Valaris announces drillship contract award
Valaris Limited has been awarded a 12-well contract offshore West Africa for drillship VALARIS DS-7, which will be reactivated for this contract. The company also announced that it is increasing its 2023 share repurchase target from $150 million to $200 million, according to the company's release.
The contract is expected to commence in second quarter 2024 and has an estimated duration of 850 days. The total contract value is estimated to be $364 million. The contract requires minimal customer-specific upgrades to the rig and does not include the provision of any additional services.
Valaris Limited is the industry leader in offshore drilling services across all water depths and geographies.
