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) will host its third quarter 2021 earnings conference call on November 2, 2021, at 9:00 a.m. CDT. The earnings release will precede the market opening. Participants can join the live webcast on Valaris' website or via designated phone lines. A replay will be available until December 2, 2021. Valaris is a leader in offshore drilling services, focusing on operational excellence and technological innovation.
Valaris Limited (NYSE: VAL) has secured a 211-day extension to its bareboat charter agreement for the VALARIS JU-36 jackup rig with ARO Drilling, extending the contract through March 2022. This extension aligns with ARO Drilling's ongoing contract with Aramco. Valaris continues to lead in offshore drilling services with a modern fleet and a focus on safety and operational excellence.
Valaris Limited (NYSE: VAL) has secured multiple contracts including one with TAQA offshore the Netherlands for the VALARIS JU-123 jackup rig, starting in Q4 2021 for a minimum of 60 days. This contract involves preparing a wellbore for the Porthos CO2 project and will include an upgrade to a selective catalytic reduction (SCR) system to reduce emissions. Additionally, contracts have been awarded for operations in the UK North Sea and offshore Timor-Leste, with durations of 72 days and 30 days, respectively.
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Valaris Limited (NYSE: VAL) announced that interim President and CEO Anton Dibowitz will present at the Pareto Securities Energy virtual conference on September 15, 2021, at 8:50 a.m. CDT. The investor materials for this conference will be accessible on the Valaris website. A recording of the presentation will be available on the website starting September 16, 2021, for a duration of 30 days. Valaris is a leader in offshore drilling services, operating a diverse fleet and emphasizing safety, innovation, and customer satisfaction.
Valaris Limited (NYSE: VAL) announced that interim President and CEO Anton Dibowitz will present at the Barclays CEO Energy-Power virtual conference on Wednesday, September 8, 2021, at 12:05 pm EDT. Investor materials will be available on Valaris' website, with a live webcast during the presentation. A replay will be accessible for one year post-conference. Additionally, Valaris has posted an ARO Drilling investor presentation. ARO Drilling operates jackup drilling rigs in Saudi Arabia, a 50/50 joint venture with Saudi Aramco.
Valaris Limited (NYSE: VAL) announced leadership changes effective September 2, 2021, with Tom Burke stepping down as President and CEO and Jon Baksht leaving his role as CFO. Anton Dibowitz, a current Board member, will serve as interim CEO, while Darin Gibbins takes over as interim CFO. The Board emphasizes a smooth transition, with Dibowitz's extensive offshore drilling experience expected to support ongoing operational momentum. Valaris has secured over 20 new contracts or extensions since early May, resulting in a backlog exceeding $1.3 billion, showcasing strong market positioning.
Valaris Limited (NYSE: VAL) has secured one-well contracts with Shell Namibia Upstream B.V. and Shell Sao Tome and Principe B.V. for its drillship, VALARIS DS-10, slated to begin in Q4 2021. The Namibia contract will last approximately 60 days, followed directly by the Sao Tome and Principe contract. This announcement highlights Valaris’s ongoing commitment to offshore drilling services in crucial areas, bolstering its operational capabilities.
Valaris Limited (NYSE: VAL) reported its second quarter 2021 results following its emergence from Chapter 11 bankruptcy on April 30, 2021. The company achieved a net cash position and secured over 20 new contracts totaling $1.3 billion. Revenues for the Successor period were $203 million, while combined revenues decreased to $293 million from the prior quarter. The combined adjusted EBITDA was $17 million. Valaris noted increased demand signals in the market, positioning itself for future growth by focusing on operational performance and rig reactivation.
Valaris Limited (NYSE: VAL) has released its quarterly Fleet Status Report, detailing the current status of its offshore drilling rig fleet and contract information. Valaris operates a diverse fleet including ultra-deepwater drillships, semisubmersibles, and jackups, emphasizing its commitment to safety and technological innovation in offshore drilling. The report can be accessed in the Investors section of Valaris' website. Forward-looking statements highlight risks such as liquidity, oil price volatility, and impacts from the COVID-19 pandemic.