William Restrepo

“The current market backdrop merits a few comments as macroeconomic uncertainty remains a key theme. Financial markets continue to digest the impact of the current administration's approach to foreign trade and the ongoing debate between treasury and the Fed.”

“I would like to make an initial comment on the Parker-Wellbore acquisition, which closed on March 11. Our first quarter financial statements included 20 days for the acquired business.”

“A key element of our strategy is to grow the contribution from these capex-light segments. In the fourth quarter, contribution increased to 19.5% of the company's consolidated EBITDA.”

“Our third quarter drilling rig activity was stable, both in the U.S. and in International markets. NDS results were strong, reflecting growing International activity, particularly in casing running.”

“Overall, the second quarter financial EBITDA was slightly below our first quarter results as increases in our International Drilling segment, as well as Drilling Solutions and Rig Technologies were offset by the sequential decline in the U.S. drilling segment.”