Valaris has announced new contracts and contract extensions with an associated contract backlog of $181 million. Among them, BP awarded the company two-year contract extensions in the US Gulf of Mexico (GOM) for the managed rigs Mad Dog and Thunder Horse. The contract extensions were effective 27 January. Valaris also received a one-well contract extension from TotalEnergies for the drillship VALARIS DS-15 offshore Brazil. The option well is in direct continuation of the current firm program and has an estimated duration of 100 days.
ARO Drilling awarded a three-year contract with Saudi Aramco for the standard-duty modern jackup VALARIS 140. This contract relates to the previously disclosed three-year bareboat charter agreement between Valaris and ARO Drilling.
An eight-well contract for the VALARIS DS-11 in the GOM was novated from TotalEnergies to Equinor. No material changes to the contract resulted from eh novation.
VALARIS 67 has been sold and retired from the offshore drilling fleet.