Valaris wins about $220 million in new drilling contracts, extensions
VAL•Valaris reported about $220 million in new contract backlog from recent awards and extensions, including a two-well PETRONAS Suriname job and jackup work offshore Australia.
1. Contract awards
Drillship Valaris DS-18 won a two-well PETRONAS exploration job in Suriname, starting in the fourth quarter of 2026 and lasting up to seven months. Jackup awards included Valaris 107 offshore Australia, adding about $50 million of backlog for roughly 300 days. North Sea work included a $41.5 million plug-and-abandonment fleet award with a start window through December 2030. The fleet update also noted the recycling sale of semisubmersible Valaris MS-1 and jackup Valaris 111 in September 2026.
