SHLLF - Shelf Drilling Ltd. (SHLLF) Q1 2024 Earnings Call Transcript

2024-05-16 13:45:02 ET

Shelf Drilling, Ltd. (SHLLF)

Q1 2024 Results Conference Call

May 16, 2024 10:00 AM ET

Company Participants

David Mullen - Chief Executive Officer

Greg O’Brien - Chief Financial Officer

Conference Call Participants

Fredrik Stene - Clarksons Securities

Alexandra Symeonidi - William Blair

Karl Blunden - Goldman Sachs

Martin Karlsen - DNB

Gregg Brody - Bank of America

Presentation

Operator

Good day and thank you standing by. Welcome to the Shelf Drilling First Quarter 2024 Earnings Conference Call. At this time, all participants are in listen only-mode. After the speakers’ presentation, there will be the question-and-answer session. [Operator Instructions] Please be advised that this conference is being recorded.

I would now like to hand the conference over to our speaker today, David Mullen. Please go ahead.

David Mullen

Thank you, operator, and welcome, everyone, to Shelf Drilling quarter one 2024 Earnings Call. Joining me on the call today is Greg O’Brien, Shell Drilling’s CFO. Earlier today, we published our Q1 2024 Financial Statements for Shelf Drilling Limited and Shelf Drilling North Sea Limited, as well as our latest Fleet Status Report on the Investor Relations page of our company website.

In addition to our press release and the financial statements, we also published a presentation with highlights from the quarter. A recording of this call will be made available on our website within the next few days.

Before we begin, let me remind everyone that our call will contain forward-looking statements. Except for statements of historical facts, all statements that address our outlook for the full-year 2024 and beyond, activities, events or developments that we expect, estimate, project, believe or anticipate may or will occur in the future are forward looking statements.

Forward-looking statements involve substantial risks and uncertainties that could significantly affect expected results. Actual future results could differ materially from those described in such statements.

Also note that we may use non-GAAP financial measures on the call today. If we do, you will find supplemental disclosure for these measures on an associated reconciliation in our financial reports.

I will provide an overview of our company’s performance for Q1 2024 before sharing my latest views on the jack-up market. I will then hand over to Greg for his remarks and walk you through our first quarter results and our updated guidance before opening the floor to Q&A....

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