Valaris announces several new contract awards

Valaris has announced new contracts and contract extensions, with associated revenue backlog of $84 million, awarded subsequent to filing the company’s most recent fleet status report on 25 July 2019.

• VALARIS 8505 (ENSCO 8505) contract with Eni offshore Mexico extended by three wells, with an estimated duration of 225 days from February 2020 to September 2020;
• VALARIS JU-290 (Rowan Viking) awarded a contract to provide accommodation services with Repsol offshore Norway that is expected to commence in September 2019, with an estimated duration of 130 days;
• VALARIS JU-248 (Rowan Gorilla VI) contract with Shell offshore Trinidad extended by one month from September 2019 to October 2019;
• VALARIS JU-247 (Rowan Gorilla V) contract with Total in the North Sea extended by eight months from March 2020 to November 2020;
• VALARIS JU-117 (Ralph Coffman) contract with an undisclosed operator offshore Trinidad extended by two wells, with an estimated duration of 60 days from December 2019 to February 2020; and
• VALARIS JU-87 (ENSCO 87) awarded a one-well contract with McMoRan Oil & Gas in the US Gulf of Mexico that is expected to commence in August 2019, with an estimated duration of 30 days.