Valaris Limited (NYSE:VAL) Q3 2023 Earnings Conference Call November 7, 2023 10:00 AM ET

Company Participants

Darin Gibbins - Vice President, Investor Relations & Treasurer

Anton Dibowitz - President & Chief Executive Officer

Matt Lyne - Senior Vice President, CCO

Chris Weber - Senior Vice President & Chief Financial Officer

Conference Call Participants

Eddie Kim - Barclays

Kurt Hallead - Benchmark

David Smith - Pickering Energy Partners

Operator

Good day, and welcome to the Valaris Third Quarter 2023 Results Conference Call. All participants will be in listen-only mode. [Operator Instructions]. Please note, this event is being recorded.

I would now like to turn the conference over to Darin Gibbins, Vice President of Investor Relations & Treasurer. Please go ahead.

Darin Gibbins

Welcome, everyone, to the Valaris third quarter 2023 conference call. With me today are President and CEO, Anton Dibowitz; Senior Vice President and CFO, Chris Weber; Senior Vice President and CCO, Matt Lyne and other members of our executive management team. We issued our press release, which is available on our website at 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 ARO Drilling presentation will be available on our website after the call.

Now, I’ll turn the call over to Anton Dibowitz, President and CEO.

Anton Dibowitz

Thanks, Darin, and good morning and afternoon to everyone. During today's call, I will start by providing an overview of our performance during the quarter and then provide some high-level commentary on the outlook for the offshore drilling market and our fleet strategy.

I'll then hand the call over to Matt to discuss the floater and jackup markets in more detail and to provide an overview of our contracting outlook for 2024. After that, Chris will discuss our financial results and guidance, including preliminary guidance for 2024. And finally, I'll wrap up the call with some closing comments.