Transocean Ltd (RIG) Q4 2019 Earnings Call Transcript

Transocean Ltd (RIG) Q4 2019 Earnings Call Transcript

I would like to turn the conference over to Mr. Brad Alexander, Vice President, Investor Relations.. Good morning and welcome to Transocean's fourth quarter and year-end 2019 earnings conference call.. Joining me on this morning's call are Jeremy Thigpen, President and Chief Executive Officer; Mark Mey, Executive Vice President and Chief Financial Officer; and Roddie MacKenzie, Senior Vice President of Marketing and Contracts.. Such statements are based upon the current expectations and certain assumptions and are subject to certain risks and uncertainties.. To get more participants an opportunity to speak on this call, please limit yourself to one initial question and one follow-up.. Looking first at our fleet, in August, the Transocean Norge entered our active fleet, commencing her maiden contract with Equinor Norway.. Construction on the Deepwater Titan has progressed as planned, and we look forward to delivering this drillship to Chevron for her maiden contract commencing in 2021.. The five-year contract will allow Chevron to construct and ultimately produce the first fields in this extremely high pressure area of the lower tertiary in the deepwater Gulf of Mexico.. With multiple operators requiring a rig for their ultra-high pressure properties in the Gulf of Mexico, the Atlas, with its