HAMILTON, Bermuda — Valaris has taken delivery of the newbuild drillships VALARIS DS-13 and VALARIS DS-14 for a combined purchase price of about $337 million.
President and CEO Anton Dibowitz claimed that these were the highest specification drillships remaining at South Korean shipyards. The company will now have a 13-strong drillship fleet.
“Following the successful contracting of six of our stacked drillships since mid-2021, the purchase of VALARIS DS-13 and VALARIS DS-14 increases our operating leverage to the attractive ultradeepwater floater market," Dibowitz said. “Based on our positive market outlook, growing future demand and strong customer interest in these rigs, we believe that the purchase of these high specification drillships at compelling prices will generate attractive returns.”
The drillships will head west from South Korea to Las Palmas, the Canary Islands, where they will remain stacked until Valaris has secured contracts.
In addition, the company anticipates 2024 capex of about $35 million related mainly to mobilization costs.
12.21.2023
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Painting by Sneha Prateek; Courtesy Valaris Ltd. LinkedIn
