Transocean (RIG) is a public company. Transocean is a leading international provider of offshore contract drilling services for oil and gas wells. The company specializes in technically demanding sectors of the global offshore drilling business, with a particular focus on ultra-deepwater and harsh environment drilling services and operates the highest specification floating offshore drilling fleet in the world.

Transocean owns or has partial ownership interests in and operates a fleet of 27 mobile offshore drilling units, consisting of 20 ultra-deepwater floaters and seven harsh environment floaters. It has 5,600 employees. Annual revenue is $4B.

Transcript

Operator

Welcome everyone joining today's Q2 2026 Transocean Earnings call. At this time, all participants are in a listen-only mode. Later, you will have the opportunity to ask questions during the question and answer session. To register to ask a question at any time, please press star one on your telephone keypad. Please note this call is being recorded, and we are standing by if you should need any assistance. It is now my pleasure to turn the meeting over to David Keddington, Vice President and Treasurer. Please go ahead.

David Keddington — VP and Treasurer

Thank you, Madison. Good morning, everyone. Welcome to Transocean's second quarter earnings call. Leading today's call will be Transocean's President and Chief Executive Officer, Keelan Adamson. Keelan will be joined by Chief Financial Officer, Thad Vega, and Chief Commercial Officer, Roddie Mackenzie. In addition to the comments that will be shared on today's call, we'd like to direct you to our earnings release, fleet status report, and associated 8-Ks filed yesterday that contain additional information, all of which is available on Transocean's website at www.deepwater.com. Following our prepared remarks, we will open the conference line for questions. Please limit your inquiries to one question and one follow-up to allow us to hear from more participants. I'd like to remind everyone that today's call will include forward-looking statements which are subject to risks and uncertainties that could cause actual results to differ materially. With that, I'll hand the call over to Transocean CEO, Keelan Adamson.

Keelan Adamson — President and CEO

Good morning, everyone. Thanks for joining us. This is what I will cover today. First, I'll summarize our operational