Valaris nets GoM, Australia drilling contracts

July 6, 2023
Valaris has negotiated new contracts and contract extensions with a combined value of about $150 million.

Offshore staff

HAMILTON, Bermuda — Valaris has negotiated new contracts and contract extensions with a combined value of about $150 million.

In the US Gulf of Mexico, Occidental subsidiary Anadarko Petroleum has contracted the semisub VALARIS DPS-5 for a $22 million program that starts this month, with a minimum duration of 60 days.

The same rig will the start a nine-well P&A campaign with Apache in the same sector, due to start in September and is scheduled to last for at least 110 days.

Offshore Australia, the heavy-duty jackup VALARIS 107 has a 180-day (minimum duration) contract with an unnamed operator that should begin in first-quarter 2024 at a day rate of $150,000. In October next year, the rig will start a one-year contract for another operator in the region.

Finally, the ultra-harsh-environment jackup VALARIS 247 has a two-well contract with a major Australian operator that should last for about 100 days, starting from early to mid-2024. The day rate is $180,000 with a mobilization and demobilization fee to cover operating costs while the rig is in transit.

07.06.2023