prospects highest is
of and that of to very she the next However, which will continue we the maintain seek to deserves, for well year the again be and And we believe UK. day secure fit can returning for UK, confident, place we market fixtures assets in performs where we the we her Independent from our summer, unable likelihood if her. feel the suggests drilling so to tight majors purpose well bodes terms rates finally the for the option we're in Norway that around alike
and In we're demobilization. in where and, utilized. banks pleased are for some the specification providing rates direction extremely harsh and approaching with cases, once environment tier $XXX,XXX market high a summary, day, Day again reimbursements per top are exceeding mobilization are downtime customers assets of and fully our
we're of moved we expect frustrated recovery. be While in clearly off and pace a ourselves remind with of stages bottom early the are somewhat broader the the trajectory we ultra-deepwater we and market, what much that have the will
is well exceptionally prepared. transition For uniquely and this
and positioning flows. cash future providing backlog, We have largest spent the ourselves last offshore the visibility us several by drilling to unparalleled establishing profitable most years industry's with
support based personnel. fleet largest, most our us you industry's industry's technically on of talented the our to next the those most call, and Until and count continue shore within of The to rigs, execute crews span experienced can on capable things floating control. and
prudently as Specifically, hydrate just past will these to months. we did few we fleet continue our
added to for to explore free we our the an no to contracted partnerships the and Norge Actinia. the environment, safety will and no customers. we engineered continue which As personal recycle events we fleet solutions, strategic training, Through to process and our no means decision downtime made incident injuries, opportunities create unplanned
We that invest economically cash and transition the portfolios. operate. the will communities which initiatives and number our to actions the their continue viable to liquidity increase automate continue that responsibly respective these rate workforce we our ensure activities to of our We need technologies will or to that and for recovery. run streamline extend against executing the customer necessary we have leverage drilling processes our in in we within new position take believe plans outperform and assets, develop best and we existing to targets And and the
call I'll now hand the over Mark. to
