Market News / Story
Valaris adds $220M to backlog after securing contracts, extensions
Seeking Alpha ·
Seeking Alpha reports: Valaris fell 1.3% in Wednesday's trading after saying it secured new offshore drilling contracts and extensions representing ~$220M in additional backlog since its most recent fleet status report in early August. Valaris said it secured a two-well exploration contract with Petronas for the Valaris DS-18 drillship in Suriname, which is expected to begin in Q4 2026 and run for up to seven months; after the contract ends, the drillship will move to a 914-day contract…