Valaris Limited (NYSE:VAL) Q4 2023 Results Conference Call February 22, 2024 10:00 AM ET

Company Participants

Darin Gibbins - Vice President, Investor Relations & Treasurer

Anton Dibowitz - President and CEO

Matt Lyne - Senior Vice President, COO

Chris Weber - Chief Financial Officer

Conference Call Participants

David Smith - Pickering Energy Advisors

Eddie Kim - Barclays

Fredrik Stene - Clarksons Platou Securities

Greg Lewis - BTIG

Kurt Hallead - Benchmark

Operator

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

Today, we are experiencing national AT&T coverage Issues. [Operator Instructions]

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 fourth 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 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 begin with an overview of our performance during the quarter, then provide some high-level commentary on the outlook for the offshore drilling market and finish with an update on our capital return program.

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