And you, call. analysts and today's Lex. welcome in Thank to our investors employees, participating customers,
picking continued $XXX XXXX, best-in-class the for many year, release for of of adjusted essentially off to have Transocean in on the we XX%. quarter, margin earnings resulting in customers million XXXX. adjusted left operations the Despite challenges in yesterday's where first in delivered in deliver past our reported million over EBITDA As we up $XXX revenue, over EBITDA an adjusted
safety over This from global our delivered continued the call, XXXX, performance uptime in As into history. Transocean's best across overall you as delivered first we the annual XX% of our and both operational performance quarter employees may we deliver remember last stress how in to operational the performance. proud company these enough history of team, I our uptime of quarters results. strongest the by one am I amazing achieving in cannot exhibited dedication
For Transocean for and devotion our deliver that, team to best-in-class every I'd our entire customers. each to service thank to say at you their day
to announce in pressure am in fixture XXXX day. managed compelling campaign. Deepwater over awarded I a at Asgard includes the of successful fixture as wells Turning market priced warm-stack and Offshore a This provides a reactivate the most $XX well with the a in at a to Gulf June fleet, the recent of pleased now Energy, $XXX,XXX us starting October evidence opportunity should two conditions, this adds in commence a the Mexico. requires priced three-well improving continue with expected Beacon to which following And drilling includes was through $XXX,XXX Mexico. and The to one well, option. campaign asset is of award million third a backlog Gulf and day with
in not the services. we our the to both the to command and Gulf want based to premium earning the fixture need our shareholders, market clearly we Mexico still industry-leading assets dayrates ability are appropriate provide tightening or While Transocean's of upon and this demonstrates rates returns
U.S. is and of technically in the may assets well-respected Mexico. one Asgard know, you most the As the advanced of Gulf
is And what follow a As we're starting currently is our Mexico, opportunities market It's in that belief get of take Gulf multiple back to actively contract such, offshore excited to Asgard. at reinforcing recovery bidding the shape. we're on on the her the in dayrate. leading
her bidding next down current directly could the The to Including Moving her the in DDX opportunities with remain to after with Petrobras operational June. to are of set demonstrate continues because and in her her in And our contract BHP around further September. to world. on Petrobras Continuing the fixture through completing scheduled BHP Trinidad into Trinidad. stellar excellence conclude contract DDX is journey options, to September. Brazil, Shell, versatility, multiple we it's XXXXX with her contract with and South reputation start
This fourth discussions multiple in rig scheduled the As the over The and extension. robust well quarter Norge and Norway, through to run Independent. Petrobras a state-of-the-art Again, commence about awarded beyond. the June to and just we're Norge Norwegian actively Jumping the the on which bid expected with day remain next such, middle is and NOCs a long-term now Norwegian to plus per Barents another at interest to and rig campaign being contract of both Equinor market. resilience opportunities operational MOL strong reputation developed her by week, Transocean possibly is markets Norway. outlook. bonus. encouraged from in is to possible we one Transocean has in by extension remain Also continued draw into with customer future expected was to The $XXX,XXX is
West to Turning now Africa.
noted call we operational Skyros awarded quarter's As Deepwater its on Year, Total's The the of superior to Rig last was performance. thanks
is that confirmation differentiator. our performance a additional key As
in We expected finally for to at possible rig. our than last the of with the option more middle looking discussions a year And six-well are a customer Asia-Pacific the for about region.
contract her rig campaign began Nautilus the through Deepwater the week keep with active This XX-day will last July. Just POSCO.
region. bidding into actively the in multiple opportunities Asia-Pacific Nautilus the We following are
oil Looking as relative stability encouraged remain barrel February. prices, by early $XX forward, in we the persistently per are since they above
in many the global importantly, are previously higher. to our global distributed continue As market months. demand activity likely and year we improving and push closer or expected several this resulted in projects, is later hydrocarbons Their XXXX, this global starting late with world, to delayed to the market in subscribe we a decline, commence customers for next with Mexico, the to early Taking for view. starting which vaccines Gulf competence awards are planning new of expected accelerated oil expect several look will around of oil believe the are in And U.S. projects has environment, that as fundamentals this inventories prices also recover. increase even COVID-XX Most around the to expected year.
as clearly operating of active supports all we of expected, year. the contemplated direct in projects meaningful with a forward more tenders, will inflection the of something and even in that entire Gulf note move if Mexico. fleet This not industry believe engaging this to responding that current are hasn't rigs the later more these also from dayrates It's XXXX, particularly far Gulf is since to Importantly, out negotiations, customers in be important only we that of are levels. sold Mexico we
are proposal quite two of rigs. projects our indications contracts request for fact, will requesting in on highest Independent In more and time. And in not region, assets be for multiyear there are recently one some spec a forward. available this IOC information a other has submitted with seen there both IOCs an moving for that urgency
generate of opportunities. maintaining something projects their that focus customers customers deliver. facing while This returns, Shell and level cash discipline, operators paid the Mexico conditions. has are to mobilizations seeing of flow our rig the onshore shale another been from entertaining pressure activity of fact, acceptable in increasingly specific In indicates are Upgrades, offshore and improving able many the redirecting point The -- spending data market our not is reimbursement result belief are to corresponds important economic U.S. to project of we're to that increased includes that that Gulf of
will which on with pandemic maiden any and Marine's other expected to of barrel That on build optimistic Deepwater from according from States. shale Beacon the and has the the the said, the oil result chain Offshore believe Titan to carbon supply Shipyard, Deepwater expected disruptions commit to are Sembcorp customers. related their respectively. of Atlas are carbon by order also as that drilling our Remaining projects Chevron, in the intensity oil to Mexico, Energy offshore additional shipyard the global United delay into Jurong as NOIA, influenced spend, Gulf in in shift U.S. affecting are decisions commencement of We We rigs, provide be of deliveries the timing from on, details the we delays oil that both Mexico in sands fact in emissions for remain drillships, the Deepwater CapEx playing also to maiden rig's the well focus each from Gulf which our for our believe new investment of and the could Mark campaign. of the thus a about lowest one
in you might detail with broad discussions As has the parties, discussions a at work provide Sembcorp of engaged impact, potential fairly additional delay range in are we expect, any all we unable to with actively and are ongoing a outcomes. time. this Since with are we
launched several activity if adding many, Campos the tell incremental rigs rise all Chevron, over the not in also couple rig Sembcorp continues the multiyear Petrobras' Brazil. I that to expect the for for Petrobras tenders next several forecasted remain of years. recently They basin However, In Based steadily tendering Brazil available Brazil, constructive. and absorb we to from IOC, you in should and and can with projects. Santos of the the contracts, count demand conversations long-term fixtures Beacon award the additional that on
favorable of gas enactment the forward high and return IOC optimistic We the are market anticipate signal sanctioned voting appear products that welcome wells several for as about In balance, dayrates seen much this tax already not the of are for on exploration next brought we a years. excited strong in will opportunities activity incentives. for the well Brazil and beyond for our continue the favorable incentives are opportunities now projects fleet and as fields by pre-salt XXXX With the in result in remain to in oil during more assets. also levels handful our to beginning capitalize years. unfolding contracted, to will are Norwegian two continued utilization the investment a a on government's We radar, of to the of of Norway, successful
now Looking at U.K. the
the witnessing years of would to of assets command the five the in available number lack environment could opportunities and some opportunities new of are in which are stronger start market, emerged to could And over within ourselves given dayrates. the of warm a that an this over next to work that hot this happens, the cold cost next from in We work prohibitive a increasingly this assets over are could find tenders the year. in market market Norway of rig add a due to anticipated responding rigs rig, perform attracted stack past couple Current If months. months. of being actively XX we surge reactivating
Turning West Africa. to
are consider becoming programs customers region. this Our more in willing to
for In opportunities and short we're term multiple emerge long both seeing work. fact,
would rig half believe years Additionally, a both Exxon of Angola awaiting we opportunities. In includes next. are multiyear Australia, term that beginning Asia-Pacific and well-placed these awards we opportunities add of three XXXX. capitalize in a are over medium year this to programs and more the work region, of We and in Total for eagerly in on several short of or the one starting and we into see which half second carrying minimum
encouraged of are has the generated. We by opportunities this volume region continued
not Deepwater is of levels. in recovery In and for that keep industry opportunities the macro fact, busy pre-pandemic the world. take work consolidation. additional in the direct certain emerging this last with and opportunities by quarter's rig conversations recent volume now This continued, of improving believe We're current we of to offshore trend continuation I'd morning, in of a also XXXX Asia into half to In stages the customers strengthened that contract, ongoing back the the we for very On Nautilus will and now encouraged we call, moment like summary, early environment parts the noted for into a drilling. secured its has sustained Southeast discuss our but XXXX. further to in second we with only the XXXX. in the of
retirement as dayrates more to The as will see supply the and recovery our a now know, assets. offshore it a from first we We drilling, could retirements consolidation, balanced increase have demand practices is the are more continue starting needed but We of behavior, market. we drive much welcome market the Transocean more the recently more in and between these If of contracting actions announced to simultaneously including, Noble further and set which in increasing limited expect discipline we into structure, could, rigs we beyond. marketable to major As for you and emerged strong for decreasing. see out should Pacific think not with may peers lead and move will plays to way consolidation, Drilling. in for rigs floating XXXX recently certainly and transaction many with we industry the improved restructuring of to currently turn and expected, the significantly as it believe accelerating stage being rig
specification fleet sufficient recovery, ultimately when to positioned well floaters delever of with opportunities the sheet the on to generate balance high providing Our to exceptionally is capitalize the opportunities flow arise. us meaningfully cash
the training We providing our that we are valued with remain increasingly by of quality crews largest us challenges. the the there always with are our strategically invest we in need industry, fleet maintain maintenance market operational experienced billion the in pragmatic team. fleet floating and specifications most and the uploading recognizing largest planning, approximately and encouraged highest prudent backlog, In has shore-based with will comfort be future the industry's continue to financial $X.X to in assets. employees visibility the unforeseen While contract the assembled flows cash and backlog, the to take we highest going of that conclusion, and our our support Transocean dynamics in and certainly to
As best Indeed our oncoming such, high-quality is seeing emerge full-scale and generating year. inventories from beginning belief this to deplete, oil our challenges market a overcome as replenish to we recovery continue flow and customers reserves to are benefit We're positioned projects offshore. to the deepwater that now cash market through confirm data the points need the later seeing recovery.
to further And to to harsh position strategically performance, best-in-class fleet shareholders. to in enhance say, are proud we'll to position position. we our for continue are as as to further as continuing industry-leader. our points, We and ultra-deepwater market the environment to operating Mark? always, various value Needless drilling, our ourselves our creating to industry-leader while refine enhance in deliver data continue by we'll encouraged committed execute remain strategic and the we priorities our