Valaris Ltd. has gained contracts from BP PLC and TotalEnergies SE for drilling packages offshore Brazil and Indonesia, with a complete contract backlog of $65 million.
The Valaris DS-15 rig has been tasked with one BP nicely in Brazil. The contract is anticipated to begin within the first half of 2024 lasting for an estimated 80 days, Valaris, an offshore drilling firm integrated in Bermuda, mentioned in a press launch. The drillship has already been deployed within the South American nation underneath an earlier contract this yr given by TotalEnergies, in accordance with Valaris’ fleet standing report printed August 1.
In one other contract, Valaris mentioned, “A beforehand disclosed exercised priced choice with TotalEnergies offshore Brazil for drillship VALARIS DS-15 is now anticipated to be undertaken in direct continuation of the aforementioned BP contract”.
The elective extension is projected to start within the second or third quarter of subsequent yr with an anticipated operation of round 100 days. The worth of this contract, which has a each day fee of $254,000, isn’t included within the $65 million backlog.
Valaris additionally expects to execute one other elective contract extension from BP Indonesia for heavy-duty trendy jackup Valaris 106 beginning January and lasting for an estimated one yr. “The working day fee is $85,000 efficient from January 6, 2024, rising to $95,000 from January 6, 2025”, Valaris mentioned.
Earlier it introduced it had gained a 12-well contract offshore West Africa for Valaris DS-7. Estimated to be $364 million, the contract is anticipated to begin within the second quarter of 2024, Valaris mentioned in a information launch July 31.
“This most up-to-date award represents the seventh contract awarded to one in all our high-quality floaters requiring reactivation since mid-2021 and speaks volumes about our demonstrated monitor report of mission execution when reactivating rigs and delivering operational excellence for our prospects”, Valaris president and chief govt Anton Dibowitz mentioned in a press release concerning the African contract.
“We proceed to take a disciplined strategy to rig reactivations, and we anticipate this contract to generate a significant return over the preliminary agency time period”.
On July 5 Valaris introduced new contracts and contract extensions for drilling in Australia and the USA with a complete backlog of $150 million.
Semisubmersible Valaris DPS-5 has been tapped by Anadarko Petroleum Corp. for the USA Gulf of Mexico. The contract was to begin July 2023 for a 60-day operation. After this, the identical rig was to be employed September 2023 in the identical space for at the very least 110 days by Apache Corp. The nine-well contract is for a plugging marketing campaign.
In Australia, heavy-duty trendy jackup Valaris 107 has been contracted by two unnamed corporations. One of many contracts, with a period of 180 days, is anticipated to begin within the first quarter of 2024 whereas the opposite, with a period of 1 yr, is anticipated to begin October 2024.
One other undisclosed Australian firm has known as up heavy-duty, ultra-harsh surroundings jackup Valaris 247 for a two well-contract anticipated to begin mid-2024. The contract has a each day fee of $180,000 for an operation projected to final 100 days.
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