our to welcome in investors and call. customers, And employees, Lex. you, Thank participating today’s analysts
connectivity us communications are power deterioration quality you temperatures, to the for the the also calls know, of challenges. part record Therefore, to in the experiencing of for Texas, been we protocols and battling do have forgive and we As COVID-XX, as spread appropriate prevent water year, work we’ve part outages, continue today. better audio of past to any please of and our and many intermittent following low
quarter, $XXX in million revenue. the adjusted on earnings As Transocean for adjusted fourth in reported million $XXX yesterday’s delivered release, EBITDA of
past flow. by driven that unbelievably performance, us of which $XXX teams strong enabled operations generate presented logistical including the our can a efficient deliver was to the reliable and safe, our resilient cash and and we during challenges experienced, best-in-class Importantly, customers. year, continue operating Despite operating global faced and for new number to committed pandemic in we million physical unparalleled a hurdles, that
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across our We also Transocean. over delivered for new a XX% marked uptime global which fleet, best
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this even decreased. fleet due Therefore, our market has more Additionally, conditions, active to each to event our significant business. unplanned makes
So, a that, face, to best-in-class sacrifices and to to COVID-XX-related XXXX, needless pandemic continue entire like team continues demonstrate this our each our to Transocean service and inspiring. personal say, to throughout Despite our to truly customers. challenges extend strength the day the for deliver our great made we deepest that I operations to my team the of gratitude for delivered would every team is
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you the to done well transaction. for thank the again, continued entire and all team once for So, to do
Now turning Transocean in the Norway, fleet, starting we the where Barents. repositioned to recently
reputation she and already to have The off the that of further and has is change Norway, busy law MOL an This the in the from a kick set is second are the late pleased Norway, the additional of with outstanding keep quarter run extension Government’s campaign the Barents secured Norge. just and a direct and favorable highlights conditions to offshore in with contract result that is report, in in tax Also Transocean Transocean year. secured into We through end investment slated recently the the fixture to will market spur Equinor production. exploration summer. has attractive Norwegian her in help to resulting Norge
her projects continued can she several commence the that deliver. campaign. current customer bidding improved rig garner after into to of and completion her state-of-the-art actively This interest We’re has would
contract very Paul her the bright. third Jr., such, working the will Loyd, the extended In B As U.K., Chrysaor remains which quarter. continue future the now for through
excellence of week all Mexico, the BHP Deepwater working customer day and at of to its pleased I’m in the Gulf as floating recently Gulf the is best-in-class an This Deepwater the of a its campaign successful is Invictus for Offshore the to named assets one Mexico. advanced Staying finally the in a testament last to outstanding operational over Mexico, The Shell the Moving now announce the of of you exercised recently rate summer. Mexico. rig Gulf options our happy day. the Mexico, performance the The that Atlas the completed on year Gulf to rig announce one stacked, January. in its has just service. in the per well-respected is of $XXX,XXX warm of technically know, increased in Asgard most U.S. most to and Beacon Gulf of And rig but expected Asgard for through is of continue I’m
an further the and look we’re exercise Deepwater for the that XXX-day actively into extend option around Petrobras could option Brazil in her option and In from $XXX,XXX a the from opportunities. into extension during for day the Continuing in Corcovado ranging the As of fall. that that fleet, a announced The These a fourth a to the received These such, I’m BHP these the industry of Shell $XXX we report backlog. her activities XXX-day the busy summer contract signed to work $XXX,XXX rigs nearly with a million day XXXX through pleased one-well to attractive Trinidad. added keep with new to Deepwater extensions Trinidad, both keep focusing now Mykonos. August our bidding multiple day. Brazil her total fixtures will carry rates will and working DDX in through the leading quarter,
customer and terminate as monitor for priority. to expected there recent zero Skyros large term number Asia-Pacific one crew KGX. closely part November term India, The has February. the performance attempted that announce option Deepwater pleased continue than the remaining million I region, rig believe I’m to contract continue loss to the continued due operate rig her a We the the that Furthermore, new exercised Africa, of its the report commenced will to end added with all we in at under with Deepwater development March remedies. in a backlog. Nautilus Reliance events in will keep to to recently signed the with safety strongly busy report West termination to Petronas and summer. we to customer In early urgently Myanmar. the I’m with be working assured, XXXX. the superior and to Shifting area, I’m yesterday quarter, we in crew more safely of on Rest into Malaysia the Despite named time the into to XXXX our Nautilus rig $XX the this and in is with over during our Total will Pasco. that The fourth invalid its was just are for its applicable that the that her the contract quarter end as fixture onboard. was the Also in pleased the of early Moving of record. expire KGX we seven-well pleased has year This the our pursuing Woodside attempted at
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launching Inspiration for this have their the opportunities. Brazil, Our stability and into well commence upwardly that awards delayed in to the Petrobras should line timing planning of economic and but reacting both activity multiyear we stellar to many to contracts previously and adding globe, long-term going U.S. the fixtures and technical not global in additional XXXX rigs year We of believe half of new in of recovery. and available with customers weeks projects second with coming continues expected started projects Brazil. several to And in project are capitalize increase starting the around biased Asgard look In these later make next to Marinas and this in specifications recently several on Mexico, the and the given expected the XXXX. expected early Gulf starting for Trese closer all placed if tenders are months. Taking reputations, a is the the or awards,
pack. tax are we seeing, optimistic successful return wells the activity about to of off the signal will excited Encouraged to incentives during Petrobras’ count the of from market in IOCs unfolding levels over Norway, on demand incentives. incrementally in of that steadily contracts, past matching forward recent rig welcome pace couple in seen with haven’t signs rise rigs project Brazil pre-salt favorable over coupled brought a the this years. We IOCs continue tender gas we projects We next few favorable based the to Brazil handful more account, are we the that by fields sustain Government’s the by result a Norwegian few a for the as of enactment tighten well to expect years exploration the the with and coming next adding of the are sanction investment we opportunities capitalize and to In the on years. anticipate as will are
I mentioned, the to see this with already As the started previously Transocean of Barents. contracting we’ve to fruition come
region, excluding and for multiyear Africa, the could which tender. Mozambique, for Asia-Pacific several in Looking The year. lack Exxon we’ve hot appeared emerged, over of In that by XX medium-term the including long-term Australia, months, encouraged since the programs could short- dearth Total’s several what the next pool multiyear are of now Angola, be in a coming Norway see warm and resurgence the medium- some first seen and U.K., prospects U.K. slight to of we available including be Total’s second activity that perform of could tender opportunities from following a see rigs awarded of tender actually be year. starting multiyear half anticipated we has well work including and XXXX. the rigs In a the we tender tendering this in awarded at see the new now witnessed we’ve to
may half we and generated the volume continued of this As brought In the global global offshore materialize know, difficult you summary, in likely continue for region activity of to sustained expect challenges and and before second through decline that will on opportunities our the has mid-XXXX. to from before year. is drilling these nearing recognize times do expectations levels. pandemic a not We floater account stabilizing the pre-COVID-XX the recovery
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initial our the every the this our the through our day deployment valued and of continued assets, investment and the I by our believe adapt opportunity result we to and the efforts is and collective of including technologies caused development of specification each continuously disruptions meaningful organization. development Following across to COVID-XX, improve and direct in that innovate, investments Transocean, deliver have change in team our high innovative members. training seized
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Mexico. of the U.S. to concerns the drilling like potential regarding in address activity some of Gulf I’d Now,
time and on for drilling and as attention requirements leading paying and regulations changes reduce We by is taking executive to Biden contractor understand we believe this close activity the policies administration’s drilling to to been review regulatory climate this the administration emissions deepwater leasing impose could property the permitting that administration carbon hydrocarbon our to to by any Biden federal in regulatory federal the report adversely impact region, has more exploration of that the desire effort the current by is recent production part can impacted legislative I are orders. and around an around offshore not stringent or waters. industry. change. current lands As drilling We
other these may ultimately believe the placed our production one offshore to elsewhere believe Africa, growth; we carbon intensity long-term produced cap the of that customers Sea lead of barrel United being world, areas. in implications in have It is will West States actions of comes from North the the from Mexico However, among oil should it two that produce on prolific be of all such and significant had including of of the the and that regulations comes looking Mexico noted the first the Gulf oil more our to the is could deepwater produced oil production around macro U.S. Mexico of and hydrocarbons, vast from be the as, lowest on explore Gulf that oil stringent the the deepwater. environment; We customers Gulf economy XX% basins second production that approximately the U.S. Brazil, and important of will States. total as an United part XX%
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