Ex Ensco-Rowan, Valaris, introduced as much as seven new contracts and contract extensions, with related income backlog of roughly $245 million.
• VALARIS DS-16 (Resolute) contract with Fieldwood within the U.S. Gulf of Mexico prolonged by roughly 180 days from March 2020 to September 2020 because of the train of a 90-day choice, which is able to start following the tip of the contract time period upon the completion of the properly in progress
• VALARIS DS-7 contract with Burullus offshore Egypt prolonged by roughly 165 days from October 2019 to mid-March 2020 because of the train of three one-well choices
• VALARIS DS-Four awarded a one-well contract with Amni offshore Ghana that’s anticipated to begin in early March 2020, with an estimated period of 50 days
• VALARIS DPS-1 contract with Woodside offshore Australia prolonged by seven wells, with an estimated period of 420 days from July 2020 to September 2021
• VALARIS JU-291 (Stavanger) contract with Equinor offshore Norway prolonged by two wells, with an estimated period of 208 days from January 2020 to August 2020
• VALARIS JU-248 (Gorilla VI) awarded a four-well contract with Neptune Energy within the North Sea that’s anticipated to begin in third quarter 2020, with an estimated period of 492 days; moreover, a beforehand disclosed contract with Premier Oil within the North Sea has been transferred to VALARIS JU-248 from VALARIS JU-121
• VALARIS JU-115 contract with Mubadala Petroleum offshore Thailand prolonged by two months from January 2020 to March 2020
Valaris, the biggest offshore drilling and properly drilling firm on the earth by the variety of offshore models, owns 82 rigs, together with 54 offshore jackup rigs, 16 drillships, and 12 semi-submersibles. The firm is included in London with operational headquarters in Houston, TX.
(Source: Valaris – Image: Ensco DS-7/Gwenole De Kermenguy)
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