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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) has announced that its ultra-deepwater drillship, VALARIS DS-12, has become the first vessel globally to receive the ABS Enhanced Electrical System Notation EHS-E. This upgrade improves reliability, optimizes powerplant performance, and reduces emissions by enabling operations on fewer generators. The milestone highlights Valaris' commitment to sustainability and advanced technology in offshore drilling.
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.