Every 8-K that Valaris Limited (VAL) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 8-K covers material events a company has to report between its quarterly reports, so if you follow VAL and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full VAL filings page.
Valaris Limited reports updated fleet activity and contract backlog as of August 5, 2026. New contracts and extensions since May 4 added more than $160 million of contract backlog, bringing total backlog to approximately $4.6 billion across floaters, jackups and other services through 2028 and beyond.
Key awards include a 101-day extension and a 41-well plug and abandonment contract for VALARIS 248 in the UK North Sea, adding approximately $7.5 million and $140 million, respectively, plus a one-well Baltic Sea contract for VALARIS 123 at an operating day rate of $135,000. Middle East operations remain under contract, with several rigs resuming or recommencing work.
The company sold jackups VALARIS 104 and 109, which had been stacked for about six years, for total cash proceeds of $74 million. Average 2026 day rates are $426,000 for drillships and $126,000 for jackups. Disclosures also outline expected out-of-service days for planned maintenance and extensive forward-looking risk factors, including a pending transaction with Transocean Ltd.
Valaris Limited reported second-quarter 2026 results with total operating revenues of $539.2 million, net income of $47.0 million and Adjusted EBITDA of $96.5 million, compared with $465.4 million of revenues and $66.7 million of Adjusted EBITDA in the first quarter.
Operations delivered 98% revenue efficiency, supported by the successful startup of drillships VALARIS DS-12 and DS-10 and added North Sea jackup backlog of more than $160 million. Ongoing conflicts in the Middle East reduced Adjusted EBITDA by about $30 million, though management expects these impacts to moderate in the second half of 2026. As of June 30, 2026, cash and cash equivalents were $541.2 million against long-term debt of $1,087.6 million, and total contract backlog was $4,585.2 million as of August 5, 2026. The company also continues to pursue a pending business combination with Transocean, which is expected to close in the fourth quarter of 2026 and to provide synergies and enhanced capabilities.
Valaris Limited reports progress on its planned all-stock business combination with Transocean. Under the agreement, Transocean will acquire all Valaris common shares in exchange for 15.235 Transocean shares per Valaris share. Valaris and Transocean have received formal approval from the U.S. Committee on Foreign Investment in the United States, satisfying the CFIUS-related closing condition.
The U.S. Department of Justice has issued a Second Request under the Hart-Scott-Rodino Act, and the parties have agreed not to certify substantial compliance before July 31, 2026 and not to close the deal until 60 days after both certify substantial compliance, unless the waiting period is terminated earlier. The companies continue to cooperate with the DOJ and continue to expect completion of the business combination in the second half of 2026, subject to remaining regulatory and shareholder approvals and other customary closing conditions.
Valaris Limited held its 2026 Annual General Meeting of Shareholders in Bermuda on June 10, 2026. There were 69,251,773 common shares entitled to vote based on the April 13, 2026 record date, and 61,111,993 shares, or 88.24%, were present in person or by proxy.
Shareholders cast votes on the election of director nominees and other matters described in the 2026 Proxy Statement. For example, Elizabeth D. Leykum received 56,609,714 votes for and 499,091 votes against, while Anton Dibowitz received 57,097,368 votes for and 11,406 votes against. Additional proposals also received tens of millions of votes in favor, with some items showing no broker non-votes.
Valaris Limited reported a regulatory development in its planned all-stock business combination with Transocean. Under their agreement, each Valaris share would be exchanged for 15.235 Transocean shares, combining two major offshore drilling contractors through a scheme of arrangement under Bermuda law.
The U.S. Department of Justice issued a Second Request for additional information under the Hart-Scott-Rodino Act on May 4, 2026, extending the antitrust waiting period to 30 days after both parties substantially comply. This adds timing uncertainty to the closing, though Valaris states that the parties are continuing to cooperate with the DOJ.
Valaris Limited furnished an updated Fleet Status Report as of May 4, 2026, highlighting new offshore drilling contracts and a larger forward workload. Contract backlog increased to approximately $4.9 billion, up from about $4.7 billion in the prior report, reflecting additional rig commitments.
Key awards include a 1,064‑day extension for drillship VALARIS DS-4 with Petrobras in Brazil, adding roughly $447 million of backlog while reducing earlier backlog by about $21 million due to a day‑rate adjustment. Several jackup rigs secured extensions or new work, such as VALARIS 115 with Brunei Shell Petroleum adding about $78 million, and VALARIS 106 with Medco Energi in Indonesia with an estimated contract value of $5.4 million.
The report notes ongoing strength in Middle East operations, with all Valaris and ARO rigs there remaining under contract, though shipyard projects for VALARIS 116 and VALARIS 250 are delayed and operations for VALARIS 110 have been suspended since early March 2026. Semisubmersible VALARIS DPS-1 was sold for recycling, and detailed tables outline contracted days, average day rates and expected out‑of‑service time for maintenance across the fleet.
Valaris Limited reported a mixed first quarter 2026. Total operating revenues were $465.4 million, down from $537.4 million in the prior quarter, and the company recorded a net loss of $18.0 million versus a tax-driven profit previously. Adjusted EBITDA was $66.7 million, down from $97.0 million, as fewer operating days in both floater and jackup fleets reduced revenue.
Revenue efficiency remained strong at 98%, reflecting high uptime on contracted rigs. Contract drilling expenses fell to $340.4 million, helped by warm-stacking certain floaters and deferring preparation costs, though war-risk insurance in the Middle East added about $8 million of costs. Cash and cash equivalents were $578.3 million as of March 31, 2026.
Commercially, Valaris added over $500 million of new contract backlog, lifting total backlog to approximately $4.9 billion, its highest in nearly a decade, including a multi-year extension for VALARIS DS-4 in Brazil. The company also highlighted a pending all-stock business combination with Transocean and stated it does not intend to hold future earnings calls or update forward-looking guidance while that transaction is pending.
Valaris Limited reported fourth quarter 2025 operating revenues of $537.4 million, down 10% from the prior quarter, and net income of $717.5 million, boosted by a $680.4 million tax benefit tied to deferred tax asset valuation allowance changes.
Adjusted EBITDA was $97.0 million versus $163.2 million in the third quarter as floater and jackup revenues declined on fewer operating days and asset sales, while maintenance, claims accruals and mobilization costs increased. Revenue efficiency remained high at 98% and total contract backlog was approximately $4.7 billion, supported by nearly $900 million of new awards since the third quarter.
For full-year 2026, Valaris guides to total operating revenues of $2,125–2,205 million, Adjusted EBITDA of $485–565 million excluding costs for its pending all-stock combination with Transocean Ltd., and capital expenditures of $425–475 million, partly offset by about $110 million of customer upfront payments. Around 97% of 2026 revenue at the midpoint of guidance is covered by firm contracts, and management expects currently idle drillships to return to work through 2026.
Valaris Limited released an updated fleet status report as of February 17, 2026, highlighting new offshore drilling contracts and extensions that add nearly $900 million of contract backlog. Total contract backlog increased to approximately $4.7 billion, up from about $4.5 billion in the prior report.
Key wins include a five-well extension for drillship VALARIS DS-7 with Azule Energy in Angola, a two-year extension for VALARIS DS-9 with Esso Angola, and a multi‑year VALARIS DS-8 contract with Shell in Brazil valued at about $300 million. On the jackup side, notable awards include a two‑year BP Indonesia contract for VALARIS 106 with an estimated value of roughly $74 million and multiple North Sea accommodation and plug-and-abandonment contracts. The company also removed roughly $120 million of backlog tied to the suspended VALARIS 120 contract, classified semisubmersible VALARIS DPS‑1 as held for sale, and sold jackups VALARIS 102 and 145 for recycling, while outlining expected maintenance-related out‑of‑service days across several rigs.
Valaris Limited has agreed to combine with Transocean Ltd. in an all-stock transaction. Each Valaris common share will be exchanged for 15.235 Transocean shares through a Bermuda court-approved scheme of arrangement. After closing, Transocean shareholders are expected to own about 53% of the combined company and Valaris shareholders about 47%.
Valaris will become a subsidiary of Transocean at the effective time of the court sanction order. Existing Valaris warrants will be assumed by Transocean and become exercisable for the transaction consideration. Two current Valaris directors will join Transocean’s board, and outstanding Valaris equity awards will generally convert into Transocean time-based awards using the agreed exchange ratio.
The deal is subject to customary conditions, including shareholder approvals, regulatory clearances, court sanction and NYSE listing of new Transocean shares. The Agreement includes reciprocal termination rights, with termination fees of $195 million payable by Transocean in certain cases and $173 million payable by Valaris in others, plus expense reimbursement caps of $65 million for Transocean and $58 million for Valaris if shareholder approvals are not obtained in specified circumstances.
Valaris Limited agreed to be acquired by Transocean Ltd. in an all‑stock business combination valued at approximately $5.8 billion, creating a pro forma offshore driller with about $17 billion in enterprise value. Valaris shareholders will receive 15.235 Transocean shares for each Valaris share, leaving Transocean investors with roughly 53% and Valaris investors with 47% of the combined company on a fully diluted basis.
The merged company is expected to own 73 offshore rigs and hold an industry‑leading contract backlog of about $10 billion, supporting cash‑flow visibility. Management highlights over $200 million in identified cost synergies, alongside Transocean’s existing cost‑reduction program, and targets a leverage ratio of roughly 1.5x within 24 months after closing. The deal, unanimously approved by both boards, will be implemented via a Bermuda court‑approved scheme of arrangement and is expected to close in the second half of 2026, subject to shareholder and regulatory approvals.
Valaris Limited (VAL) furnished an 8-K announcing that it issued a press release with its Third Quarter 2025 results. The release is provided as Exhibit 99.1 and is incorporated by reference into Item 2.02. The company notes the Item 2.02 information is furnished, not filed under the Exchange Act and is not subject to Section 18 liabilities. Additional exhibits include Exhibit 101 (inline XBRL data) and Exhibit 104 (cover page inline XBRL).
Valaris Limited furnished a Fleet Status Report as of October 23, 2025, via an 8‑K under Item 7.01 (Regulation FD). The report is attached as Exhibit 99.1.
The company states this information is furnished, not filed, and therefore not subject to Section 18 of the Exchange Act, nor incorporated by reference unless specifically noted. The filing also includes Exhibit 101 (inline XBRL) and Exhibit 104 (cover page iXBRL).