Houston-based offshore drilling contractor, Valaris Limited (NYSE: VAL) confirmed that ARO Drilling, the company’s 50/50 joint venture with oil giant Aramco, has successfully secured financing for its upcoming newbuild jackups, namely Kingdom 1 and 2. Financing Breakdown and Utilization The commendable financing, amounting to $359 million, has been extended as a term loan facilitated by […]
Valaris Limited (NYSE: VAL) has announced a significant offshore contract, valued at $364 million, for the reactivation of the drillship VALARIS DS-7 for a 12-well venture in West Africa. The contract is slated to begin in the second quarter of 2024, lasting for an estimated 850 days. Additionally, Valaris has disclosed its intention to increase […]
Valaris Limited said that Equinor has issued a termination notice for the drilling contract awarded to the VALARIS DS-11 drillship. The US-based offshore drilling contractor said that the termination will become effective at the end of this month. Valaris said that as of 2 May 2022, its total contract backlog of $2.5 billion included nearly […]
Valaris Limited, a US-based offshore drilling contractor, has bagged new bareboat charter contracts with ARO Drilling (Saudi Aramco Rowan Offshore Drilling Company) for various jackups. ARO Drilling is a joint venture between Saudi Aramco and Valaris. The company has inked contracts with Aramco for the same periods as the bareboat charter agreements. According to Valaris, […]
Valaris Limited, a Bermuda-based offshore drilling services provider, has bagged a contract for the VALARIS DS-4 drillship in Brazilian waters from Petrobras. The contract awarded by the Brazilian national oil company is for a minimum term of 548 days. According to Valaris Limited, the VALARIS DS-4 drillship is presently preservation stacked in the UK. It […]