Valaris Announces Contract Awards and Fleet Status Updates
05 Julho 2022 - 9:30AM
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.
- 540-day contract with Equinor offshore Brazil for drillship
VALARIS DS-17. The rig will be reactivated for this contract, which
is expected to commence in mid-2023. The total contract value is
approximately $327 million, including an upfront payment totaling
approximately $86 million for mobilization costs, a contribution
towards reactivation costs and capital upgrades. The remaining
contract value relates to the operating day rate and additional
services, including managed pressure drilling (MPD), remote
operating vehicle (ROV), casing running, slop treatment and
cuttings handling.
- Contract extension with TotalEnergies EP Brasil offshore Brazil
for drillship VALARIS DS-15. The option is in direct continuation
of the current firm program.
- 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.
- Four-year contract with Brunei Shell Petroleum Sdn. Bhd.
offshore Brunei for heavy duty modern jackup VALARIS 115. The
contract is expected to commence in April 2023 and has a total
contract value of approximately $159 million.
- One-well contract extension with Shell in the UK North Sea for
heavy duty harsh environment jackup VALARIS 122. The one-well
contract extension has an estimated duration of 150 days and will
be in direct continuation of the existing firm program.
- Four-well contract with an undisclosed operator in the U.S.
Gulf of Mexico for standard duty modern jackup VALARIS 144. The
contracted work is expected to take place during the third quarter
2022 with an estimated duration of 60 days and an estimated
contract value of approximately $5 million.
- 90-day contract with Cantium in the U.S. Gulf of Mexico for
standard duty modern jackup VALARIS 144. The contract is expected
to commence in the fourth quarter 2022. The operating rate is
$80,000 per day.
- One-well contract with GB Energy offshore Australia for heavy
duty modern jackup VALARIS 107. The contract is expected to
commence either late in the fourth quarter 2022 or early in the
first quarter 2023 with an estimated duration of 20 days. The
operating rate is $118,000 per day.
- VALARIS 36 was sold to another drilling contractor with
restricted use provisions for $9 million.
President and Chief Executive Officer Anton Dibowitz said, “We
continue to see a constructive outlook for the offshore drilling
industry as evidenced by these recent contract awards for both
floaters and jackups across several geographies.”
Dibowitz added, “We are particularly pleased to have been
awarded another contract for one of our preservation stacked
drillships, VALARIS DS-17, and look forward to partnering with
Equinor on their flagship Bacalhau project in Brazil. We expect
Brazil to be a significant growth market for high-specification
floaters over the next several years and we are well-positioned to
benefit by now adding a third rig to this strategic basin.”
Dibowitz concluded, “We have demonstrated our ability to
successfully contract and reactivate stacked rigs while continuing
to deliver the strong safety and operating performance that our
customers have come to expect from us. We have now won contracts
for five stacked floaters since the middle of last year, with three
already on rate and the fourth expected to commence work soon, and
we retain additional operating leverage to the improving market
with eleven high-quality stacked rigs, including three uncontracted
drillships, and options on two additional newbuild drillships.”
About Valaris Limited
Valaris Limited (NYSE: VAL) is the industry leader in offshore
drilling services across all water depths and geographies.
Operating a high-quality rig fleet of ultra-deepwater drillships,
versatile semisubmersibles and modern shallow-water jackups,
Valaris has experience operating in nearly every major offshore
basin. Valaris maintains an unwavering commitment to safety,
operational excellence, and customer satisfaction, with a focus on
technology and innovation. Valaris Limited is a Bermuda exempted
company (Bermuda No. 56245). To learn more, visit our website at
www.valaris.com.
Cautionary Statements
Statements contained in this press release that are not
historical facts are forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended.
Forward-looking statements include words or phrases such as
"anticipate," "believe," "estimate," "expect," "intend," “likely,”
"plan," "project," "could," "may," "might," “should,” “will” and
similar words. The forward-looking statements contained in this
press release are subject to numerous risks, uncertainties and
assumptions that may cause actual results to vary materially from
those indicated, including the COVID-19 outbreak and global
pandemic and the related public health measures implemented by
governments worldwide; the cancellation, suspension, renegotiation
or termination of drilling contracts and programs, including
drilling contracts which grant the customer termination rights if
final investment decision (FID) is not received with respect to
projects for which the drilling rig is contracted; oil and natural
gas price volatility, customer demand for drilling rigs; downtime
and other risks associated with offshore rig operations; severe
weather or hurricanes; changes in worldwide rig supply, competition
and technology; risks inherent to shipyard rig reactivation,
upgrade, repair or maintenance; our ability to enter into, and the
terms of, future drilling contracts; suitability of rigs for future
contracts; governmental regulatory, legislative and permitting
requirements affecting drilling operations; our ability to obtain
financing, fund capital expenditures and pursue other business
opportunities; the effects of our emergence from bankruptcy on the
Company's business, relationships, comparability of our financial
results and ability to access financing sources; actions taken by
regulatory authorities or other third parties, including related to
the COVID-19 global pandemic; increased scrutiny of Environmental,
Social and Governance (“ESG”) practices and reporting
responsibilities; changes in customer strategy; future levels of
offshore drilling activity; governmental action, civil unrest and
political and economic uncertainties; terrorism, piracy and
military action; environmental or other liabilities, risks or
losses; debt agreement restrictions that may limit our liquidity
and flexibility; failure to satisfy our debt obligations; and
cybersecurity risks and threats. In addition to the numerous
factors described above, you should also carefully read and
consider “Item 1A. Risk Factors” in Part I and “Item 7.
Management’s Discussion and Analysis of Financial Condition and
Results of Operations” in Part II of our most recent annual report
on Form 10-K, which is available on the Securities and Exchange
Commission’s website at www.sec.gov or on the Investor Relations
section of our website at www.valaris.com. Each forward-looking
statement speaks only as of the date of the particular statement
and we undertake no obligation to update or revise any
forward-looking statements, except as required by law.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220704005432/en/
Tim Richardson Director - Investor Relations +1-713-979-4619
Valaris (NYSE:VAL)
Gráfico Histórico do Ativo
De Abr 2024 até Mai 2024
Valaris (NYSE:VAL)
Gráfico Histórico do Ativo
De Mai 2023 até Mai 2024