Business
Valaris Announces Two-Year Contract Award for Drillship VALARIS DS-10
HAMILTON, Bermuda, March 31, 2025--Valaris Announces Two-Year Contract Award for Drillship VALARIS DS-10
About this update from Valaris Limited
[{"type":"image","alt":"","displaySize":"","headline":null,"caption":"","credit":null,"className":"","disableSlideshowImg":false,"size":{"original":{"width":456,"height":480,"url":"https://media.zenfs.com/en/business-wire.com/2fea16d92fb4886ab7e975f753e2d1c1"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/pj492Ez.qMFFvuJqbG8k5w--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTc0MjtjZj13ZWJw/https://media.zenfs.com/en/business-wire.com/2fea16d92fb4886ab7e975f753e2d1c1","width":456,"height":480}},"lazy":false},{"type":"text","content":"HAMILTON, Bermuda, March 31, 2025--(BUSINESS WIRE)--Valaris Limited (NYSE: VAL) ("Valaris" or the "Company") announced today that it has been awarded a two-year contract offshore West Africa for drillship VALARIS DS-10 that is expected to commence late in the second quarter or in the third quarter 2026. The total contract value for the firm term is $352 million. The total contract value does not include the provision of additional services. The contract includes two unpriced options, each with a duration of one year.","length":542,"tagName":"p"},{"type":"text","content":"President and Chief Executive Officer Anton Dibowitz said, "This contract award is a testament to the safety and operational performance of VALARIS DS-10 and its crews, which have an excellent track record of successfully executing clients’ well programs offshore West Africa. This contract increases our backlog by approximately $350 million and supports our future earnings and cash flow, and we remain focused on securing additional attractive long-term contracts for our high-specification assets."","length":512,"tagName":"p"},{"type":"text","content":"About Valaris Limited","length":21,"tagName":"p"},{"type":"text","content":"Valaris Limited (NYSE: VAL) is the industry leader in offshore drilling services across all water depths and geographies. Operating a high-quality rig fleet of ultra-deepwater drillships, versatile semisubmersibles and modern shallow-water jackups, Valaris has experience operating in nearly every major offshore basin. Valaris maintains an unwavering commitment to safety, operational excellence, and customer satisfaction, with a focus on technology and innovation. Valaris Limited is a Bermuda exempted company (Bermuda No. 56245). To learn more, visit our website at www.valaris.com.","length":587,"tagName":"p"},{"typ...