Valaris DS-17

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escveritas
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Valaris DS-17

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VALARIS DS-17 is in the process of being preservation stacked

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22 April 2020

LONDON – Valaris plc has issued an update on its offshore drilling rig fleet.

The drilling contractor reported the VALARIS DS-4, VALARIS DS-11, VALARIS DS-17 (Reliance), and VALARIS 8504 are in the process of being preservation stacked.

Cox has awarded the jackup VALARIS JU-87 a one-well extension in the US Gulf of Mexico.

Amni has terminated the contract for the drillship VALARIS DS-7 offshore Ghana. The contract was expected to run from April to mid-May 2020.

In the Mediterranean, the semisubmersible VALARIS 5004 operated on a reduced from mid-March to mid-April 2020, at which point Mellitah terminated the contract.

Earlier this month, Chrysaor ended the contract for the jackup VALARIS JU-249 in the UK. In August, the jackup is expected to start a four-well contract with Neptune in the UK. The contract was transferred from the VALARIS JU-248.

In late June 2020, Fieldwood is expected to end its contract with the drillship VALARIS DS-16 (Resolute) in the US Gulf of Mexico.

In late April 2020, Kosmos Energy is expected to end its contract with the semi VALARIS 8503 in the US Gulf of Mexico.

In late April 2020, DNO is expected to end its contract with the VALARIS JU-100 in the UK.

From late April to mid-July 2020, the VALARIS DS-10 is expected to operate on a reduced day rate with Shell offshore Nigeria. Then it is expected to return to the full day rate until the end of the contract in March 2021.

From late April 2020 to late September 2020, the VALARIS JU-120 is expected to operate on a reduced day rate with Chrysaor in the UK. Then it is expected to return to the full day rate until end of the contract in December 2022.

From mid-May 2020 to late September 2020, the VALARIS JU-92 is expected to operate on a reduced day rate with Chrysaor in the UK. Then it is expected to return to the full day rate until end of the contract in December 2022.

From April 2020 to July 2020, the VALARIS JU-72 is expected to operate on a reduced day rate with Eni in the UK. Then it is expected to return to the full day rate until end of the contract in January 2023.
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Re: Valaris DS-17

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HAMILTON, Bermuda--(BUSINESS WIRE)-- Valaris Limited (NYSE: VAL) (“Valaris” or the “Company”) announced today new contracts and contract extensions, with associated contract backlog of $466 million, awarded subsequent to issuing the Company’s most recent fleet status report on May 2, 2022. Contract backlog excludes lump sum payments such as mobilization fees and capital reimbursements.

540-day contract with Equinor offshore Brazil for drillship VALARIS DS-17. The rig will be reactivated for this contract, which is expected to commence in mid-2023. The total contract value is approximately $327 million, including an upfront payment totaling approximately $86 million for mobilization costs, a contribution towards reactivation costs and capital upgrades. The remaining contract value relates to the operating day rate and additional services, including managed pressure drilling (MPD), remote operating vehicle (ROV), casing running, slop treatment and cuttings handling.
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Re: Valaris DS-17

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Extending drilling capacity in Brazil with Valaris DS-17



On behalf of the Bacalhau licence partners, Equinor Brazil has awarded Valaris, represented by Ensco UK Drilling Limited and Ensco do Brasil Petróleo e Gás LTDA, a 540-day drilling contract scheduled to start in 2023.

The Valaris DS-17 drillship has been tasked to drill an appraisal well, plug an old exploration well and conduct additional drilling scope in Brazil.

“Brazil is one of Equinor’s core areas, and Bacalhau is one of our flagship projects internationally. We are pleased to land an agreement with the Valaris, on deliveries from an advanced drillship for this important field. We look forward to working with one of the world’s largest rig contractors and we have high expectations to their deliveries on safety and efficiency,” says Geir Tungesvik, executive vice president for Projects, Drilling and Procurement.

Drilling services and other additional services such as remotely operated vehicle (ROV), managed pressure drilling (MPD), casing running, slop treatment and cuttings handling are included in the contract. A fuel reduction incentive has also been agreed on.

“The second rig in Bacalhau will expand our drilling capacity in Brazil and will further enhance our understanding of Bacalhau North through an ADR (Reservoir Data Acquisition) well. The decision to bring in DS-17 demonstrates our commitment to create value in Brazil, where we have a long-term presence perspective,” says Veronica Rezende Coelho, country manager in Brazil.

DS-17 is an ultra-deepwater drillship, capable of operating in water depths of more than 3600 metres.

Partners in Bacalhau: Equinor 40% (operator), ExxonMobil 40%, Petrogal Brasil 20% and Pré-sal Petróleo SA (production sharing agreement manager, not an investor).
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