Unidentified Company Representative: Thanks, Bruno. What is the opportunity set looking like in terms of expansion of the fleet? And what about the under construction rigs seeking buyers? What is Borr’s view on this opportunity?
Patrick Schorn: So we are very happy with the size of our fleet, as we have stated many times. So I don’t see a scenario where we’d be interested in selling the 2 rigs that are under construction. As Bruno mentioned earlier, we have very fruitful discussion with a variety of parties that are interested to contract them. And that’s really the business we’re in, us being a drilling contractor and using our rigs. So I don’t see selling as one of the preferred or likely avenues. When it comes to overall expansion of the fleet, I think that there is — as we have said in the past, there’s always opportunities, and we will look at them carefully, but we will want to make sure that some of the key strengths that we have remain intact, meaning that we want to make sure that we continue to have a very solid financial footing that any assets that would be added to the fleet are very similar in age and equipment as what we currently operate, which that — if you just set that as your parameters, the opportunity set actually becomes fairly small and might be a rig here or there.
So I would say, at this moment, we focus very much on our own fleet. And as some opportunities come up, we will evaluate them, but they are not the main focus of the management team.
Unidentified Company Representative: Thanks, Patrick. Last one. The leading edge day rates have been flat at around $165,000 to $170,000 a day for the last 6 months. When do you think we are seeing the next leg up potentially hitting the $200,000 mark?
Patrick Schorn: Yes. I think that, that is a fair question that obviously, I will hand over to Bruno. But I think that it is the flattening of the level as we have been at a very high level. And actually, we have been able to get these level of contracts across the world in every region. And I think that, that is a major step forward in what we have. And Bruno, maybe you can comment a bit on what we are tendering today and the rates you are expecting. And therefore, when you think you’ll be getting towards $200,000.
Bruno Morand: Sure, Patrick. When we look at the market at the moment, and as I mentioned in my remarks, we do see a lot of opportunities now hitting the market and more to come, right? And it goes without saying that it is the market about utilization, it is a market about tightness. With these additional requirements, particularly multi-year requirements potentially soaking some of the remaining capacity, that is when we would expect day rates to accelerate further. I would fall short of providing more details on our particular bidding rates, but it’s fair to say that our offers continue to push on the upside and frequently are getting very close to the higher end of the hundreds and not too far shy of the $200,000 a day. I think in the second half of the year, as a lot of these tenders come to the market, that’s when we expect a higher acceleration but it continues to move in the right direction.
I mean as an average, we were at $161,000 during last year. This beginning of the year, we are at $166,000. And as Patrick highlighted, this is not hanging on one fixture and neither hanging in one region. It’s been a development that is happening across the globe, which is very positive to see.
Patrick Schorn: Okay then. I understand that we have reached the end of our questions. So thank you very much for your attention, and we look forward again, talking to you real soon with the next update. Thank you.
