Valaris announces new contracts, extensions with associated backlog of $1.14B

Valaris Limited announced new contracts and contract extensions, with associated contract backlog of approximately $1.14B, awarded subsequent to issuing the company’s most recent fleet status report on November 1, 2023. Contract backlog excludes lump sum payments such as mobilization fees and capital reimbursements. President and Chief Executive Officer Anton Dibowitz said, “We are delighted to announce these contract awards and extensions, which add well over $1 billion of contract backlog at attractive economics, providing further evidence of the positive outlook for Valaris. These awards include two multi-year drillship contracts and several jackup contracts across the North Sea, Trinidad, and Australia.”