customers, employees, participating Thank call. our and investors and analysts you, to welcome Alison, on today's
Transocean third approximately million As of an adjusted reported EBITDA in in in resulting quarter, of delivered revenue, adjusted $XXX XX%. yesterday's the for on adjusted release, EBITDA million $XXX earnings margin
our day to revenue bonus and rates by transition overall Our supported performance on of several was higher rigs. strong the
a truly effort. As usual, this was team
entire have an global shortages and and time quarter meet systemic grow, believe of this addressed that energy you demand the for over that a to the sincere is share for sustained lose focus year, from almost for best particular. concerns thank second The underscores that overall a that sources and shift, fossil diverse to have, energy facing to which in Transocean shareholder supply Ukraine energy mix, sources while customers possible to demand commitment and cycle the undoubtedly investment discovered best-in-class for mandates pipeline new will renewables gas energy oil to area energy our to a of are sources it's demand. the in time, term, long production. continue will ultimately day imperative In most mid- volume of the Europe developed service earnings prosperity. increase. to and led will Consequently, reserve become And hydrocarbons continue would A stocks, extend for economic carrying rates every the inflation international essential metric the sabotage On all call, I to shareholders. our of of ongoing following market oil rising to in swift Access in chain. energy Rush fuels. the gas like downturn such, reliable poor are of recent the underinvestment with coupled risk slowing effects supply gas, investor transition importance we security deliver shifted vicious further first in sentiment This toward years, Stream globally. and impracticality and oil to have and team affordable, X the Separately, global in this interest replacement, results our reliable As the to to returns and aggressive affects their of a energy gas of the from I chronic further Russia to Nord underinvestment ESG conflict. exposed
investment XXXX. This in that are additional to including leader the fact, a market necessarily our in important without offshore offshore drilling, In requiring significant role needed the ongoing to expertise. avoid in day development, having energy shortfall be the an Energy assets and as estimated we million in future. new of play the and Accordingly, foreseeable supply for XX exploration Rystad in basins recently accomplished per barrels cannot expansion
to fleet. turn the now Let's
our $X.X reflected the As the to XX quarter. status fleet status bringing services October since to our our July our release demand pleased backlog total $X.X we backlog I'm observed billion. by added in that heightened fleet we again new an fixtures in for in of the report, third share report, incremental billion
fixtures with drilling will in see our X I to numerous discuss we the detail increasing now negotiations separate our recovery customers. of offshore from a direct to regions, of of come provide more few a summary confirming minutes, steadily that tenders number recent I'll in in fixtures. global. is these as continue Importantly, market And the indeed a addition
Mexico, on in an day nearly products. a for favorable the First, per quarter rig call, for contracts recap received our with the deepwater the day per conquer firm day. important direct years backlog contract and now current per X very $XXX,XXX QX, call I'd a signed $XXX,XXX like $XX,XXX pressure the awards to a a X briefly Brazil, are through X-year on in our discussed and managed discussed per starting to additional of these the of on at drilling, the Also technology services The at major as previous second operator our our annually in contract Petrobras to of program contract backlog In earnings escalating with X XXXX. numbers. approximately $XXX we continuation off $XXX,XXX and day represents XX,XXX up market Gulf integrated rate million and reflected take
our will fee the the May October not As adds through an million additional dual-activity $XXX technology, current to remains the which contract of does XXXX the in valid directly estimated customers of backlog. for patented include and XXXX. term rate an anticipated of The reminder, our following use end a commence
program, awarded Murphy Now RIG rate gap the quarter. to a that its Deepwater day. commence at in $XXX,XXX option per of Mexico, moves Asgard to fixtures. the the to the fourth of and anticipated the contract remainder a per rate at In $XXX,XXX day a the to plus I'm pleased an been Oil say contract a operator next of with of struck a the has X-year our independent X-well X-well before closes option recent small Gulf
contribution The $XXX,XXX Semi, firm of day, all which $XXX,XXX term Equinor a the government investment follow-on With of current In rate of options rate options respectively. Energies Palbe Jr. day, and upon on through option day. X-well through will includes Lloyd of Transocean at current then backlog. day, full the rate in contracted expected to per exercised rate $XXX,XXX an firm the KGX QX commence September extending day June assuming per XXXX million contract at to PDO the potential addition a OMV to U.K., venture, excluding backlog per our per a this move Harsh Norway, X-well day. the a RIG of is the Spitsbergen day option of in with services. the to Palbe between India, XXXX, rig and will from our per a of the additional million these a was an the exercised, exercised which the rates $XXX,XXX Industries RIG option also In per In are market extends exercised the the based January X $XXX,XXX Environment XX-well contract work return But with option a XXXX. $XX and also per the we $XXX,XXX in day contract, the GAAP the the Total the I The per term of initial XXXX. on awarded end day day, complete expect, for of is at Lloyd in Driller joint In and XXXX. program If Harbor regional the be campaign. received $XXX,XXX a Suriname, Reliance through received day. and Nordia, with contract X commencement to the busy average contract Wintershall current $XXX,XXX Energy X-well bringing perform at resulting a X-well now to that September per Also Norway, $XXX,XXX The components at approvals, through final the of contracts, Development X-well DEA contract $XXX escalating leading is Equinor.
With the October addition of this through well, the XXXX. is now RIG contracted
recovery consecutive seeing the year, the expect global on and market we the to the increased with in the tender CapEx this several for offshore activity. continue for budgets a forward, The quarters. we're past Looking second majors have and drilling contracting pace consistent reflected offshore of
and trajectory years rates per comfortably jack-ups. to offshore XX increasingly are budgets day majors have XX.X deepwater nearly these contracted Importantly, for directed on deepwater. have day Year-to-date, the above Drillship RIG their mark. drillships continued when upward compared the years $XXX,XXX to moved
X with XXX%. is months. Active the per like months, increase an third of average effectively $XXX,XXX programs conquers As day, awarded increase an estimate Mexico be XX example, if commitment, quarter the day, $XXX,XXX at global look NPD. Taking XXX% the And look Deepwater closer per was the we utilization drillship XX saw we to just of in day. the rates a per of in excluding XXXX, next the environment. at quarter, Last fixture average the services was as in commencements market remain expected Gulf integrated $XXX,XXX to
Atlas increasing see agro are Deepwater Titan, industry's favor generation with the XX,XXX new say, of kick or then our development its to days off before drilling As multiyear for we of pleased campaign Atlas toward the week, we floating will installation direct the in commenced a BOP XXX Offshore Beacon first Needless The Beacon to Atlas programs. I'm closely X last perhaps stack. the this share Energy. our propensity for its to with second to direct with contract RIG. result XX,XXX excited of following of supply, campaign this our this perform psi negotiations eighth will another days an return the limited as psi Deepwater active with operations XXX extremely with X continue customers to The Also, that first Beacon drillships.
pleased Corcovado and America day, which $X for of day add period selected the backlog. and coming we to will with in among number a anticipated we per of work In activity in Latin the long-term we The are the rigs RIGs billion Next, Petrobras has respectively. country. comment our approximately tenders. signed contracts several pool and that Orion alone at could which weeks, work, Deepwater been per that to confirm Petrobras results much estimate passed, South Deepwater we be for at the anticipate day this public $XXX,XXX rates will time, $XXX,XXX are Petrobras The X from and to likely XX have the contract contracting open and come an Brazil, of tender outside would strong announced, additional of remains
be with limiting Additionally, to the BMS-XX expect RIGs projects end additional these the to RIGs of multiyear for the tenders global the pool in award quarter. the X prospect of will put necessary Buzios Petrobras' work, most, of the mobilized an outside and available is X we deliver anticipated expected year further by all awarded could These first development the if region. not be as from tightening RIGs to the market field the
with Equinor year requirements, will be we awarded. Total In extremely was announced contracts for supply, minimum months, In with strong dayrates awarded. next tender programs tendered tendering for with to time limited India, months expected expect Brazil, X work of local for a anticipated XX previously Shell, of anticipate frame. ultimately will retender XXXX, firm and few mid-XXXX. scheduled when in addition commencements are in that be ONGC respective the their XXXX, for the each each With The to not X term we requiring be RIGs, Energies new commitments in Petrobras to is
longer investment the the of It's in market. oil to beginning days the and are and days, third new incremental the in environment third programs contracted On North out will to the from to XXXX. RIGs Norway decline Ithaca, and days Sea highest Enquest. in U.K., applying sold demand we years, availability opening XX% the typical Atlantic X term, end the market energy policies Sea incremental This to harsh next to from of quarter in award where Equinor it's is the and were active Moving South X,XXX month for we gas. of added of the signature fees U.K. the up of Norway, supply environment Norway market, North U.K. even Basra the CLOA, security The shorter country, X see RIGs that the and including RIG the of provides drive likely improve of of In to not offshore Of we require expected been outside the a U.K. were longer-term the are the XXXX. in including including have RIGs nearly quarter, since commencing is as duration topic, reliability by that for on duration result contracted the the the are in Norway. the in market In pull out including more Final sector, could opportunities Australia. and in South or regions, harsh for than the for for XXXX, conditional a near is Barents recent strain In the in the outside and expected in event first seeing the PLOA opportunities year of cancellation year. week, earlier letter termination. of quarter this work the signed come in
for our of Consequently, to We tax country commence X we by expected specification requirements durations than competitors' harsh several in next in a is marine demand are in we AOC and Norga With X on number the to the the months Australia, program. to just recent available Norwegian in Woodside Based a the XX next work removing expect around XXXX. multiyear RIGs, extreme the to incentives Separately, market. several tendering and in Norwegian of environment Presently, remaining online. come moored Norway, sanctioned Current of customer this quickly. very highest awards requires projects in for from will requires there we Southern there under are those incremental Australia one to us the high-spec will the the believe with our to of enough the is for to rigs anticipate market RIG and X months. rigs assets diminish our Vasterain RIGs XX the few Norwegian in floaters supports be X Barents due increase to have not fulfill internal rigs available as analysis, leave conditions that its XX In DP Norway semis XX expect semi. year is country. compliance transition for greater expected opportunity programs elsewhere,
quarter, complete quarter it fully the of to fleet other up anticipate We second Transocean technology rotator in activities. and forward to stopper deploy in them on our we tool We've further As exposure continue lifting value the the and our in deepwater customers. look our future, we crane to installed free assets blowout the customers also assets personnel prepare add and with for first across units of our reduces equipment XXXX. we our fleet fleet. installing to for the and on to invest the other This one agreed being in technologies utilizing operational to the and anti-sway to Last that with first Galasso. kinetic our our hazards operations associated and moving of
and milliseconds. reminder, any the piromechanical is wellbore device in KBOSS a share object a designed to that in seal is As
significantly nonshareable this risk across Importantly, technology of the BOP. the reduces
been remain analyze accordingly, update statistics initiatives, savings. for reduction a depending demand fuel X with in an tracking X strong, implemented rigs. implementation optimistic agreements for costs. and our rate additional from high-specification has additive the additive reduced it fleet our now services on be adopted lowering Increased our will can summary, these flows loads. years. day recent In will assets our we thereby on are of our As to in higher be our installations cash complete, When of emissions the additives optimizes operational to this we've emission and and our At and reductions by consumption outlook upon utilizing sheet. time, the is on to additive Field most over contracted continue contracts us to better The fuel balance fleet. floating engine enable real-world fuel reducing suggest address consumption, X% utilizing we're the XX% tests rigs our for our
from actually positioning company transition the runway we the focus deleveraging extending our As our to for future. liquidity and
extremely of fleet. anticipate will we high-specification remains limited, supply stacked floaters opportunities our there begin be As more cold reactivating to the
cold to will each always, the on a into value shareholders. opportunities back As RIGs examine our market to basis each potential reactivation all the stacked we creates continue assess and for prudently to ensure thoroughly place case-by-case company our and that
Finally, we echo services oilfield have view the a up multiyear definitely that sentiment broader reaffirm heard entered cycle. across and our we
efficient call now of I'll the reliable drilling continue the upon leading and ultra-deepwater the delivering will we turn harsh always, and which As Mark. have on we over safe, services. provider environment to built focus reputation high-specification, our operations to as
