Valaris Ltd. (NYSE:VAL) Q2 2022 Earnings Conference Call August 2, 2022 10:00 AM ET

Company Participants

Tim Richardson - Director of Investor Relations

Anton Dibowitz - President & Chief Executive Officer

Darin Gibbins - Vice President of Investor Relations & Treasurer

Christopher Weber - Senior Vice President & Chief Financial Officer

Conference Call Participants

Greg Lewis - BTIG

Fredrik Stene - Clarksons Platou Securities

David Smith - Pickering Energy Partners

Operator

Good day and welcome to the Valaris Second Quarter 2022 Earnings Call. [Operator Instructions] Please note that this event is being recorded.

I would now like to turn the conference over to Tim Richardson, Director of Investor Relations. Please go ahead, sir.

Tim Richardson

Welcome, everyone, to the Valaris Second Quarter 2022 Conference Call. With me today are President and CEO, Anton Dibowitz; Interim CFO and Vice President, Investor Relations and Treasurer, Darin Gibbins and other members of our executive management team. We issued our press release which is available on our website of valaris.com.

Any comments we make today about expectations are forward-looking statements and are subject to risks and uncertainties. Many factors could cause actual results to differ materially from our expectations. Please refer to our press release and SEC filings on our website that define forward-looking statements and list risk factors and other events that could impact future results. Also, please note that the company undertakes no duty to update forward-looking statements. During this call, we will refer to GAAP and non-GAAP financial measures. Please see the press release on our website for additional information and required reconciliations. As a reminder, last week, we issued our most recent Fleet Status Report which provides details on contracts across our rig fleet. An updated investor presentation and our drilling presentation will be available on our website after the call.

Now, I’ll turn the call over to Anton Dibowitz, President and Chief Executive Officer.

Anton Dibowitz

Thanks, Tim and good morning and afternoon to everyone and thank you for your interest in Valaris. During today's call, I will start by providing an overview of our operational and financial performance during the quarter. I will then provide an update on the outlook for the offshore drilling market, highlight some of our recent contract awards and discuss our strategy for maximizing shareholder value during the unfolding industry up cycle. After that, I'll hand the call over to Darin to discuss our financial results and guidance.