Chris Weber
SVP & CFO at Valaris
Turning to our financial guidance for full year 2025. We now expect adjusted EBITDA in the range of $565,000,000 to $6.00 $5,000,000 up from our prior guidance range of 500,000,000 to $560,000,000 This increases the midpoint of our adjusted EBITDA guidance by $55,000,000 taking it up to $585,000,000 primarily due to our outperformance in the second quarter. In terms of our guidance for specific line items, we now forecast total revenues of $2,250,000,000 to $2,300,000,000 which is fully contracted at the midpoint, contract drilling expense of 1,570,000,000.00 to $1,600,000,000 and G and A expense of 100,000,000 to $105,000,000 Our full year 2025 CapEx guidance remains unchanged at $375,000,000 to $415,000,000 and we expect approximately $70,000,000 in upfront customer payments this year, which will help offset contract specific upgrades. This concludes my review of our financial results and guidance. I'll now hand the call back to Anton for some closing remarks.