Valaris Announces Contract Awards and Fleet Status Updates
Key Highlights
- ➤Valaris (VAL) awarded contracts and extensions with approximately $220 million backlog
- ➤VALARIS 107 secured a 300-day Australia contract worth approximately $50 million
- ➤Southern North Sea plug-and-abandonment award carries estimated $41.5 million backlog
- ➤VALARIS 122 extension with INEOS includes $115,000 operating day rate
- ➤VALARIS MS-1 and VALARIS 111 sold for recycling in September 2026
Valaris Limited (NYSE: VAL) (“Valaris” or the “Company”) today announced that it has been awarded new contracts and contract extensions, with associated contract backlog of approximately $220 million, subsequent to issuing the Company’s previous fleet status report on August 5, 2026. Contract backlog excludes lump sum payments such as mobilization fees and capital reimbursements.
* Two-well exploration contract with PETRONAS Suriname Exploration & Production B.V. for drillship VALARIS DS-18. The contract, which follows a previously announced Letter of Award, is expected to commence in the fourth quarter of 2026 with a duration of up to seven months. The contract backlog excludes additional services that may be provided and billed separately, as well as compensation for mobilization and demobilization.
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