Valaris Secures $600 Million in New Contracts and Extensions

Valaris secured new contracts and extensions across its fleet, adding approximately $600 million to its contracted revenue backlog. Awards include a two-well Petronas exploration contract in Suriname for the Valaris DS-18, a one-well BP extension for the DS-12, and a three-year BP service contract in the U.S. Gulf worth about $290 million. The company also won jackup contracts for the Valaris 107 and 122 and three-year Saudi Aramco extensions for five ARO-owned rigs.