Offshore drilling contractor Valaris has seen a lot of its drilling contracts terminated and day charges slashed as oil and gasoline operators want to scale back prices by cancelling or delaying drilling actions on account of difficult market scenario.

One of Valaris’ jack-up rigs; Author: SP Mac

In its newest fleet standing report printed on Wednesday, Valaris additionally stated it had received a few new contracts for its floaters and new gigs for its jack-up rigs.

Floaters

The semi-submersible rig Valaris MS-1 has been awarded a three-well contract with Santos offshore Australia that’s anticipated to start out within the first quarter of 2021.

The contract has an estimated length of 155 days and it additionally features a six-well possibility.

The Valaris 8505 semi-sub has been awarded a one-well contract with Lukoil in Mexico that’s anticipated to start out in mid-November, with an estimated length of 80 days.

The contract with Lukoil additionally has a one-well possibility.

Jack-ups

Valaris JU-118 (Joe Douglas) has been awarded a three-well contract with Fieldwood offshore Mexico that began in mid-March, with an estimated length of 425 days.

Valaris JU-144 (EXL II) has received a two-well contract with Fieldwood offshore Mexico that’s anticipated to start out in May, with an estimated length of 200 days.

The contract beforehand introduced with Eni offshore Mexico, which was anticipated to start out in September 2020, was transferred to Valaris JU-102.

Valaris JU-87 has received a one-well contract with Cox within the U.S. Gulf of Mexico, with an estimated length of 30 days from March 2020 to April 2020, after which prolonged to May 2020 for an additional properly with an estimated length of 30 days.

Early terminations

The contract for the Valaris DS-Eight drillship, which was scheduled to be accomplished in November 2020, was terminated early and resulted in late March 2020. The rig labored for Total offshore Angola.

The contract with Chevron for the jack-up rig Valaris JU-109, which was scheduled to be accomplished in July 2021, was additionally terminated early and resulted in mid-April 2020. The rig labored in Angola.

The contract for the drillship Valaris DS-7 for operations offshore Ghana from April 2020 to mid-May 2020 has been terminated.

The Valaris 5004 semi-submersible operated on a lowered day price from mid-March 2020 to mid-April 2020, at which level the contract was terminated. The rig operated for Mellitah within the Mediterranean.

The jack-up rig Valaris JU-249 (Gorilla VII) ended its contract with Chrysaor in early April 2020.

The rig obtained one other contract with Neptune within the UK, which was transferred from Valaris JU-248. The contract is for 4 wells, plus two one-well choices. It is scheduled to start out in August 2020 and finish in January 2022.

The drillship Valaris DS-16 (Resolute) is anticipated to finish its contract with Fieldwood within the U.S. Gulf of Mexico in late June 2020.

The Valaris 8503 semi-sub is anticipated to finish its contract with Kosmos within the U.S. Gulf of Mexico in late April 2020.

The Valaris JU-100 jack-up is anticipated to finish its contract with DNO in late April 2020.

The drillship Valaris DS-10 is anticipated to function for Shell in Nigeria on a lowered day price from late April 2020 to mid-July 2020. The rig is then anticipated to return to full day price till the tip of the contract in March 2021.

The jack-up rig Valaris JU-120 is anticipated to function for Chrysaor within the UK on a lowered day price from late April 2020 to late September 2020. The rig is then anticipated to return to full day price till the tip of the contract in December 2022.

The Valaris JU-92 jack-up is anticipated to function for Chrysaor within the UK on a lowered day price from mid-May 2020 to late September 2020. It is then anticipated to return to full day price till the tip of the contract in December 2022.

The Valaris JU-72 is anticipated to function on a lowered day price for Eni within the UK from April 2020 to July 2020. After that, the rig is anticipated to return to full day price till the tip of the…

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