Valaris JU-148

[escveritas]

15 Dec 2022

Valaris has announced the award for ARO Drilling comprising of a three-year contract extension offshore Saudi Arabia for standard duty modern jackup VALARIS 148. The extension period is expected to commence in February 2023 in direct continuation of the existing contract. In accordance with the terms of our shareholder agreement, Valaris will bareboat charter VALARIS 148 to ARO. The expected revenue from such bareboat charter is included in the $275 million of additional Valaris backlog discussed above.