Valaris jackup secures 21-well contract in the Gulf of Mexico

Valaris plc has received new contracts and contract extensions, with associated revenue backlog of about $285 million.

Exxon has awarded the VALARIS JU-87 a 21-well contract in the US Gulf of Mexico.
Exxon has awarded the VALARIS JU-87 a 21-well contract in the US Gulf of Mexico.
(Courtesy Valaris)

Offshore staff

LONDONValaris plc has received new contracts and contract extensions, with associated revenue backlog of about $285 million.

EnVen has exercised a one-well priced option for the VALARIS DS-18 (Relentless) in the US Gulf of Mexico. The estimated duration of 45 days is from February 2020 to March 2020. The drillship has also been awarded a two-well contract with an undisclosed operator in the same region that is expected to start in June 2020, with an estimated duration of 180 days.

Eni has awarded the VALARIS DS-15 (Renaissance) a one-well contract in the US Gulf of Mexico that is expected to start this month, with an estimated duration of 30 days. The drillship has also been awarded a two-well contract from CNOOC offshore Mexico that is expected to begin in April 2020, with an estimated duration of 160 days.

ConocoPhillips has exercised a six-well priced option for the VALARIS JU-292 (Norway) offshore Norway. The estimated duration of 300 days is from early May 2020 to late February 2021.

Offshore Norway, Repsol has extended the VALARIS JU-290’s (Viking) contract to provide accommodation services by about 50 days from early February 2020 to late March 2020.

In the North Sea, Chrysaor has awarded the VALARIS JU-249 (Gorilla VII) a one-year contract extension.

Eni has awarded the VALARIS JU-144 (EXL II) a 12-well contract offshore Mexico that is expected to start in April 2020, with an estimated duration of two years.

 Shell has exercised a one-well priced option for the VALARIS JU-122 in the North Sea. The estimated duration of 150 days is from November 2020 to April 2021.

An undisclosed operator has exercised a two-well priced option for the VALARIS JU-117 (Ralph Coffman) offshore Trinidad. The estimated duration of 60 days is from February 2020 to April 2020.

Mubadala Petroleum has exercised a four-month priced option for the VALARIS JU-115 offshore Thailand from March 2020 to July 2020.

Exxon has awarded the VALARIS JU-87 a 21-well contract in the US Gulf of Mexico that is expected to start in November 2019, with an estimated duration of 295 days.

11/26/2019

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