Valaris Limited (NYSE:VAL) Q2 2024 Earnings Conference Call August 1, 2024 10:00 AM ET

Company Participants

Nick Georgas - VP, Treasurer and IR
Anton Dibowitz - President and CEO
Matt Lyne - SVP and CCO
Chris Weber - SVP and CFO

Conference Call Participants

Greg Lewis - BTIG
Eddie Kim - Barclays
Kurt Hallead - Benchmark
David Smith - Pickering Energy Partners

Operator

Good day, and welcome to the Valaris Second Quarter 2024 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 Nick Georgas, Vice President Treasurer and Investor Relations. Please go ahead.

Nick Georgas

Welcome, everyone, to the Valaris second quarter 2024 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.

Earlier this 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 Nick and good morning and afternoon to everyone. During today's call, I will begin with an overview of our performance during the quarter and provide an update on the offshore drilling market.

I will then hand the call over to Matt to discuss the floater and jackup markets in more detail and provide some additional color on recent contract awards as well as our contracting outlook. After that, Chris will discuss our financial results and guidance before I finish with some closing comments.

To begin, I want to highlight some key points about our business that we will cover in more detail during this call. First, in the second quarter, we built on a great start to 2024 and would like to congratulate the entire Valaris team on delivering another excellent quarter of safety, operating and financial performance.