Valaris awarded new contracts and extensions worth $285m

Valaris awarded new contracts and extensions worth $285m

Offshore driller Valaris, formerly EnscoRowan, has announced new contracts and contract extensions worth in the region of $285m, all awarded to the company since its last fleet status report on October 25.

Drillship Valaris DS-18 has had a one-well priced option declared by with EnVen in the US Gulf of Mexico, with an estimated duration of 45 days from February 2020 to March 2020. The vessel has also been awarded a two-well contract with an unnamed party in the US Gulf of Mexico commencing in June 2020 for an estimated duration of 180 days.

Another Valaris drillship, Valaris DS-15 has been awarded a one-well contract with Eni in the US Gulf of Mexico commencing in November 2019, with an estimated duration of 30 days. It has also been awarded a two-well contract with CNOOC for operations offshore Mexico with commencement scheduled in April 2020, with an estimated duration of 160 days.

Eight Valaris jackup rigs have also picked up contracts, a mix of new contracts and extensions.

Valaris JU-144 has been awarded a 12-well contract with Eni offshore Mexico commencing in April 2020 with an estimated duration of two years. Valaris JU-87 has been awarded a 21-well contract with Exxon in the US Gulf of Mexico, scheduled to commence in November 2019 with an estimated duration of 295 days.

Valaris JU-290 has been extended by Repsol, providing accommodation services with offshore Norway extended by around 50 days. Valaris JU-292 has been extended by ConocoPhillips with the exercise of a six-well priced option for operations offshore Norway. Valaris JU-249 has been extended for one year by Chrysaor in the North Sea. Valaris JU-122 has had a one-well option exercised by Shell in the North Sea, while Valaris JU-117 has had a two-well option exercised by an unnamed client offshore Trinidad. Lastly, Valaris JU-115 has had its contract extended with the exercise of a four-month option with Mubadala Petroleum offshore Thailand.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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