Welcome to our dedicated page for Valaris news (Ticker: VAL), a resource for investors and traders seeking the latest updates and insights on Valaris stock.
Valaris Limited (NYSE: VAL) is an offshore contract drilling company that provides offshore drilling services to the international oil and gas industry. The company describes itself as the industry leader in offshore drilling services across all water depths and geographies, operating a high-quality fleet of ultra-deepwater drillships, versatile semisubmersibles and modern shallow-water jackups with experience in nearly every major offshore basin.
This news page aggregates company announcements, earnings releases and operational updates related to Valaris. Recent news has included multi-year and multi-well contract awards for drillships such as VALARIS DS-8 offshore Brazil with Shell, VALARIS DS-12 in Egypt with Bp Exploration Delta Limited, and long-duration contracts for VALARIS DS-16 and DS-18 with Anadarko Petroleum Corporation, a wholly-owned subsidiary of Occidental, in the Gulf of America. These items illustrate how the company secures and extends its contracted revenue backlog.
Visitors can also expect coverage of quarterly financial results, where Valaris reports metrics such as total operating revenues, net income, Adjusted EBITDA and segment performance for Floaters, Jackups, ARO and Other. The company’s communications often highlight revenue efficiency, cash flow generation, rig sales, and updates on backlog additions.
In addition, Valaris issues Fleet Status Reports that summarize the status of its offshore drilling rigs and associated contracts, and it announces investor events such as earnings conference calls and presentations at industry conferences. For investors, analysts and others following the drilling oil and gas wells industry, this news feed provides a focused view of Valaris’ contract activity, fleet developments and financial reporting.
Valaris Limited (NYSE: VAL) has successfully sold two heavy-duty modern jackups, VALARIS 113 and 114, to ADES Saudi Limited for a total of $125 million. Both rigs, PPL Pacific Class 400, were built in 2012 and have been stacked in the Philippines since late 2015. CEO Anton Dibowitz emphasized that the sale is highly accretive to shareholders, as reactivation would have required significant capital. Valaris is committed to strategic fleet management, continuously evaluating assets for potential retirement and divestiture.
Valaris Limited (NYSE: VAL) will host its first quarter 2022 earnings conference call on May 3, 2022, at 9:00 a.m. CDT. The earnings release will be available before the NYSE opens that morning. Participants can join via a webcast or phone, with dial-in options provided. A replay will be available until June 3, 2022. Valaris is a leader in offshore drilling services, operating a modern fleet in diverse offshore basins, committed to safety, operational excellence, and technological innovation.
Valaris Limited (NYSE: VAL) announced new contracts and extensions, contributing to a contract backlog of $181 million. Key highlights include two-year extensions with BP for rigs in the U.S. Gulf of Mexico, a one-well extension with TotalEnergies in Brazil, and a three-year contract with Saudi Aramco for the VALARIS 140 jackup rig. Additionally, the VALARIS DS-11 contract for an eight-well project has been transferred from TotalEnergies to Equinor without significant alterations. Valaris also retired rig VALARIS 67 from its fleet.
Valaris Limited (NYSE: VAL) reported that its drillship, VALARIS DS-16, broke free from its moorings due to gale force winds on March 12 while undergoing reactivation at a Mississippi shipyard. The vessel was quickly secured with no injuries, environmental damage, or major harm sustained. Valaris maintains that this incident will not affect the commencement of its upcoming contract.
Valaris Limited (NYSE: VAL) announced that CEO Anton Dibowitz will present virtually at the Evercore ISI Elite Energy & Materials Summit on March 9, 2022, at 11:35 a.m. CST. The presentation will be accessible on Valaris' website. Valaris is a leader in offshore drilling services, operating a high-quality rig fleet across various water depths and geographies. The company is committed to safety, operational excellence, and technology innovation. For more details, visit www.valaris.com.
Valaris Limited (NYSE: VAL) reported a strong operational performance in 4Q 2021 with a 97% revenue efficiency and a total contract backlog growth to $2.4 billion. The company added approximately $330 million to its backlog since 3Q 2021, including contracts in the U.S. Gulf of Mexico and offshore Australia. However, revenues dropped to $306 million in 4Q 2021 from $327 million in 3Q 2021, attributed to fewer operating days and lower day rates. The company anticipates improved financial results as it completes ongoing rig reactivations.
Valaris Limited (NYSE: VAL) has released its quarterly Fleet Status Report detailing the current operational status of its offshore drilling rig fleet along with respective contract information. This report highlights Valaris's leadership in offshore drilling services across various water depths and regions, emphasizing its commitment to safety and operational excellence. Investors can access the full report on the company’s website to gain insights into current contracts and fleet performance.
Valaris Limited (NYSE: VAL) will host its fourth quarter 2021 earnings conference call on Tuesday, February 22, 2022, at 9:00 a.m. CST. The earnings release will be published before the NYSE opens that day. Participants can join via a live webcast on the company's website or by dialing in. A replay will be available until March 22, 2022. Valaris, based in Bermuda, is a leader in offshore drilling, known for its state-of-the-art fleet and commitment to safety and performance. For updates on Valaris, investors can sign up for email alerts on its website.
Valaris Limited (NYSE: VAL) has secured two one-well contracts with Murphy Oil Corporation for its semisubmersible VALARIS DPS-5. The first contract in the U.S. Gulf of Mexico is set to start in Q3 2022, lasting a minimum of 30 days with a 90-day option. The second contract, located offshore Mexico, will follow immediately and is estimated to last for 60 days. These contracts signify Valaris' operational capabilities and commitment to offshore drilling services.
Valaris Limited (NYSE: VAL) has announced new contracts for offshore drilling services, including:
- A one-well contract with Kosmos Energy in the U.S. Gulf of Mexico, starting February 2022 for 105 days.
- A one-well contract with Western Gas offshore Australia, commencing Q1 2022 for 25 days.
- A six-well contract with Centrica Storage in the UK North Sea, starting Q3 2022 for 100 days.
- A one-well contract with an undisclosed operator in the U.S. Gulf of Mexico, beginning Q1 2022 for at least 68 days.
These contracts highlight Valaris's operational capabilities across various regions.