Valaris sells VALARIS 247 jackup to BW Energy for $108 million

Valaris Limited agreed to sell jackup VALARIS 247 to BW Energy for cash proceeds of approximately $108 million. This sale is expected to close in Q2 2025, subject to customary closing conditions. As part of the sales agreement, BWE will be restricted from using the rig outside of BWE-owned or affiliated properties for the rig’s expected remaining useful life.

“We are pleased to announce this highly accretive, opportunistic transaction to sell VALARIS 247, a 27-year-old jackup currently working offshore Australia,” said President and CEO Anton Dibowitz. “Upon closing, the sale proceeds will provide us with additional financial flexibility, including the return of capital to shareholders.”