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Valaris has secured new contracts or extensions for its rig fleet with a combined value of about $1 billion, excluding mobilization charges.
The drillship VALARIS DS-10 is set to start a $352 million assignment offshore West Africa by the third quarter, with options for two one-year extensions. An extra sum will be paid if the client requests managed pressure drilling services.
Exxon Mobil has exercised a six-month priced option for the drillship VALARIS DS-9, which will take effect next January in direct continuation of the existing firm program.
Four Valaris jackups leased to ARO Drilling have gained extensions to their bareboat charter agreements. The VALARIS 116, 140, 146 and 250 start this month, while the extension for VALARIS 141 begins in August.
All are conducting drilling operations offshore Saudi Arabia.
However, VALARIS 116 and 250 are set to be taken out of service at zero rate for six months between October and March 2026 for special periodic surveys and equipment recertifications.
Offshore Trinidad, the jackup VALARIS 117 has a new 545-day contract with an unnamed client that will start in in third-quarter 2026, including a 185-day priced option.
In the North Sea regions, VALARIS 248 will embark on a new 730-day contract in November.
Finally, Esso Australia has taken up a 180-day priced option for the jackup VALARIS 107, with work due to begin in November in direct continuation of the current program.
Valaris has sold the semisubs VALARIS DPS-3, DPS-5 and DPS-6 for recycling for a total of about $10 million.
