Economy of Bermuda

Valaris Announces Contract Awards and Fleet Status Updates

Retrieved on: 
Thursday, December 15, 2022
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Valaris Limited (NYSE: VAL) (Valaris or the Company) announced today new contracts and contract extensions, with expected associated contract backlog to Valaris of approximately $275 million, awarded subsequent to issuing the Companys most recent fleet status report on October 31, 2022.

Key Points: 
  • Valaris Limited (NYSE: VAL) (Valaris or the Company) announced today new contracts and contract extensions, with expected associated contract backlog to Valaris of approximately $275 million, awarded subsequent to issuing the Companys most recent fleet status report on October 31, 2022.
  • 90-day contract with Kistos in the Dutch North Sea for heavy duty harsh environment jackup VALARIS 123.
  • VALARIS 123 will utilize its selective catalytic reduction (SCR) system during the contract with Kistos to significantly reduce NOx emissions from the rig.
  • 195-day contract with ONE-Dyas in the Dutch North Sea for heavy duty harsh environment jackup VALARIS 123.

Valaris Announces Contract Awards and Fleet Status Updates

Retrieved on: 
Monday, October 3, 2022
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Valaris Limited (NYSE: VAL) (Valaris or the Company) announced today new contracts and contract extensions, with associated contract backlog of $95 million, awarded subsequent to issuing the Companys most recent contract awards and fleet status update on September 1, 2022.

Key Points: 
  • Valaris Limited (NYSE: VAL) (Valaris or the Company) announced today new contracts and contract extensions, with associated contract backlog of $95 million, awarded subsequent to issuing the Companys most recent contract awards and fleet status update on September 1, 2022.
  • 292-day contract extension with Saudi Aramco for standard duty modern jackup VALARIS 76.
  • 204-day contract extension with Saudi Aramco for standard duty legacy jackup VALARIS 54.
  • 142-day contract extension with Saudi Aramco for heavy duty modern jackup VALARIS 108.

Valaris Authorizes $100 Million Share Repurchase Program

Retrieved on: 
Thursday, September 8, 2022
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Valaris Limited (NYSE: VAL) (Valaris or the Company) today announced that its Board of Directors has authorized a share repurchase program under which the Company may purchase up to $100 million of Valaris outstanding common stock.

Key Points: 
  • Valaris Limited (NYSE: VAL) (Valaris or the Company) today announced that its Board of Directors has authorized a share repurchase program under which the Company may purchase up to $100 million of Valaris outstanding common stock.
  • This share repurchase authorization provides the flexibility to opportunistically return capital to shareholders over time.
  • The Company is under no obligation to purchase any shares under the share repurchase program.
  • The share repurchase program may be discontinued at any time.

Valaris Announces Contract Awards and Fleet Status Updates

Retrieved on: 
Thursday, September 1, 2022
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Valaris Limited (NYSE: VAL) (Valaris or the Company) announced today new contracts and contract extensions, with associated contract backlog of $149 million, awarded subsequent to issuing the Companys most recent fleet status report on July 28, 2022.

Key Points: 
  • Valaris Limited (NYSE: VAL) (Valaris or the Company) announced today new contracts and contract extensions, with associated contract backlog of $149 million, awarded subsequent to issuing the Companys most recent fleet status report on July 28, 2022.
  • The contract is expected to commence in the fourth quarter 2022 and has an estimated duration of 240 days.
  • The contract extension will be in direct continuation of the existing firm program and has a contract value of over $60 million.
  • One-well contract with an undisclosed operator offshore Australia for heavy duty modern jackup VALARIS 107.

Valaris Rated No. 1 Offshore Driller in Independent Customer Satisfaction Survey

Retrieved on: 
Monday, August 29, 2022
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1 offshore driller in EnergyPoint Researchs 2022 customer satisfaction survey covering offshore contract drillers.

Key Points: 
  • 1 offshore driller in EnergyPoint Researchs 2022 customer satisfaction survey covering offshore contract drillers.
  • This annual benchmark survey is the industry standard for independent customer satisfaction ratings and rankings of global contract drillers.
  • President and Chief Executive Officer Anton Dibowitz said, We are pleased to be recognized by our customers as the leading offshore driller in total satisfaction.
  • Valaris maintains an unwavering commitment to safety, operational excellence, and customer satisfaction, with a focus on technology and innovation.

Valaris Announces New Chief Financial Officer

Retrieved on: 
Wednesday, August 3, 2022
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Valaris Limited (NYSE: VAL) (Valaris or the Company) today announced that Chris Weber has commenced his role as Senior Vice President and Chief Financial Officer, having been appointed to the role in late May.

Key Points: 
  • Valaris Limited (NYSE: VAL) (Valaris or the Company) today announced that Chris Weber has commenced his role as Senior Vice President and Chief Financial Officer, having been appointed to the role in late May.
  • Chris Weber previously served as Chief Financial Officer of LUFKIN Industries, the leading global provider of rod lift optimization solutions, products, technologies and services to the oil and gas industry.
  • Mr. Weber has also served as Chief Financial Officer of Abaco Drilling Technologies, Halliburton and Parker Drilling Company, and also held senior finance roles at Valaris predecessor companies, Ensco and Pride International.
  • President and Chief Executive Officer Anton Dibowitz said, I am pleased to welcome Chris to the Valaris Executive Management Committee, and I look forward to working with him as we continue to build on the positive momentum we are seeing in our business.

Valaris Announces Contract Awards and Fleet Status Updates

Retrieved on: 
Tuesday, July 5, 2022
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Valaris Limited (NYSE: VAL) (Valaris or the Company) announced today new contracts and contract extensions, with associated contract backlog of $466 million, awarded subsequent to issuing the Companys most recent fleet status report on May 2, 2022.

Key Points: 
  • Valaris Limited (NYSE: VAL) (Valaris or the Company) announced today new contracts and contract extensions, with associated contract backlog of $466 million, awarded subsequent to issuing the Companys most recent fleet status report on May 2, 2022.
  • Contract extension with TotalEnergies EP Brasil offshore Brazil for drillship VALARIS DS-15.
  • The contract is expected to commence in April 2023 and has a total contract value of approximately $159 million.
  • Four-well contract with an undisclosed operator in the U.S. Gulf of Mexico for standard duty modern jackup VALARIS 144.

Valaris Announces Contract Awards

Retrieved on: 
Tuesday, January 4, 2022
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Valaris Limited (NYSE: VAL) announced today that it has been awarded the following new contracts:

Key Points: 
  • Valaris Limited (NYSE: VAL) announced today that it has been awarded the following new contracts:
    One-well contract with Kosmos Energy in the U.S. Gulf of Mexico for semisubmersible VALARIS DPS-5.
  • One-well contract with Western Gas offshore Australia for semisubmersible VALARIS MS-1.
  • Six-well plug and abandonment contract with Centrica Storage in the UK North Sea for VALARIS Norway, a heavy duty ultra-harsh environment jackup.
  • One-well contract with an undisclosed operator in the U.S. Gulf of Mexico for VALARIS 144, a standard-duty modern jackup.

Valaris Announces Jackup Contract Awards

Retrieved on: 
Monday, January 3, 2022
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Valaris Limited (NYSE: VAL) announced today that it has been awarded new bareboat charter agreements with ARO Drilling for several jackups.

Key Points: 
  • Valaris Limited (NYSE: VAL) announced today that it has been awarded new bareboat charter agreements with ARO Drilling for several jackups.
  • Heavy-duty harsh environment jackup VALARIS 250, heavy-duty modern jackup VALARIS 116 and standard-duty modern jackups VALARIS 143 and 146 will each commence three-year extensions to their bareboat charter agreements upon completion of their existing agreements with ARO Drilling in December 2021.
  • Valaris Limited (NYSE: VAL) is the industry leader in offshore drilling services across all water depths and geographies.
  • Valaris maintains an unwavering commitment to safety, operational excellence, and customer satisfaction, with a focus on technology and innovation.

Valaris Announces Support Agreement with The Seatankers Group

Retrieved on: 
Thursday, December 9, 2021
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Anton Dibowitz, President and Chief Executive Officer of Valaris, commented: Valaris welcomes the interest and investment from The Seatankers Group, who have extensive offshore drilling knowledge and experience.

Key Points: 
  • Anton Dibowitz, President and Chief Executive Officer of Valaris, commented: Valaris welcomes the interest and investment from The Seatankers Group, who have extensive offshore drilling knowledge and experience.
  • We appreciate the confidence expressed in the Valaris management team and Board of Directors, and the recognition of Valaris compelling value proposition.
  • Further to that, Valaris has entered into a support agreement with Famatown, granting Board observer rights to a Famatown designee upon the satisfaction of certain conditions specified in the support agreement.
  • The support agreement also provides Famatown with the potential to designate a member of the Valaris Board should Famatown increase its ownership of Valaris shares in an amount that the Board deems sufficient.