Valaris Limited reports news centered on offshore contract drilling services for the oil and gas industry. Company updates regularly address fleet status for ultra-deepwater drillships, semisubmersible rigs and shallow-water jackups, including contract information, extensions and utilization developments across offshore basins.
Recurring Valaris news also covers operating and financial results, material agreements, capital-structure matters and governance developments. The company operates through drilling fleet categories that include floaters and jackups, with additional activity tied to ARO and third-party rig management services.
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.
Valaris Limited (NYSE: VAL) has secured new bareboat charter agreements with ARO Drilling for several jackup rigs, extending contracts for VALARIS 250, VALARIS 116, VALARIS 143, and VALARIS 146 for three years starting December 2021. ARO Drilling's rigs ARO 3003 and ARO 3004 also received five-year extensions with Aramco, commencing at the same time. CEO Anton Dibowitz highlighted the importance of the contracts for maintaining a strong relationship with Aramco and underscored ongoing growth with ARO's newbuild program, with the first two jackups expected by late 2022.
Valaris Limited (NYSE: VAL) announced that Famatown Finance Limited has acquired approximately 5% of its common shares. This investment, indirectly controlled by John Fredriksen's trusts, indicates confidence in Valaris' management and its value proposition. Valaris has entered a support agreement with Famatown, allowing for potential Board representation. The Seatankers Group expressed its intent to be a long-term shareholder, collaborating with Valaris to drive shareholder value.