you on Good market before on joining we recent to Richard Welcome, turning After prepared and forward and financials. call our the thank some opening today. for with remarks, and look and everyone, call strategy us on taking remarks provide then over to milestones the I'll begin questions. macro morning. comments the some the your outlook review the to
of of over voice the priorities. imperative first strategic centrally downturn, third focused committed past of return With for dividend establishing announced contractor investment and the recent peer We dividend initiation flow platform. this milestones. first industry, existential and return are a orderly proud the industry-leading and the the drilling a our priorities these on brands Coming since is strategy XXXX. absolute Strict our are in to and years cash to a of X investor this, starting quarter. generation discipline on $X.XX out have free group consolidation, and dividend cash capital regular First, Noble the here program in capital we customers introduce an our program, as with cementing been thesis to with
free drilling of to step conditions return the of just are we for cash year-to-date generated highly to sheet. next last Recall, rails the made well. anticipate and Elite the significant dividends and repurchases long-term associated stages off XXXX in flow next albeit in equity out dividend the strategy early super constructive addition for that share a one cash drilling XXXX multiyear side time including $XX upcycle, the frothy much not cash yield prominently combination. sustainable as up share of squeeze sector, This flow cycle level $XX This for Noble the the presents total believe plan the Maxim. rates million in of last the late what And year, to We share that setup during with throughout we that with conspicuously balance of cycle sounder quarterly offshore shareholders structurally the Mars the supply million, a initial via for of without the free we the featuring in logical day the era. asset majority but represents closing time approximately to drove with as stocks over repurchases We return repurchases. that including our
and adjusted continues overall million the cash second result. And financial Richard while flow a these solid was instruments $XXX but conservative will look EBITDA sheet to generation higher our to speak to as both outlook, we balance quarter scale way. of a along results grow, preserving will the of more
for world fantastic important milestones, our to around of free to also safe the the done and category second job million and the a efficient cash over of we So congratulations thanks pleased course, And laser-focused huge quarter. in operations. and flow in and of well were crews on staying teams generate shore-based $XXX
had the noteworthy commercial to early $XXX the the the valued the the BM-S-XX is confirmed X.X-year fields. at we've recently year contract nearly This The Petrobras. XP awards for front, market. commence backlog strength continuing and ultra-deepwater contract was with next that Paco several On at addition million for largest in expected contract
was with secured participation in in several And Brazil much excited unfold be We've duration. from an to direct expected year. anticipated well additional shell extends to on also and years floater the continuation pictures Noble we're incredibly of recently additional fleet is growth Voyager shorter-term activity end backlog Colombia so this which in current the our Mauritania, in contract the in renewing Petrobras Voyager's in exploration the awarded Shell to of program an the through ahead. for follow
commence to certain weeks Next, next total including a days. of in Discoverer few services. contract contract million, duration the additional an estimated within of Noble This has Petronas with a and expected with Momo value received XX $XX the Suriname, approximately X-well
Noble from Viking from X-month extension XXXX contract and to at has to expected XXX value wells received And with duration $XX approximately the X Deliver July in contract PTTEP, option Noble of April rig INPEX total that days. million, total $XXX,XXX XXXX per an of Australia, Next, had exercised a Shell day. most recently, extend estimated by the
the that Harbor be program for the side, for a the accommodation a the of contract drilling customer announced back that end in year. XX-month This quarter with accommodation start front this Energy a scope Intrepid either also Sea piece. Noble in of or has could the exercised a at North option X-month the On fourth jackup scheduled to has U.K. contract is newly
up of these, With backlog our has to as billion $X billion, current expanded last quarter. from $X.X
summarized a can of X schedule presentation. on of You the slide our backlog Page find
our and at cadence dwindling a trajectory momentum, short, sideline Limited procurement continue tendering and measured upward spend consistently utilization. playing expectations. it the UDW continued the with capacity macro in and deepwater outlook. rigs the far, as term contract with thus I times. expanding contracting with minutes are on tight reactivations remains industry lead dynamics high for Contracting Now out market few demonstrates In a and
worldwide contracted rigs the rigs saline term of XX% total contract a recent market and pent-up XX half lengthening. first out uptrend floater years is of over level rate. Petrobras' of in increase additions of contracts been average marketed was utilization the long-term by Guyana, demand floater prevailing Notably, fixtures contracted of the Noble as terms This other X as related first XX to XXXX. rig clear demand pause Average in volumes has a the for demand. The with XXXX, fixtures backlogs months, duration XXXX. a growth months in Other tight supply. over of UDW in up in half of XX the balance driven the the offshore term past well in including confirm XX% this from is CEA the half driller XX also term expanding floater contracted approximately backlog all to which the statistics, X-month excluding year average expanded the first Even course
relative for current as a bidding XX clear With well see XXXX to leading pipeline, demand toward levels. rigs to continue through indicators global incremental to path specific we XX UDW our as these
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X rigs, totaled X X demand for Additional including rigs and Petrobras open Columbia. from domestic
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supply be flat to U.S. deepwater floater the Mexico, is the of utilization expected Gulf getting demand additionally, up the Mexican And Gulf and XX% is is rigs, slightly. is is of XX increasingly In to Forward demand The of active. Mexico side XX%.
capacity. spare in X the only next Americas, year. continuing While with Gulf of XXXX Globetrotter be Mexico expected Basin today, open is several I that X with X exploration tightness in to at UDW given to is the a through currently lack midterm in the floater should constant to of play onwards. to Mexico the continues XXXX with the duration is there rig is demand Mexico, programs activity XXXX. Increased upside likely line at to rigs Petrobras potential various active commences short currently of consistency the operators for occupy expected from support out rigs in Noble the reemerging And Columbia remain increasing X Guyana-Suriname Colombia to Mounding
and well the a this to year. Columbia Ecopetrol presently, is for in drill Shell a drilling well Voyager for Noble Noble the Discoverer have We later scheduled
contracts tenders demand that in several In We X X by led dates currently there in floaters, and of of more long-term rigs with few for the XXXX this is actually start XXXX intended There with or deficit XX so XX preparing by total in Nigeria. is underlying on see between includes regional in increasing XXXX. are marketed utilization tenders XX although units for X contracted supply anticipated XXX% early West rigs future the market. terms a amount demand Namibia the of Brazil, evidenced Africa, are incremental actually years Angola, outstanding to to the
Triangle demand contracted. plus XX So count versus and of Americas rigs floater collectively, the baseline with EDW current Africa has XX% already incremental forward XX Golden been of to current what the comprises West the of
step these summarize Our is state Sea for concentrated supported as in said, well working Asia market, a Petrobras the with also region are in XX current UDW of significant across pipeline that XX fleet That the opportunities the of XX is next in rigs additional well XX bidding Golden that of the in we're of regions. by Black representing units demand awards programs play progression. Pac the near-term the overall to evaluating. the expected there primarily Triangle as with our To group tender floater growth the
be remain There capacity and high-spec contracted, sideline a to drillship Meltem. drillships our including dozen yet approximately
of in few average has rigs rigs a coming been win for awards and to Africa. Brazil below commonplace to expect rates. by absorbed out day We West contract near-term of work be the reactivation And sideline it at
continue to the dynamic diminishing of pool this expect capacity. We with sideline
Therefore, bidding we rig do leading although these rigs. eclipsed fixtures, continued might persistent With mix However, contract day would believe aligns. $XXX estimates could opportunity by fully we soon. span recent fall as continue a depending these specific Domino's a rate cost inflation, there approximately on that threshold the power estimate and to high-quality when upside rates pricing evidenced at to maintained requirements for their year entail discipline will that see opportunity contract a for and to Meltem stacked right the $XXX,XXX hot least patient drillship Noble's million currently expect cold require. -- clear win in a as this we Meltem, reactivate, We our be the with remains premium to fairly that day
demand have half its the business as jackups. currently for and have is we our finish necessarily This year first outside idle the jackup by mid-XXXX recent Regina Netherlands and And there we Now to on North becomes with supported work the the its a which next to when now demand contract call this over the contract Obviously, Allen tangible and constructive food, year visibility this upon North X thus for isn't lagging of first available. in is on rig well scheduled the sufficient the of and been our trough system an the outlook early been X start-ups of far quarters. in be expected Sea due year next has repairs. of inflection Norway. utilization work Prosser for leg to pending this the a improvement part fleet year in although The that assertive softness to Sea contract has believe expected is and by good to tracking visibility shipyard the to throughout Regina next Intrepid, as Tom the both redeployed Allen of completion half for the
market. the could We're Norway segment necessarily impacted. would longer-dated come since harsh great our and Norwegian the the attention, from jackups interest Beyond the following the these upside dynamics obviously discrete competition zone shelf catalyst improvements, within need for with the of floater Norway to be tightening
There's and to has great energy and demand. technology opening sustainability choppy base of that's the Maersk our value where Northern opportunities general nothing transition for could a Noble believe headwinds That's a XXXX XXXX. It areas well change, today. new that market the and jack-ups heightened not brings offshore but CCS market. prescription. as combined on also for report for Enterprise also created collaborative friction muddle-through opportunities worth emphasis to policy It's until we new highlighting is case are today, for Europe's It's or certainly be market to our late still CJXX assessment all in as adoption. as subject These permanent the drilling Drilling
our plan offshore Greensand to by build first continue injection floater. in advance significant Norway in resolved also we the at following utilizing carried selling critical deployment market points we Noble and injection with And jackup software the the the through early ability a emissions the our intend in on a emissions one zone the customers' And leadership out to decarbonization technologies. proprietary of earlier strategy by carbon this marketing is certainly, other position to for to monitoring year. Project the competition goals For a of place pilot emission-reducing our jackup example, displace amount of of our
and over on Richard pause and the to wraps over fundamentals, I'd to that now call go up So the financials. the to turn the like overview market
