Valaris lines up four rig extensions, reverses VALARIS 111 recycling sale
Valaris and its ARO Drilling joint venture secured contract extensions with BP, Saudi Aramco, Ithaca Energy and INEOS, and Valaris reversed the recycling sale of jackup VALARIS 111, according to its 2 November fleet status report.
BP awarded a three-year service contract supporting drilling operations on the Mad Dog and Thunder Horse platforms in the US Gulf, set to begin in January 2027 in direct continuation of the existing contract.
Saudi Aramco extended five ARO-owned jackups for three years from October 2026. They are the Gilbert Rowe, SAR 201, Bob Keller, J.P. Bussell and SAR 202.
In the UK North Sea, Ithaca Energy extended jackup VALARIS Norway by about 200 days from Q2 2027, with priced options totaling 163 days.
INEOS added 158 days for jackup VALARIS 122 from July 2027, with options totaling 541 days for work in the UK and Danish North Sea.
Valaris terminated the previously announced recycling sale of VALARIS 111 and sold the jackup to another buyer for conversion to a mobile offshore production unit. Drilling Contractor reported on 7 October that VALARIS 111 and semisubmersible VALARIS MS-1 had both been sold for recycling. VALARIS MS-1 was sold for recycling. VALARIS 111 was instead sold for conversion.
