Valaris JU-147

[escveritas]

15 Dec 2022

Valaris has announced the award of Contracts for ARO Drilling comprising a three-year contract extension offshore Saudi Arabia for standard duty modern jackup VALARIS 147. The extension period is expected to commence in December 2022 in direct continuation of the existing contract. In accordance with the terms of our shareholder agreement, Valaris will bareboat charter VALARIS 147 to ARO. The expected revenue from such bareboat charter is included in the $275 million of additional Valaris backlog discussed above.