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Valaris reveals fresh deals and extensions

New York-listed offshore driller Valaris has secured new contracts and contract extensions for a pair of its jackups and floaters.

In Brazil, TotalEnergies exercised an option for the 2014-built drillship Valaris DS-15, keeping the rig under contract through the second quarter of 2024. The optional period is for around 100 days at a dayrate of $254,000. There are no further options remaining under this contract.

Meanwhile, in West Africa, TotalEnergies affiliate booked the 2014-built Valaris DS-12 for 100 days, starting in June this year.

In the UK North Sea, Harbour Energy extended the contract for standard duty jackup Valaris 92 for two years, expected to commence in the first quarter of 2024, in direct continuation of the existing contract. The operating day rate for the extension period is $95,000, during which the rig is expected to be exclusively undertaking plug and abandonment work.

In addition, Valaris clinched a one-well contract with NEO Energy for heavy-duty, ultra-harsh environment jackup Valaris Norway. The 20-day contract should start in July 2023 at $105,000 per day.

Valaris said average day rates for its jackups stood at $94,000 as of May 2023 and $253,000 for floaters. This is expected to climb to $110,000 and $386,000, respectively, in 2025 and after.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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