Valaris announces contract awards and fleet status updates
Published by Jack Roscoe,
Editorial Assistant
Oilfield Technology,
Valaris Limited has announced new contracts and contract extensions, with associated contract backlog of approximately US$1.14 billion, awarded subsequent to issuing the Company’s most recent fleet status report on November 1, 2023.
President and Chief Executive Officer Anton Dibowitz said, “We are delighted to announce these contract awards and extensions, which add well over US$1 billion of contract backlog at attractive economics, providing further evidence of the positive outlook for Valaris. These awards include two multi-year drillship contracts and several jackup contracts across the North Sea, Trinidad, and Australia.”
Dibowitz added, “The contract awards for VALARIS DS-4 and VALARIS DS-16 are great examples of how we are executing on the operating leverage inherent in our business, with day rates transitioning from legacy rates in the low US$200 000s to market rates. We are also beginning to see early signs of a recovery in the North Sea jackup market from 2025 as evidenced by several awards at improving day rates.”
Read the article online at: https://www.oilfieldtechnology.com/offshore-and-subsea/10012024/valaris-announces-contract-awards-and-fleet-status-updates/
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