Transocean Ltd. (RIG)

[eastunder]

Doug, in the transcript - this is pretty much what they were talking about on the Final Trade video...

So in the prepared remarks, it was global offshore greenfield exploration and production investments are projected to grow to $110 billion in-that's up 129% from $48 billion in 2024. And so, that is what we believe is going to be driving the incremental five to 10 rigs that we discussed earlier on the call in one of the Q&A sessions. So I mean, just that level of incremental capital is obviously going to lead to an increase. And so, that's really what's giving us the kind of the confidence that we will see an increase in rig count.

And since we're already at 98% utilization on the active fleet, this is going to lead to customer finance reactivations. And so, that does give us some confidence that we will ultimately begin reactivating some assets here in the not-too-distant future.