Valaris Limited Secures $220 Million in New Drilling Contracts

Valaris Limited secured approximately $220 million in new drilling contracts and extensions between August 5 and October 7, 2026. The offshore drilling contractor expanded its global operations through several key agreements, including a two-well exploration contract with PETRONAS Suriname Exploration & Production B.V. for the drillship VALARIS DS-18, which is slated to begin in the fourth quarter of 2026.

In other regions, the company obtained a $50 million contract for the VALARIS 107 in Australia and a $41.5 million plug and abandonment contract in the Southern North Sea. Valaris also extended a contract with INEOS for the VALARIS 122 in the Danish North Sea and a support services contract with Seatrium for offshore wind project support in the UK North Sea.

Operational adjustments included an amended contract with Eni to shift work to the VALARIS 121. As part of its fleet management, the company sold the VALARIS MS-1 and VALARIS 111 for recycling in September 2026.