Valaris signs four global drilling contracts

USA

DALLAS, September 5, 2022 – Valaris has signed four contracts worth USD 149 million for use of its jackup rigs in Mexico, Australia and the UK, the US drilling contractor announced on Thursday.

The company’s Valaris DPS-6 semi-submersible rig will mobilised to drill three wells for Eni offshore Mexico. The mobilisation fee is USD 1.2 million, in addition to an operating day rate of USD 313,500. Work is expected to begin in Q4 2022 for 240 days.

A USD 60-million contract was also signed with Shell to extend the Valaris 122 heavy-duty rig’s operations in the UK’s North Sea for four wells.

Additionally, Norwegian IOC DNO is extending the contract for the Valaris 247 harsh-environment jackup rig for a one-well operation in the UK’s North Sea. Operations are expected to take 45 days.

The fourth contract will see the Valaris 107 rig deployed for a one-well operation with an undisclosed operator offshore Australia. Work is expected to begin in Q3 2023 for 60 days with an operating day rate of USD 120,000.

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