Okay. Thank you and welcome everyone to Noble Corporation's First Quarter 2021 Earnings Conference Call. We appreciate your continued interest in the company. You can find a copy of Noble's earnings report issued yesterday evening along with the supporting statements and schedules on our website at noblecorp.com. Joining me today are Robert Eifler, President and Chief Executive Officer; and Richard Barker, Senior Vice President and Chief Financial Officer. For today's call, we will not be hosting a question-and-answer session at the end of the prepared remarks. During the course of this call, we may make certain forward-looking statements regarding our various matters related to our business and companies that are not historical facts. Such statements are based on current expectations and assumptions of management and are therefore, subject to certain risks and uncertainties. Many factors could cause actual results to differ materially from these forward-looking statements and Noble does not assume any obligation to update these statements. Please refer to our SEC filings for more information regarding our forward-looking statements, including the risks and uncertainties that could impact our future results. Also note, we are referencing non-GAAP financial measures in the call today. You will find the required supplemental disclosure for these measures, including the most directly comparable GAAP measure and an associated reconciliation on our website. And with that, I'll now turn the call over to Robert Eifler, President and Chief Executive Officer of Noble.

Thanks, Craig, and thanks to everyone who joined our call today. On April 1, Noble celebrated its 100th anniversary as a drilling contractor. In the century since our founding Noble has evolved from a land driller in North America to one of the premier offshore drilling contractors with operations across the globe. We have seen many highs and lows in our cyclical industry but the past several years have been some of the most challenging and disruptive our company and our industry have faced. The men and women of Noble have risen up to meet each challenge. Our 100th anniversary, is an important milestone for our company and I cannot be more proud to be a part of the Noble team. Thank you to all Noble employees past and present for your support of our company and achieving this milestone. We are pleased with our first quarter results and the accomplishment of a number of important strategic objectives in the first part of 2021. In early February, we completed our financial restructuring transactions and emerged with a much stronger financial foundation. In March, we announced the acquisition of Pacific Drilling and expeditiously closed the transaction on April 15. Pacific Drilling represents a highly strategic acquisition, which enhances our position in ultra-deepwater market segment. I'll begin my operational and market commentary with a focus on this segment. The Noble drillship fleet has been fully contracted for some time and our newly acquired drillships allow us to bid for the first time in a while on various opportunities we see upcoming. One of our marketing priorities is to find work for the drillships, that we have rolling off contract this year. We expect the Santa Ana to complete its contract with Petronas and Mauritania in August and are primarily bidding the Santa…

Thank you, Robert. I will give a brief review of our combined first quarter results and our current capital structure. Before discussing some details related to the Pacific Drilling acquisition. But before I begin to review the quarter, I want to provide a baseline with respect to the significant accounting changes in our financial statements resulting from the company's recent restructuring. Upon emergence from bankruptcy on February the 5th, we adopted fresh start accounting with our operating results split between the predecessor period from January 1 through February 5 and successor period from February 6 through March 31. Fresh start accounting requires a fair values we established for the company's assets, liabilities and equity as of the date of emergence and therefore certain values and operational results will not be comparable for the predecessor and successor periods. Further detail around our application of fresh start accounting will be included in our Form 10-Q, which will be filed later this week, we encourage you to refer to the GAAP measures for predecessor and successor periods. As stated in our financial statements. However, for this discussion I will combined predecessor and successor periods and refer to the combined first quarter as we believe this is a more meaningful way to analyze our results. Turning to our quarterly results, contract drilling services revenues combined first quarter totaled $159 million versus $195 million for the fourth quarter. The decrease is related to a number of rigs that had lower operating days in the combined first quarter including the Lloyd Noble, Sam Croft, Tom Prosser and Roger Lewis. Contract drilling services revenues for the combined first quarter also reflects a reduction of approximately $8 million as a result of non-core cash amortization of contract intangible assets specific to the two Globetrotter rigs. These intangible stemmed…

Thanks, Richard. We are excited about our future. Our industry does face a number of challenges and we'll see a lot of change over the next few years. However, oil and gas will remain a major component of the world's energy mix. Since our beginning to 100 years ago Noble has been an important part of the energy value chain providing access to resources to power the world. Noble supports a sustainable energy future through our operational efforts to protect the environment and safely deliver reliable and efficient drilling services. We are a global company with employees who are for many different countries, through practice many different religions and have many different ideas. We believe this diversity from our boardroom to our rig floors is a strength. Noble kicked off a much-anticipated consolidation phase in our industry through the purchase of Pacific Drilling. Additional consolidation is essential for our industry and will not only provide meaningful cost synergies to the participants, but also allow the best companies to offer a broader range of drilling units and services to more customers. To the extent that a deal is in the best interest of Noble shareholders, we are well positioned to be a leader in further consolidation. We've accomplished a lot in the past several months. Our balance sheet has strengthened, our fleet is enhanced with new high-spec assets and our cost structure has improved. All of this was accomplished while maintaining our focus on delivering safe and efficient operations to our customers, but we have more work to do. We will continue to push in each of these areas to be better than we are today. And I am confident that our efforts will lead to many years of sustained success for Noble. Thank you for your participation in our call today. And I'll now turn it back to the operator to close the call.

This concludes today's conference call. Thank you for participating. You may now disconnect.