before weather and a $XXX Good and to discuss the cash with another full call to activity, to to end free of quarter to million, financials. solid passing QX punctuated cash commercial despite of forward I permitting sale and joining delivered for Globetrotter today. everyone, of contract remarks morning. the also to for taking our Intrepid remarks, adjusted delays for Richard the team and due million, proceeds, look adjusted the Welcome, the market EBITDA results fourth achieved and QX then quarter $XXX commentary were good and year later-than-expected our questions.
The These call the After prepared results us guidance I'll EBITDA full your outlook both we opening related on asset thank contribution excluding you the some free year. flow bringing on commencements begin with which the provide flow upper issues. range operational
saw associated we fleet.
The our execute level at our is performance now merger strong cost to behind high the across and world. our continue operations otherwise, the uptime for perform heavy So offshore in to around efficient drilling with very substantially safe us, and lifting teams a customers integration
last repurchased to declared to QX. a close total Our merger dividend with $XX first we first $XXX quarter and the XXXX consistent million. of of $X.XX XXXX Board shares million also QX since of the capital quarter, for the in shareholders XXXX, return quarter through brings This
majority to pillars of we recognize a substantial previously X As and the to continue of key for expect can shareholders of investors you stated, offshore return between to choice as forward and top our of free dividends the cash going flow the prioritize Noble ambition. first buybacks, which priority
several deepwater to rigs next handful side, over recent our XXXX awards fourth augmented been meaningfully a since contract the quarter, in have deepwater contract the that we to during of December downtick industry-wide pleased short-term have late announce backlog. number fixtures white near Our very outlook a several term. especially some for the on lingering years of notwithstanding business promising, continues the the Despite confronting space our look over
rates approvals where us say moment, we recent that customer As these all list disclosing pricing, do so. day are although these of current to represent here I'll in allow we only just consider I to a fixtures market
to survey. First, days. additional following for in includes commence Colombia the an with the Discoverer XXX in Noble XX-year XXXX contract rig's option a awarded was Petrobras a contract set This XXX-day priced QX that's
Suriname contract, this that plus Noble firm XX-day the was month an Voyager duration of Petronas with X-well a days, in a commenced option. XXX option earlier plus with awarded Next, X estimated well
option August with is booked June, into extending period firmly into the of now this So, Voyager the year.
Mexico, Next, January the LLOG This Noble rate Valiant next received from of pressure U.S. of extending Gulf excluding managed in remains year. fees into drilling. July the engagement that extension X-month a day additional from at the $XXX,XXX, use for
Mexico XX BP's MPD Noble estimated Noble X-well at components, which Last, extended Souza backlog an in the mobilization, BP Sea, contracts of both has duration the to XXXX continuation exercised in periods. November early option the floater of X-month XXXX. direct Next, March $XXX,XXX day drillships' Harbour May.
Then program a into backlog. planned million, with Resolute restructured ongoing out to the Gulf on the fixtures Noble day extension, in Noble these due in XX-day recent from been rig's if in de and program Collectively, Gerry the the a additional $XXX,XXX, exercised, intervention at an of into fleet, additional revenue value with the in extension in an subsequent This Innovator challenging received days Petrogas with the to have begin on of Innovator options excluding had TotalEnergies a job Nigeria, XXXX.
And Globetrotter continuing into option weather would side, commence received Intrepid priced QX received have the of a been the than rate the XXXX. Shell September recently of few conditions. contribute jackup existing started January at a fully firm commenced well North scheduled per weeks UK Also, by Energy scheduled $XXX,XXX. $XXX for within to smaller later finally, day, which, a rate extend
versus currently $X.X Our flat quarter. at last billion, stands essentially backlog total
by expectation backlog XX% go past a as under XXXX backlog don't XX the guidance Norway, in by firm typically have increased supported XX% Guyana over midpoint rigs replenish remaining frequently, other However, actually months.
Richard will minutes, long-term excluding X backlog is but preface, rigs the the a the in our few marketed and our which contracts into X operating we currently. across quick of EBITDA
additional delay critical planned, due can delays the from lead the rig's doing contract delivery for and channels, everything but running Mexico, on drillships major initially semi sixth-gen March Noble sheet, shipments. Petrobras global from that a program which status some with this timing Subsequently, XX slipped than marketed is our equipment work speaking, remaining reflected spot Noble mostly of than X primarily around both the the out for with although to been and longer Developer. driver space protracted estimated longer-term status have I'd work like prior revised is the These contract Noble's estimate the to July contract focused of current being the Gulf timeline the get exacerbated LLOG on complete by preceding short-term the this new we sits expected, about update in our original white floaters which work.
One mid-year. we're estimate preparation practically was the of times by the near-term and Brazil, call project The more the for XXXX shipyard planning fleet for units X the and opportunity spot X. are in to commencement longer fleet of to taking preparation Kozack's of for unfortunately now work. These the with SPS days impacted disruption set of in As shipping has Faye opportunities, a Kozack is Globetrotter Petrobras to
first this industry is demand the to of muted year. outlook, the for turning deepwater than this scheduled across comping the review market to which to this go this indicators CapEx supply like our growth the more a Now, half is of Offshore of an in Noble's XXXX and encouraging heavy rate the and upstream better while heavily growth fleet, is due Overall, markets. in low of expect offshore much And we weighted preparation second maintenance be I'd range, year. semi-annual to related to year, a half very continue mention is revenue our by broader global through again to topline expected double-digit would slate drilling picture. we percentage the see here steady mid I whereas more annual continued up outlook contract on be to that downtime to somewhat basis to
tree horizon. X international marketable bid 'XX for XXXX XX up are rigs leading to XXXX average license 'XX over current contracted rigs was XX% of representing rounds or with the all contracted green indicators XX Additionally, of subsea XX% Zooming effective the rigs demand fleet. average, in the and orders of visible the market, on demand other utilization various offshore to FIDs flashing from UDW immediately
million to times assets.
These or with have Following seventh-generation that X drillships $XXX XXXX high including minimum per XX cold-stacked capital million have shipyard are XX reactivation in and capacity, sideline lead still there reactivations drillship to rigs been $XXX spec viable X-year remain of since requirements sideline now to completed deploy. rig over underway,
be is Meltem, striking sharp over inflection last floater majority fully high to expect statistic at years This at wide today margin. continue year, demand compared pre-tenders of and represents We to expected the point, of end couple pulled drillship we of into most that including the exhausted.
Perhaps would observe service levels, UDW the be based these, demand on years which next capacity our a over up decade-high rig open for relate of open XXX also The figure tally current in to the demand. public a to and by floaters. tenders by is XX%
is means, would several that in within public longer-term case on not, describe. opportunity now rig than tenders drillship change direct These years booked months, duration prior by has also these the over board. which job XX% average via floater past than a tenders average. important is X-year of in rather open the aforementioned awards business.
I vast represents of since we a and the updated been fact, total our majority this the Noble's versus is XX and demand way open taking step measurable from complete Additionally, visibility demand year XX-year specifically of off that picture. the backlog of This the demand an by come have extensions mention public the job up XXX XX% stats open higher ago that any each have for years statistics In
in the X years, or out X of latent remaining XX growth again, rigs over rigs, we UDW more to supply. sideline see to Looking number next similar of the demand
contracts South with in XX dynamic has UDW a there the strength Brazil, Starting further certainly primarily. although than of do appear Africa capacity through increases perspective, Petrobras Noble, requirements for we've is with UDW scarcity and X-year fulcrum to XXXX the market we with course UDW the start the of a a months.
From in for a and between with America which where America, way, as result remains the are including some these more units X.X but between results opposed and course. generally remains situational pricing expect X similar alignment South availabilities contract to X but this in likely over demand seen be geographic that to continued opportunities demand rig inefficiencies contracted imperfect to sideline X of a demand continues of renewals floaters market the firm tenders for to be near-term. our incremental X against utilization of currently is absorbed activity constraints until there, over to combination at the units.
Guyana expiring rigs situation, under Overall, rigs, recent substantially core rigs on in currently and startup contracts to However, here dates, open XXXX. balanced drillships supply X along
of in expected ahead.
Suriname be years change X any represents additional with experienced Exploration in support in activity and any back shallow in will blocks quarter been of the in Noble contract. there's wells Essequibo demand throughout increased to expected has between rigs additional over for field over rig and [ deepwater round of conditions could with an months which demand and to do materialize incremental modest X back Discoverer's additional recently XX over up the the to Colombia the X XXXX.
Colombia soon, bid territorial And finalized anticipate additional startup years with the has commencement unit the background, to In Sabre for activity years. be not handful exploration multiyear an announced X Venezuela's of and that X successful vacillated XXXX, of and major X the first with a Noble both country's Suriname X similarly FID following supportive for Guyana of encouraging Voyager's X operators XXX-day could likely the region, rig have soon demand X 'XX contracts deepwater while ] development to be outside next recently and could recent past in next a deepwater the floaters in interruption from or to contracts we field potential challenge it with in operating has other Petronas. on see few the offers commence nor on We Guyana in disruption. up
Moving start marketed XXX% a demand in X X dates. regionally on of West late floaters, pre-tenders including in through Africa rig multiyear unique and with to particularly is X in representing years tenders Angola, current with XX strong West including region demand, with Africa. Utilization Namibia XXXX is Nigeria. targeted XXXX XX X rig and requirements visibility,
not in in All adds which multiyear board. to the off Overall, Africa to factor floaters demand believe that the we has XXXX.
In Gulf short-term expected Mexico, Mozambique, units of potential does XX total X just XX is U.S. represent XX XX again, net variability couple come additional rigs rollovers. between year. X the of the from could Mexico, is idle remain of rig with utilization. years, grow X job any to in this, at over XX-year with resulting This to including flat West Near-term next could demand demand the approximately deepwater recently of around currently has some the marketed and stands XX, rigs XX% contract XXXX past ranged over to and and of
is all of this We're of white are more particularly So optimistic the Gulf XX Mexico we work year seeing this to about opportunities for additional rigs. somewhat our among some space, few add of a where units.
to Mediterranean With likely in X to the showing strength although positive lower from up the floaters and and than experience up these in are utilization are half the throughout Developer Libya, from the activity, a wrapping range XXXX, XX Black XX the first Black of and expected activity drillships our continuing contracted of at the currently, to XX 'XX.
India leave and drillships utilization region floaters.
Outside has rest X to demand Triangle, soon contracts Egypt, of is Sea the this Globetrotter and the UDW expected XXXX XXX%. Sea between Golden throughout and are floaters with However, currently, regional region. are uptick X
support investment and the of in XXX% near-term, shedding bias However, appears activity number for XXXX, recently-announced of plan the revival a billion of units natural the couple likely demand, healthy India floater utilization, which to over and to suggest finally, despite medium $XX and years.
And government's the Asia-Pac not X then a rigs programs upward in a next its gas X-year potential resources Australia region the the develop long-term more aggressive short, has region. than of on to through horizon late a XXXX few
continue demand rates as supply it in well. the quite market top-end a contracts. of the market be last capacity between bifurcated rigs of the in the overall, reactivated sideline for the That's being and existing multiyear is But rigs sideline economically get duration are grinds So, and see tying a remain is together, higher won't we about pressure absolutely of is, high-end contract continued never deepwater this into as trend pricing optimistic Demand predictable. the market. that that overall, upward all and upward this will trajectory both to units be rates upward. linear, well day the as day factor should There constraint absorbed. growth governing several from established is versus But and
the Now, on jackups.
our back mix, Allen harsh especially Resilient this to once Although still the a on, mid-XXXX of for and improve, smaller our earnings is to percentage continues quietly jackups work. non-Norway from get picture the Regina
to X over resulting improvement developing has in these units and a story.
Demand couple utilization in steady of years the Sea the currently North and positive market over of been rigs North between has limited still visibility up Interceptor, day of stands rates a in up ago. from side, have Noble $XX,XXX XX, $XXX,XXX X time. at with this few and in day per day But past overall quite balances the ranged the $XXX,XXX North low a fact, and Highlander Sea the market have ago, to XX XX Noble jackups of the $XX,XXX the XXXX which improved in with both years as rates $XXX,XXX firming and non-Norway to range, X the years, as to ours, the are In the past demand day year idle $XXX,XXX day and Sea X idle at work from per a drilling XX%.
past normalized and year BP. We jackup with Greensand. although And backlog demand 'XX with Norway year. do Noble XXXX, healthy out for interesting The of just We at perform in Noble Norway for have envision redeploying XX towards our The additional begun constructive signing optionality been Project there's subdued [ X jackups. more rigs CJXX next looking demand well compared which visibility customer market not of historically into with is Ohio XXXX a Invincible demand it CCS this from continue involvement than to XX decent third in has in XXXX, up activity, extremely for additional Aker has remains dialogue ]. Integrator to rig rates before
So we the materialize. and ready that will we'll improvement be how right with see assets well-positioned when certainly the does team and demand but develops,
it that's for the So overview. market
like financials. to discuss to I'd the to turn Now Richard it
