Valaris has declared new contracts and extensions for seven jackups in a fleet status update. The estimated overall value is about $120 million.
TotalEnergies has extended a fixture in the North Sea for the VALARIS Stavanger jackup rig by 600 days, likely to take effect this summer.
bp has agreed to take the VALARIS 249 jackup for a 100-day program offshore Trinidad starting in first-quarter 2026, in continuation of the rig’s prior assignment with another operator.
Offshore Australia, the VALARIS 247 jackup should start a one-well contract with Jadestone Energy, again after finishing its current program with another operator.
bp Indonesia has taken up a two-well option for the VALARIS 106 jackup, with the 80-day program set to start in May at $95,000/d.
In addition, Valaris has negotiated short-term bareboat charter agreement extensions through the end of February for the jackups VALARIS 116, VALARIS 146 and VALARIS 250, all leased to ARO Drilling. Talks continue between the two parties and Saudi Aramco on longer-term contract extensions for the rigs.
Valaris has decided to retire three semisubmersible units from its fleet. VALARIS DPS-5 has been idle since third-quarter 2024, while VALARIS DPS-3 and VALARIS DPS-6 have both been stacked for years. The company expects all three semisubs to be repurposed for alternative use or scrapped.
