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 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.
Valaris Limited (NYSE: VAL) is set to announce its second quarter 2021 earnings on August 3, 2021, at 9:00 a.m. CDT. The earnings release will be distributed prior to market opening on the New York Stock Exchange. Stakeholders can access the conference call via webcast or by phone. A replay of the call will be available until September 3, 2021. Valaris, a leader in offshore drilling, operates a modern fleet and emphasizes safety and operational excellence. For updates, investors can sign up for Email Alerts on their website.
Valaris Limited (NYSE: VAL) has secured a contract with Woodside for 16 wells in Australia utilizing the VALARIS DPS-1 semisubmersible. The contract is set to start in late Q1 or early Q2 2022 and has an estimated duration of 300 days. This agreement strengthens Valaris' position in offshore drilling services, highlighting its commitment to operational excellence and customer satisfaction.