Good Phil. you, thanks morning, Thank for joining us. everyone, and
market call results, in through call the and our I'll today, then for brief a quarter second highlights. the Brian update overview our results our quarter on open financial will second quarter of we the questions. the take On you review more you give of before detail view
the quarter, booked $XXX We the per million. In was financial quarter in flow Adjusted billion Free quarter quarter, in was orders. $X previously. cash quarter share delivered $X.XX Earnings in negative adjusted in we and income the was what for $X.XX. is well executed importantly, were EPS our unchanged XXXX outlook million. We revenue. the communicated second for operating in $XXX and from $X.X billion the second we
macro environment. remained the take few LNG our with a on moments Beginning me let the cycle share Now outlook markets, to longer strong. for the view
reach has outlined report I'm end industry is for a to fourth has the that XXXX. of the We thus projects one to of have the selected of reach that quarter pleased reached our approximately XXXX, new FID capacity track we of and technology each by MTPA FID successful XXX the been far. MTPA XX the seen on since
beyond of this for cycle, be MTPA. is this to We When BHGE. I a remain we and continued demand out By FID XXXX, growth multiyear positive number for look year. to LNG I a move see set XXX other towards that positioned immediate approximately projects well opportunity expect expected investment
that million tons. you. for in end MTPA, need from by subsea significant of XXX nameplate me To continue MTPA million activity capacity. through Let expect XXXX, In today's order with around XXXX. XXX even produce the context Therefore, trees the represent This XXX approximately tons the of industry approximately operate FID multiyear installed of to growth put XXX to market, XXXX. XXX capacity will we we into see
trees XXXX, Our going basic The activity into for flat space still was subsea competitive. below year, the versus capacity. levels roughly expectations well remains and industry with
up in we were As revenues half in our Oilfield the orders of expecting Equipment. Flexible I'm XXXX discussed the very good to for lows of that business versus XXXX. are XXXX, a activity Pipe first previously, for order in improve sign pleased significantly XXXX
and the the the shorter-cycle our outlook which This seen where area of continued not driven key activity North Middle expected. For positive a markets Sea, as East, we most BHGE. momentum likely is we Internationally, a has have changed significantly. oilfield by outlook, have markets, for remains services
We and Asia-Pacific other Africa, as also positive America. such see across markets, Latin Sub-Saharan signs
on excess activity, are by Services is we seeing momentum Oilfield capacity absorbed As increasing positive pricing. international
see today. I benefits what some pricing I of in contracting the market the am Given before see by will flow dynamics, take encouraged it we but increases time through,
We are North land in CapEx share that expect down market as coming and specifically we XXXX. view grow U.S. months America, very the U.S. slows. remain the operators even over CapEx to North hard to In nine will and even across transactional North to predict American America the six production years, out. be
pumping. pressure on that of be the completion side, around majority specifically The will
to product can framework drive ourselves is in year expect We where lines, and lift. the that as we returns chemicals such the focus in our growth on increase our differentiate artificial macro in drive in mind, to current U.S. portfolio. With across right production the
over and one years of formed remain grow OFS, ago, priorities two the BHGE was share were outset, revenues than From clear the our unchanged. Since our regain internationally. to just especially market faster in we and priorities
initial returns In kind right drive was reinvigorating have in in Our force success. the to we winning and commercial business. focus contracts better the our prioritizing sales of parallel, been
is organization execution Now, with our our for high-quality place, processes on in commercial customers. even focused the more
how and the important execution are changes these and creating been step drilling phase. customers, Equinor. last efficiency ADNOC couple A We of have of year we examples wins our highlighted we in for into our transitioning
ADNOC's Our Drilling double to conventional with development our us ADNOC strategic at presence program. opportunity gives partnership the
the We significantly is development, also ramp a which position unique expected for have coming years. the in unconventional to
We the began performance in operational strong. that our has January to very and to operating report am under new partnership I pleased been date
over feet XXX,XXX We efficiency. XX% have to drilled mobilize and drilling with four now helped rigs
Drilling of wells, XX first time. On ADNOC drilling saved eight has than the days more
well Our early the Drilling, well, and stages is level on extremely both the strategic equity at are the with at and encouraging. level. with Together driving partnership field we performance IC of ADNOC the partnership level works in highest Board, collaboration as stake the of the very integration. the as The
to and employees look on forward We path efficiency. this assets driving smart ADNOC strategy. has continuing productivity to work BHGE supports Drilling transferred to and have put XXXX Drilling We with growth closely ADNOC's the higher to partnership and ADNOC to
contract. closely well Norwegian delivered working the new with Shelf, months the have are results On Equinor and outstanding in we integrated six first the Continental services of
at the already XXX,XXX recall, both integrated the with existing XXXX, fully our a you two driver is for than half best-in-class of first units key value that the addition drilling drilled integrated we economic customer core in and and behind were a and the project feet In BHGE. more eight performance. to As of have this drilling
we well both fronts. and objectives towards drilling are overall perfect time this Our projects non-productive days far helping on on meet reducing success a Equinor on progressing thus and sense us their time,
BHGE remote process This service is improves oilfield enables of to is Equinor's a Equinor performance and IO-free the core provider automation to process the it model. demand execute on aggregation operations work. well to first strategy more future and as move to also for automated
Fundamentally us transform work. the this requires way we to
competencies and rig new We enable safe of software offshore, to the are and onshore developing from site. the roles effective removal work
the across In of the we transition roll out in successfully quarter, integrated second XXXX. the to fleet executed on to IO-free remainder the we'll this rig rig continue and the first
proud are to on this deliver for to be first important We Equinor the initiative.
Linge been date, a As strong have we awarded Gudrun fields. on scope of result to the performance additional and our Martin
BHGE I'm early, executing. pleased how our team While is on very still it's
beginning a from Oilfield have journey. the our better said business We running Services that would be
more side The first focused this now steps commercial on on been executing customers. our our for organization successful is and have
awarded These share In in let win were Now Norway, specific we for long Norway. by highlights key me long-term the In record Services, Equinor of downhole second of the internationally quarter some sand control performance markets. track of review. monitoring our contracts our contract continue screens, to we two Oilfield across completions strong and wins expanding are integrated in our result awards. on portfolio
our since offshore time offshore ADNOC's This has well in contract islands monitoring UAE, been and de-selecting have competitor. first the to program been ADNOC's XXXX. XX is began drilling completions upper project, BHGE in wells and for long-term the the supply extended scope we reach a awarded In awarded
wells the customer for secured completions after to The years. we for awarded integrated an Malaysia, our well services BHGE, contract displacing incumbent contract XX first in XX time. deploy sand control the country a In technology same lower GeoFORM the
for sole-provider the drilling contract Mexico. a awarded BHGE multiyear Mexico, wins we We with offering the for globally. awarded of strength offshore In and services of our have ENI relationships in customers also were lift by offshore. market deep contract Both this Petronas these artificial in demonstrate a
our for position production Moving multiyear is artificial uncertain to the driving market solidifying Marathon BHGE In growth our in level basin. amid Bakken, lift solutions, a awarded North conditions. the America, portfolio leading contract
Our performance critical track contract in record securing award. this was
Canada, contract large In chemicals. extended we for production our
their helped result This years, has Over oil tremendous in XX% is we it costs produced have per extending while barrel XXX%. relationship. by our grown critical XX and factor a long-term customers production a reduce our chemicals last was their the of
develop line and advantage. SureCONNECT clear competitive team In innovation parallel, DuraMax. and we Navi-Drill our where OFS are and continues sight differentiation have to technology examples Two of drive to
we optic technology, deployed fiber the With first can achieve the operators SureCONNECT quarter, for with In time distributed this Sea. North monitoring BP real-time the entire now well. in the of
technology motors and the quarter, the our in improve Rockies. we generation well customers high-performing the specifically, motor. construction helps Also and in our displacement launched productivity, latest positive Navi-Drill DuraMax drilling Permian of new This is
our remain Equipment, customers. Connect In focused continue Oilfield Subsea through expand delivering costs on our offerings and to for and technology, lowering project we
offering times OFE This I part XXXX Equipment. Pipe System and business quarter, component As component orders the In for earlier, and Subsea critical for the revenue Pipe a outlook important year-over-year. a our Flexible Connect. of sign is second up were of a Oilfield an positive of us over and core three very Flexible rebounded our is mentioned
as Saudi flexible projects post-sold for offshore and for various as quarter, orders second the Latin we in presold secured well In fields China. America Arabia important and
the a recently facility new signed to Aramco manufacture in non-metallic also an with venture kingdom We Saudi joint materials. create MOU to
Saudi and be non-metallic further development and of We on range a this closely wide will are pleased working with innovation customer to that very industries benefit important product support in Arabia. manufacturing
Montrose, in testing, open This were pleased Scotland. CoE manufacturing, very engineering, services will we of Excellence world-class our Center and our In June, for deliver customers. to subsea
our enables campus the The system, design vision. the servicing our and cornerstone design to of for of home Connect to product important innovation one Aptara Excellence The repurposing design Subsea delivery and of of us is milestone from subsea Center an BHGE the location from offer center customers dedicated TOTEX-lite globally. is the this to development of Aptara
and for we Ichthys Lastly, pleased together extension a provide LNG X field. solution to that week Phase McDermott, with this am contracts joint awarded were SPS announce SURF on OFE, to I the
and for This trees, distribution project Christmas is our award as well-positioned Subsea expect order as strong to partnership subsea model services. further second to a remain systems, life-of-field half impacts. We flexible economics see very equipment, of approach year business. will deliver and in of on intake well our example a We other Connect improved deliver number control projects our associated Subsea the
Turbomachinery acceleration the the activity quarter saw & market. the Process second LNG Solutions, of In in
Arctic of compressors, its Liquefaction for last year, second the Each X.X awarded trains gas X includes turbine, LNG. mentioned up As quarter, of were the in LNG December In train which the produce a MTPA previously we first BHGE's for generators. to the project. order selected supply and Novatek two Technology officially of will
Additionally, X.XX June, trains. two for X Through projects achieved In project past few the in achieve MTPA LNG ever engineering enhancements and the positive train, technology two the milestones. years, few Anadarko-led turbines. Mozambique the FID investments of with the we have compression highest per class Area moved significant over to this past months, important ahead are made for trains our output expected
for In had mid it secured its announced Pass Calcasieu July global MTPA commitments Venture of XX the financing LNG binding project. that
will mid-scale Venture cost We solution that high modular utilizes a efficient provide comprehensive development Global's liquefaction low supporting trains approach. process
one very LNG, for important a of XXXX. Antilia Outside our Pass equipment we contract book We of second in power-generation and full development segment. orders our to While to oilfield strong orders quarter, proceed on compression not the to were Mozambique customers we the Algeria. in the of did provide the quarter for an expect offshore the in field had and awarded area from we or receive half Calcasieu notice in second production
driven with local FPSO free the that helped for reliability a of and awarded win Algeria LMXXXX+ operations. supply, availability package, proven an produce strong We turbine important GX strategic the generator megawatts factors were track provide award. offshore to India. to will over power for The an together equipment also in order XX gas us BHGE turbines our of to our FPSO’s record gas of presence were our and
the the These have reliability applications. with important track offshore in proven gas footprint factor record we're a and optimized turbines FPSO to availability in and high reduced operations meet an requirements
an was strategically digital for In positioning solutions, quarter important our business. the software second digital milestone
in like we're why CXai know, very to As more a detail, I share strategic relationship. joint announced with about in bit you this June. late a would excited venture we
on safety. are While customers and lower the improved maintenance to approaches to time. non-productive costs our varying and there been gas digitizing oil our better always production, This has industry, reduce helping focus leads
for We solutions progress developed the years. number and over customers have recent great innovative made have of a
realized partner As path that we this edge our AI the offerings. a would with a our further We and relationship developing accelerate progress moved maintain of down digital our important great establishing space. in
perfect energy the as the the recently makes platform, venture which within that. joint by for CX sector IoT us. Our the just platforms enterprise becoming named with CX them is quickly leader IDC accomplishes in partner CX was AI standard Marketscape.
by is and and gas deliver businesses more intelligence their other oilfield suite Together, and on is industries. currently oil deliver for goal CX applications and is gas new we a scalable. will faster that CX, to The of collective number customers with artificial Our outcomes. existing collaborate to and specific leading use AI oil in easier technology in
teams deliver specific environments into customer to data of field that experts customer We are deploying meet and scientists needs. solutions oil
accelerate overall We with are industry. deliver With CX’s expertise. capabilities for extremely the and the the oil about integrating suite CX AI new of our in transformation unique gas ways along to the with our offerings, by and forward excited solutions, customers, will of looking that digital industry outcomes strong best and digital partnership possible the we working
delivered In a quarter. second we closing, solid
unchanged outlook we pipeline. are year and a encouraged international robust by project strengthening total is LNG and Our markets
Our priorities share, focused from generating cash margins multiple company and remain on gaining growth flow. strong We of benefit positioned drivers. to is improving our
that, me Brian. With let to call turn the over
