Valaris Ltd has announced that it has been awarded a 940-day contract extension for drillship VALARIS DS-16, starting in June 2026, and a new 914-day contract for drillship VALARIS DS-18, that is expected to start in mid-4Q26, with Anadarko Petroleum Corp., a wholly-owned subsidiary of Occidental, in the Gulf of Mexico. The combined addition to contracted revenue backlog is approximately US$760 million.
President and Chief Executive Officer Anton Dibowitz said, “We’ve secured approximately US$1.9 billion in new contract backlog so far this year, reflecting solid execution of our commercial strategy and our ability to deliver safe and efficient operations for our customers. We remain focused on securing additional attractive, long-term contracts for our high-specification assets that will further support our earnings and cash flow.”
Read the latest issue of Oilfield Technology magazine for upstream news, project stories, industry insight and technical articles.
Oilfield Technology’s May/June 2025 issue
The May/June 2025 issue of Oilfield Technology includes articles on reducing methane emissions, smart infrared technology, the challenge of torsional vibrations, flow control, upstream sensing, and water treatment.