0000314808false00003148082024-10-302024-10-300000314808us-gaap:CommonClassAMember2024-10-302024-10-300000314808us-gaap:WarrantMember2024-10-302024-10-30

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities and Exchange Act of 1934
Date of Report (Date of earliest event reported): October 30, 2024
Valaris Limited
(Exact name of registrant as specified in its charter)
Bermuda001-0809798-1589854
(State or other jurisdiction of
incorporation)
(Commission
File Number)
(I.R.S. Employer
Identification No.)
Claredon House, 2 Church Street
Hamilton, Bermuda, HM 11
Registrant’s telephone number, including area code: 44 (0) 20 7659 4660
Not Applicable
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:

Title of each classTicker Symbol(s)Name of each exchange on which registered
Common Shares, $0.01 par value shareVALNew York Stock Exchange
Warrants to purchase Common SharesVAL WSNew York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging Growth Company☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
☐




TABLE OF CONTENTS






INFORMATION TO BE INCLUDED IN THE REPORT


Item 7.01 Regulation FD Disclosure

The Fleet Status Report of the Company as of October 30, 2024 is furnished as Exhibit 99.1 to this report.

The information furnished in this Item 7.01 and the information attached to this Form 8-K as Exhibit 99.1 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
2

Item 9.01 Financial Statements and Exhibits
    (d) Exhibits
Exhibit No.Description
99.1
101Interactive data files pursuant to Rule 405 of Regulation S-T formatted in inline Extensible Business Reporting Language
104Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101)


3


SIGNATURE
    Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Valaris Limited
October 30, 2024/s/ CHRISTOPHER T. WEBER
Christopher T. Weber
Senior Vice President and Chief Financial Officer


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Valaris Limited
Fleet Status Report
October 30, 2024
New Contracts, Extensions and Other Updates Since Last Fleet Status Report
Contract Backlog
•Valaris has been awarded the following new contracts and contract extensions, with associated contract backlog of approximately $257 million, subsequent to issuing its most recent fleet status report on July 29, 2024. Contract backlog excludes lump sum payments such as mobilization fees and capital reimbursements.
•Contract backlog decreased to approximately $4.1 billion from approximately $4.3 billion as of July 29, 2024.
Floater Contract Awards
•Six-month priced option exercised by ExxonMobil for drillship VALARIS DS-9. The six-month option will commence in July 2025 in direct continuation of the existing firm program.
Jackup Contract Awards
•Three-year contract extension with BP offshore Trinidad for jackup VALARIS 118. The three-year extension is expected to commence in the second quarter 2025 in direct continuation of the existing firm program. The total contract value for the three-year extension period is approximately $168 million.
•300-day contract extension with Eni offshore Mexico for jackup VALARIS 117. The 300-day extension is expected to commence in mid-to-late first quarter 2025 following an out of service period to perform planned maintenance after completion of the rig’s existing program. The total contract value for the 300-day extension is $36 million. In addition, the contract extension includes a 150-day priced option.
•One-well contract for an undisclosed operator offshore Australia for jackup VALARIS 247. The contract has an estimated duration of 60 days and is expected to commence in direct continuation of the rig’s existing programs.
Other Fleet Status Updates
•The contracts between ARO and Saudi Aramco for jackups VALARIS 147 and VALARIS 148 were suspended during the third quarter 2024. Subsequently, ARO elected to terminate these suspended contracts in October 2024. Upon termination of the contracts, the bareboat charter agreements between Valaris and ARO were also terminated and the rigs were returned to Valaris.




 








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Valaris Limited
Fleet Status Report
October 30, 2024
Contract Backlog(1) (2)
($ millions)
202420252026+Total
Contracted Days(1) (2)
202420252026+
Drillships$190.0 $1,014.7 $1,085.0 $2,289.7 Drillships520 2,667 2,289 
Semisubmersibles27.7 78.3 — 106.0 Semisubmersibles126 353 — 
Floaters$217.7 $1,093.0 $1,085.0 $2,395.7 Floaters646 3,020 2,289 
HD - Harsh Environment $68.2 $341.1 $225.8 $635.1 HD - Harsh Environment546 2,418 1,339 
HD & SD - Modern37.3 270.3 277.6 585.2 HD & SD - Modern359 2,098 1,822 
SD - Legacy10.1 65.7 102.6 178.4 SD - Legacy126 717 1,110 
Jackups$115.6 $677.1 $606.0 $1,398.7 Jackups1,031 5,233 4,271 
Other(3)
$25.4 $118.8 $166.2 $310.4 
Other(3)
492 1,748 2,680 
Total$358.7 $1,888.9 $1,857.2 $4,104.8 Total2,169 10,001 9,240 
ARO Drilling(4)
Average Day Rates(1) (2)
202420252026+
Owned Rigs$63.5 $362.0 $811.4 $1,236.9 Drillships$365,000 $380,000 $474,000 
Leased Rigs37.2 100.4 206.8 344.4 Semisubmersibles220,000 222,000 — 
Total$100.7 $462.4 $1,018.2 $1,581.3 Floaters$337,000 $362,000 $474,000 
HD - Harsh Environment$125,000 $141,000 $169,000 
HD & SD - Modern104,000 129,000 152,000 
SD - Legacy80,000 92,000 92,000 
Jackups$112,000 $129,000 $142,000 
(1) Contract backlog, contracted days and average day rates as of October 30, 2024.
(2) Contract backlog and average day rates exclude certain types of non-recurring revenues such as lump sum mobilization payments. Contract backlog and contracted days include backlog and days when a rig is under suspension. Average day rates are adjusted to exclude suspension backlog and days.
(3) Other represents contract backlog and contracted days related to bareboat charter agreements and management services contracts.
(4) ARO Drilling contract backlog as of October 30, 2024.
HD = Heavy Duty; SD = Standard Duty
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Valaris Limited
Fleet Status Report
October 30, 2024
Asset Category / RigDesignYear DeliveredCustomerLocationContract Start Date
Contract End Date(1)
Day Rate(2)
Comments
Drillships     
VALARIS DS-18GustoMSC P100002015ChevronUS GOMAug 22Aug 25
Additional rate charged when MPD services provided. Expect approx. 20 days out of service for planned maintenance in 3Q25
VALARIS DS-17GustoMSC P100002014Equinor
Equinor
Equinor		Brazil / Argentina
Brazil
Brazil		Sep 23
May 25
Sep 25		Apr 25
Aug 25
Dec 27		$447,000
$497,000
Contract includes MPD and additional services

Estimated total contract value of $498 million, inclusive of MPD, additional services and fees for mobilization and minor rig upgrades. Based on estimated duration of 852 days comprised of a 180-day standby period followed by a 672-day drilling program
VALARIS DS-16

GustoMSC P100002014Occidental
US GOM
Jun 24Jun 26Additional rate charged when MPD services provided. 1-year priced option
VALARIS DS-15GustoMSC P100002014BP
TotalEnergies
TotalEnergies
Brazil
Brazil
Brazil
May 24
Sep 24
Jan 25
Sep 24
Dec 24
Sep 25
$410,000
$254,000
$400,000		Additional rate charged when MPD services provided
Additional rate charged when MPD services provided
Additional rate charged when MPD and additional services provided. Two 160-day priced options and one 120-day priced option, with increased operating day rates for each option period. Total contract value for option periods if exercised, excluding the provision of MPD and additional services, is approximately $210 million.
VALARIS DS-12
DSME 120002013BPEgyptJan 24Feb 25

Total contract value of $136 million based on initial estimated duration of 320 days
VALARIS DS-10
Samsung GF120002017SNEPCo
Nigeria
Spain
Apr 23Aug 24$231,000
Rig is being warm stacked in Las Palmas, Spain
VALARIS DS-9Samsung GF120002015ExxonMobil
Angola / Egypt
Jul 22
Jan 26
Contract includes MPD services. One 6-month priced option remaining
VALARIS DS-8Samsung GF120002015PetrobrasBrazilDec 23Dec 26$428,000Plus mobilization fee of approx. $30 million. Contract includes additional services.
VALARIS DS-7Samsung 96K2013UndisclosedWest AfricaJun 24Oct 26Total contract value estimated to be $364 million based on initial estimated duration of 850 days
VALARIS DS-4Samsung 96K2010Petrobras

Petrobras		Brazil

Brazil		Jul 22

Dec 24		Sep 24

Nov 27

$450,000		Contract includes MPD and additional services. Expect approx. 60 days out of service for contract preparations in 4Q24
Plus mobilization fee of approx. $41 million. Contract includes MPD and additional services
Stacked
VALARIS DS-14

DSME 120002023Spain
VALARIS DS-13

DSME 120002023Spain
VALARIS DS-11DSME 120002013Spain
Changes: bolded rig names and underlined text signify changes in rig status from previous fleet status report
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Valaris Limited
Fleet Status Report
October 30, 2024
Asset Category / RigDesignYear DeliveredCustomerLocationContract Start Date
Contract End Date(1)
Day Rate(2)
Comments
Semisubmersibles
VALARIS DPS-5


ENSCO 8500 Series,
DP + Moored		2012Eni
Mexico
US GOM
Mar 24Jul 24$345,000
Plus $3 million mobilization fee
Rig is being warm stacked in the US GOM
VALARIS DPS-1


F&G ExD Millennium, DP2012Woodside



Australia



Jan 24Aug 25
VALARIS MS-1


F&G ExD Millennium, Moored2011Santos

Australia



Jan 24

Apr 25

Stacked
VALARIS DPS-6
ENSCO 8500 Series, DP2012US GOM
VALARIS DPS-3
ENSCO 8500 Series,
DP + Moored		2010US GOM
Changes: bolded rig names and underlined text signify changes in rig status from previous fleet status report


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Valaris Limited
Fleet Status Report
October 30, 2024
Asset Category / RigDesignYear DeliveredCustomerLocationContract Start Date
Contract End Date(1)
Day Rate(2)
Comments
Heavy Duty - Harsh Environment Jackups
VALARIS NorwayKFELS N Class2011Eni
ENI Energy E&P		UK
UK
Jan 24
May 25

Feb 25
Feb 26



VALARIS Norway substitutes for VALARIS 72 until the rig completes its current contract
Total contract value of approx. $39 million based on estimated duration of 292 days. Expect approx. 30 days out of service for planned maintenance in 2Q25
VALARIS StavangerKFELS N Class2011TotalEnergiesUKMay 24Jul 25
Total contract value of approx. $52 million, including minor rig modifications, based on initial estimated duration of 360 days. Three priced options with a total estimated duration of 520 days
VALARIS 250LT Super Gorilla XL2003Saudi AramcoSaudi ArabiaJun 18Dec 24
Leased to ARO Drilling(4).
VALARIS 249LT Super Gorilla2001Undisclosed
Perenco
Undisclosed
Shell		Trinidad
Trinidad
Trinidad
Trinidad
Jul 24
Jan 25
Mar 25
May 26
Jan 25
Mar 25
Jan 26
May 27
$125,000

$163,000



Total contract value of approx. $66 million based on estimated duration of 365 days. Three priced options with an estimated duration of 50 days each
VALARIS 248LT Super Gorilla2000ENI Energy E&P
Hibiscus		UK
UK
Aug 20
Jun 25
Apr 25
Sep 25
Expect approx. 50 days out of service for planned maintenance in 2Q25
Total contract value of $14.2 million based on estimated duration of 93 days
VALARIS 247LT Super Gorilla1998
Undisclosed

Eni
Undisclosed
Australia

Australia
Australia
Jul 24

Dec 24
Mar 25
Dec 24

Feb 25
May 25
$180,000

$180,000
Plus mobilization and demobilization fees that cover moving and operating costs while the rig is in transit from/to the UK

Expect approx. 15 days out of service for planned maintenance in 3Q25
VALARIS 123KFELS Super A2019Shell
TAQA		UK
Netherlands
Jul 24
Feb 25


Feb 25
Oct 25
$153,000
Total contract value of approx. $21 million based on initial estimated duration of 154 days
Options for up to nine wells with an estimated total duration of 150 days. Operating day rate increases to approx. $163,000 in 2026
VALARIS 122

KFELS Super A2013ShellUKSep 23Sep 25Total contract value of over $60 million based on initial estimated duration of 500 days
VALARIS 121KFELS Super A2013Shell
Shell
UK
UK
Nov 23
Nov 24
Oct 24
Dec 25
Total contract value of over $25 million based on initial estimated duration of 210 days
Total contract value of approx. $55 million based on estimated duration of 406 days. Plus two priced options. Expect approx. 30 days out of service for planned maintenance in 4Q25
VALARIS 120KFELS Super A2013Harbour Energy
Harbour Energy		UK
UK		Jul 23
Jul 25		Jul 25
Jul 28		$130,000
$166,000
Stacked
VALARIS VikingKFELS N Class2010UK
VALARIS 102KFELS MOD V-A2002US GOM
Changes: bolded rig names and underlined text signify changes in rig status from previous fleet status report
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Valaris Limited
Fleet Status Report
October 30, 2024
Asset Category / RigDesignYear DeliveredCustomerLocationContract Start Date
Contract End Date(1)
Day Rate(2)
Comments
Heavy Duty - Modern Jackups(3)
VALARIS 118LT 240-C2012
BP
BP

Trinidad
Trinidad

Apr 24
Apr 25

Apr 25
Apr 28

Total contract value of approx. $51 million based on initial estimated duration of 365 days
Total contract value of approx. $168 million based on duration of three years

VALARIS 117LT 240-C2009
Eni
Eni
Mexico
Mexico
Dec 21
Apr 25
Mar 25
Jan 26
Expect approx. 30 days out of service for planned maintenance in 1Q25
Total contract value of approx. $36 million based on initial estimated duration of 300 days. One priced option with an estimated duration of 150 days
VALARIS 116LT 240-C2008Saudi AramcoSaudi ArabiaDec 18Dec 24
Leased to ARO Drilling(4)
VALARIS 115BM Pacific Class 4002013ShellBruneiApr 23Apr 27Total contract value of approx. $159 million based on duration of four years
VALARIS 110KFELS MOD V-B2015North Oil CompanyQatarOct 21Oct 251-year priced option
VALARIS 108KFELS MOD V-B2007Saudi AramcoSaudi ArabiaMar 24Mar 27
Leased to ARO Drilling(4)
VALARIS 107KFELS MOD V-B2006Undisclosed
ExxonMobil		Australia
Australia
Mar 24
Nov 24
Oct 24
Nov 25		$150,000
$153,000
Two 180-day priced options
VALARIS 106KFELS MOD V-B2005BP
BP		Indonesia
Indonesia		Jan 24
Apr 25		Jan 25
May 25		$85,000
$95,000		Expect approx. 90 days out of service for planned maintenance in 1Q25. Priced options for work into 1Q26
Stacked
VALARIS 111KFELS MOD V-B2003Croatia
VALARIS 109KFELS MOD V-Super B2008Namibia
VALARIS 104KFELS MOD V-B2002UAE
Changes: bolded rig names and underlined text signify changes in rig status from previous fleet status report
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Valaris Limited
Fleet Status Report
October 30, 2024
Asset Category / RigDesignYear DeliveredCustomerLocationContract Start Date
Contract End Date(1)
Day Rate(2)
Comments
Standard Duty - Modern Jackups(3)
VALARIS 146LT Super 116-E2011Saudi AramcoSaudi ArabiaSep 18Dec 24
Leased to ARO Drilling(4)
VALARIS 144LT Super 116-E2010Undisclosed

Undisclosed		Angola

Angola		Feb 25

Apr 25		Mar 25

May 27		Out of service for contract preparations and mobilization in 3Q24, 4Q24 and 1Q25. Total contract value of approx. $8.5 million based on estimated duration of 45 days
Total contract value estimated to be between $149 million and $156 million, including a mobilization fee from the U.S. Gulf of Mexico.
VALARIS 141LT Super 116-E2016Saudi AramcoSaudi ArabiaAug 22Aug 25
Leased to ARO Drilling(4)
VALARIS 140LT Super 116-E2016Saudi AramcoSaudi ArabiaMar 22Mar 25
Leased to ARO Drilling(4)
VALARIS 76LT Super 116-C2000Saudi AramcoSaudi ArabiaJan 25Dec 29
Leased to ARO Drilling(4)
Stacked
VALARIS 148LT Super 116-E2013UAEContract between ARO and Saudi Aramco suspended during 3Q24. Subsequently, ARO elected to terminate the contract in Oct 2024. Bareboat charter agreement between Valaris and ARO also terminated and rig returned to Valaris
VALARIS 147LT Super 116-E2013UAEContract between ARO and Saudi Aramco suspended during 3Q24. Subsequently, ARO elected to terminate the contract in Oct 2024. Bareboat charter agreement between Valaris and ARO also terminated and rig returned to Valaris
VALARIS 145LT Super 116-E2010US GOM
VALARIS 143LT Super 116-E2010UAE
VALARIS 75LT Super 116-C1999US GOM
Changes: bolded rig names and underlined text signify changes in rig status from previous fleet status report
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Valaris Limited
Fleet Status Report
October 30, 2024
Asset Category / RigDesignYear DeliveredCustomerLocationContract Start Date
Contract End Date(1)
Day Rate(2)
Comments
Standard Duty - Legacy Jackups
VALARIS 92LT 116-C1982Harbour Energy
Shell
UK
UK
Mar 24
May 25
Apr 25
Apr 27		$95,000
Total contract value of approx. $75 million based on duration of two years
VALARIS 72Hitachi 300C1981Eni
Eni		UK
UK		Jan 20
Feb 25

Jan 25
Sep 27
Other - Managed Rigs
Thunder HorseDeepwater SemisubmersibleBPUS GOMJan 24Jan 27Total contract value of approx. $153 million
Mad DogDeepwater Spar Drilling RigBPUS GOMJan 24Jan 27Total contract value of approx. $106 million
Changes: bolded rig names and underlined text signify changes in rig status from previous fleet status report
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Valaris Limited
Fleet Status Report
October 30, 2024
Asset Category / RigDesignCustomerLocationContract Start Date
Contract End Date(1)
Day Rate(2)
Comments
ARO Drilling
Jackup Rigs Owned by ARO Drilling 
Gilbert RoweLT 116-CSaudi AramcoSaudi ArabiaOct 17Jan 26Expect approx. 15 days out of service for planned maintenance in 1Q25
SAR 201BM 200-HSaudi AramcoSaudi ArabiaFeb 18Feb 26Expect approx. 25 days out of service for planned maintenance in 4Q24
Bob KellerLT Tarzan 225-CSaudi AramcoSaudi ArabiaOct 17Jan 26Expect approx. 10 days out of service for planned maintenance in 3Q25
J.P. BussellLT Tarzan 225-CSaudi AramcoSaudi ArabiaOct 17Jan 26
Scooter YeargainLT Tarzan 225-CSaudi AramcoSaudi ArabiaOct 18Dec 26Expect approx. 100 days out of service for planned maintenance across 3Q25 and 4Q25
Hank BoswellLT Tarzan 225-CSaudi AramcoSaudi ArabiaOct 18Dec 26Expect approx. 10 days out of service for planned maintenance in 1Q25
SAR 202KFELS Super BSaudi AramcoSaudi ArabiaOct 17Jan 26
Kingdom 1LT 116-CSaudi AramcoSaudi ArabiaNov 23Nov 31
Kingdom 2LT 116-CSaudi AramcoSaudi ArabiaAug 24Aug 32
Changes: bolded rig names and underlined text signify changes in rig status from previous fleet status report

(1) Contract duration does not include any unexercised optional extensions. Contract end dates can vary based on how long it takes to complete the wells subject to the contract.
(2) Day rates are reported to the nearest thousand and reflect the operating day rates charged to customers, excluding certain types of non-recurring revenues such as lump sum mobilization payments. Day rates are provided unless such disclosures are restricted by confidentiality provisions.
(3) Heavy duty jackups are well-suited for operations in tropical revolving storm areas.
(4) Rigs leased to ARO Drilling via bareboat charter agreements to fulfill contracts between ARO Drilling and Saudi Aramco.

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Valaris Limited
Fleet Status Report
October 30, 2024

Out of Service Days (1)
RigAsset CategoryQ4 2024Q1 2025Q2 2025Q3 2025Q4 2025
VALARIS DS-18Floater - Drillship20
VALARIS DS-4Floater - Drillship60
VALARIS NorwayJackup - Heavy Duty Harsh Environment30
VALARIS 248Jackup - Heavy Duty Harsh Environment50
VALARIS 247Jackup - Heavy Duty Harsh Environment15
VALARIS 121Jackup - Heavy Duty Harsh Environment30
VALARIS 117Jackup - Heavy Duty Modern30
VALARIS 106Jackup - Heavy Duty Modern90
VALARIS 144Jackup - Standard Duty Modern9045

(1) Table shows expected out of service days for planned maintenance, e.g. special periodic surveys and contract preparation, excluding rigs undergoing reactivation projects. Excludes ARO owned rigs.
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Valaris Limited
Fleet Status Report
October 30, 2024
 
Additional Information Regarding this Fleet Status Report
 
Day Rate and Terms. The day rates reflected in this Fleet Status Report are stated in U.S. dollars and include the operating day rates charged to customers, which may include estimated contractual adjustments for changes in operating costs and/or reimbursable cost adjustments for ongoing expenses such as crew, catering, insurance and taxes. The day rates, however, do not include certain types of non-recurring revenues such as lump sum mobilization payments, revenues earned during mobilizations, revenues associated with contract preparation and other non-recurring reimbursable items such as mobilizations and capital enhancements, and the impact of the fair market value adjustments to previously acquired drilling contracts that are recognized during the contract term. Routine and non-routine downtime may reduce the actual revenues recognized during the contract term. Additionally, we sometimes negotiate special rates and/or day rate adjustments with customers that may reduce revenues recognized.

Total Contract Value. Total contract value is the estimated total compensation expected to be received for a contract, including the operating day rate over the estimated firm term of the contract and any non-recurring lump sum payments for items such as mobilization, reactivation and capital upgrades.
 
Forward-Looking Statements. Statements contained in this Fleet Status Report 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 and specifically include statements regarding expected financial performance; expected utilization, day rates, revenues, operating expenses, cash flows, contract status, terms and duration, contract backlog, capital expenditures, insurance, financing and funding; the offshore drilling market, including supply and demand, customer drilling programs and the attainment of requisite permits for such programs, stacking of rigs, effects of new rigs on the market and effect of the volatility of commodity prices; expected work commitments, awards, contracts and letters of intent; scheduled delivery dates for rigs; performance of our joint ventures, including our joint venture with Saudi Aramco; timing of the delivery of the Saudi Aramco Rowan Offshore Drilling Company ("ARO") newbuild rigs and the timing of additional newbuild orders; the availability, delivery, mobilization, contract commencement, availability, relocation or other movement of rigs and the timing thereof; rig reactivations; suitability of rigs for future contracts; divestitures of assets; general economic, market, business and industry conditions, including inflation and recessions, trends and outlook; general political conditions, including political tensions, conflicts and war; cybersecurity attacks and threats; impacts and effects of public health crises, pandemics and epidemics; future operations; ability to renew expiring contracts or obtain new contracts, including for VALARIS DS-13 and DS-14; increasing regulatory complexity; targets, progress, plans and goals related to sustainability matters; the outcome of tax disputes; assessments and settlements; and expense management. The forward-looking statements contained in this Fleet Status Report are subject to numerous risks, uncertainties and assumptions that may cause actual results to vary materially from those indicated, including cancellation, suspension, renegotiation or termination of drilling contracts and programs; our ability to obtain financing, service our debt, fund capital expenditures and pursue other business opportunities; adequacy of sources of liquidity for us and our customers; future share repurchases; actions by regulatory authorities, or other third parties; actions by our security holders; internal control risk; commodity price fluctuations and volatility, customer demand, loss of a significant customer or customer contract, downtime and other risks associated with offshore rig operations; adverse weather, including hurricanes; changes in worldwide rig supply, including as a result of reactivations and newbuilds; and demand, competition and technology; supply chain and logistics challenges; consumer preferences for alternative fuels and forecasts or expectations regarding the global energy transition; increased scrutiny of our sustainability targets, initiatives and reporting and our ability to achieve such targets or initiatives; changes in customer strategy; future levels of offshore drilling activity; governmental action, civil unrest and political and economic uncertainties, including recessions, volatility affecting the banking system and financial markets, inflation and adverse changes in the level of international trade activity; terrorism, piracy and military action; risks inherent to shipyard rig reactivation, upgrade, repair, maintenance or enhancement; our ability to enter into, and the terms of, future drilling contracts; suitability of rigs for future contracts; the cancellation of letters of intent or letters of award or any failure to execute definitive contracts following announcements of letters of intent, letters of award or other expected work commitments; the outcome of litigation, legal proceedings, investigations or other claims or contract disputes; governmental regulatory, legislative and permitting requirements affecting drilling operations; our ability to attract and retain skilled personnel on commercially reasonable terms; environmental or other liabilities, risks or losses; compliance with our debt agreements and debt restrictions that may limit our liquidity and flexibility, including in any return of capital plans; cybersecurity risks and threats; and changes in foreign currency exchange rates. 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 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.

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v3.24.3
Document and Entity Information Document
Oct. 30, 2024
Entity Information [Line Items]  
Entity Central Index Key 0000314808
Document Type 8-K
Document Period End Date Oct. 30, 2024
Entity Registrant Name Valaris Limited
Entity Incorporation, State or Country Code D0
Entity File Number 001-08097
Entity Tax Identification Number 98-1589854
Entity Address, Address Line One Claredon House, 2 Church Street
Entity Address, City or Town Hamilton
Entity Address, Country BM
Entity Address, Postal Zip Code HM 11
City Area Code 44 (0)
Local Phone Number 20 7659 4660
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Entity Emerging Growth Company false
Amendment Flag false
Common Class A  
Entity Information [Line Items]  
Title of 12(b) Security Common Shares, $0.01 par value share
Trading Symbol VAL
Security Exchange Name NYSE
Warrant  
Entity Information [Line Items]  
Title of 12(b) Security Warrants to purchase Common Shares
Trading Symbol VAL WS
Security Exchange Name NYSE
Valaris (NYSE:VAL)
Gráfico Histórico do Ativo
De Dez 2024 até Jan 2025 Click aqui para mais gráficos Valaris.
Valaris (NYSE:VAL)
Gráfico Histórico do Ativo
De Jan 2024 até Jan 2025 Click aqui para mais gráficos Valaris.