Valaris has netted new contracts and extensions to existing deals with a combined value of about $715 million, the company said in its latest fleet status report.
The overall backlog now stands at about $4.3 billion.
In the drillship segment, Equinor offshore Brazil booked the VALARIS DS-17 for an 852-day campaign that is set to start in third-quarter 2025, in direct continuation of the vessel’s current work. It includes a 672-day drilling program that should begin during the first half of 2026. Estimated value of the contract is about $498 million, including managed pressure drilling, additional services and fees for mobilization/minor rig upgrades.
All the other new awards are for jackups. Shell has reserved the VALARIS 249 to work for 365 days offshore Trinidad, starting in the first half 2026 (estimated value $66 million).
VALARIS 144 has a one-well contract for a 45-day program offshore Angola, and it is set to start in the first quarter of 2025 ahead of a previously disclosed 13-well contract with the same operator. The total value is $8.5 million.
North Oil Co. has exercised a one-year priced option ($26 million) offshore Qatar for the jackup VALARIS 110, taking effect in October 2024 in direct continuation of the rig’s current program.
In the UK North Sea, VALARIS 92 is due to start a two-year, 26-well P&A program ($75 million) early in 2025, upon completion of its current work for another operator.
ENI Energy E&P UK has taken the VALARIS Norway on a 292-day basis, with work also starting in first-quarter 2025.
