Offshore drilling companies supplier Valaris Restricted has secured extra work for 2 of its items. The corporate stated in a media launch it has secured a 940-day contract extension for drillship Valaris DS-16, beginning in June 2026. It has additionally secured a brand new 914-day contract for drillship Valaris DS-18, anticipated to begin within the mid-fourth quarter 2026, with Anadarko Petroleum Corp., a wholly-owned subsidiary of Occidental, within the Gulf of America.
The mixed addition to the contracted income backlog is roughly $760 million, Valaris stated.
“We’ve secured roughly $1.9 billion in new contract backlog up to now this yr, reflecting strong execution of our industrial technique and our skill to ship secure and environment friendly operations for our clients. We stay centered on securing further enticing, long-term contracts for our high-specification belongings that may additional help our earnings and money circulate”, Anton Dibowitz, President and Chief Govt Officer, stated.
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Earlier the corporate agreed to promote its jackup Valaris 247 to BW Power for money proceeds of roughly $108 million. This sale is anticipated to shut within the second half of 2025, topic to customary closing situations. As a part of the gross sales settlement, BWE shall be restricted from utilizing the rig exterior of BWE-owned or affiliated properties for the rig’s anticipated remaining helpful life, Valaris stated.
On the time of the sale, Dibowitz stated that the 27-year-old vessel was working offshore Australia.
Valaris had additionally secured a five-well contract offshore West Africa for Valaris DS-15. That contract, in accordance with the corporate, is anticipated to begin within the third quarter of 2025 and run for 250 days. The contract is valued $130 million.
To contact the writer, electronic mail andreson.n.paul@gmail.com
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