Anton Dibowitz

President, Chief Executive Officer & Director, Valaris

Search every verified Anton Dibowitz interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. Anton Dibowitz, President, Chief Executive Officer, and Director at Valaris, discussed the company's first-quarter 2020 results during a conference call on May 28, 2020. He reported a net loss of $1.565 billion for the quarter, attributing the largest portion to impairments, including a $1.2 billion write-down on rig assets. Dibowitz stated that lower oil prices triggered a reevaluation of asset carrying values, leading to expectations of longer cold-stacking durations, higher reactivation costs, and reduced returns on reactivation investments. He also noted an increased probability of scrapping semi-submersible assets and wrote down the value of the company's investment in Seadrill Partners to zero, anticipating a comprehensive restructuring of that entity's balance sheet. Dibowitz emphasized the company's operational continuity during the COVID-19 pandemic, citing solid technical utilization of 95% for the quarter and expressing gratitude to employees for maintaining service to customers. He said the company was focused on preserving liquidity and reducing costs both onshore and offshore in response to an anticipated extended downturn. Dibowitz mentioned that Seadrill was evaluating the long-term viability of its assets, including removing uncompetitive rigs from the market and reassessing liabilities, as part of positioning the company for future market conditions.