Valaris DPS-1

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HAMILTON, Bermuda--(BUSINESS WIRE)-- Valaris Limited (NYSE: VAL) announced today that it has been awarded a 16-well contract with Woodside offshore Australia for semisubmersible, VALARIS DPS-1. The contract is expected to commence late in the first quarter or early in the second quarter of 2022 with an estimated duration of 300 days.

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Valaris has successfully reactivated four deepwater floaters just over a year after emerging from Chapter 11. Kudos to the Valaris crews and support teams that played essential roles in these reactivation projects!

“The VALARIS DPS-1, DS-4, DS-9, and DS-16 have all commenced operations for their respective customers. The leadership, collaboration, and commitment displayed by Valaris personnel at all levels was exemplary and allowed us to move forward safely and efficiently. This has set the bar high for the organization as we venture into more rig reactivations,” said Deepak Bisht, Sr. Director of Technical Support.

The reactivations started in Q4 2021 and included semisubmersible VALARIS DPS-1 for Woodside Energy in Australia and drillships VALARIS DS-4 for Petrobras in Brazil, VALARIS DS-9 for ExxonMobil in Angola and VALARIS DS-16 for Oxy in the U.S. Gulf of Mexico.

Follow Valaris to stay up to date with our rig reactivations and other operations activities.

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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.

• Two-well contract extension with Woodside offshore Australia for semisubmersible VALARIS DPS-1. The two-well extension has an estimated duration of 38 days and will be in direct continuation of the existing firm program for Woodside’s Enfield plug and abandonment campaign (18 wells in total).

• One-well contract extension with Woodside offshore Australia for semisubmersible VALARIS DPS-1. The one-well extension has an estimated duration of 60 days and will be executed within Woodside’s Scarborough development campaign sequence.