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Valaris lands $245M in new contracts, extensions since late August

Offshore drilling services provider Valaris PLC has won several new contracts and extensions worth $245 million since the company's last update in late August, according to an Oct. 1 release.

The VALARIS DS-4 was granted a 50-day one-well contract with Amni offshore Ghana that is expected to start in early March 2020.

The VALARIS JU-248 bagged a four-well contract from Neptune Energy Ltd. for work in the North Sea. The contract is expected to start in the third quarter of 2020 and has an estimated duration of 492 days. In addition, a previously announced contract with Premier Oil PLC in the North Sea was transferred to the VALARIS JU-248 from VALARIS JU-121.

Fieldwood Energy LLC exercised a 90-day option and extended the VALARIS DS-16's contract in the U.S. Gulf of Mexico by 180 days from March 2020 to September 2020.

Burullus Gas Company exercised three one-well options and extended the VALARIS DS-7 contract offshore Egypt by 165 days from October 2019 to mid-March 2020.

Woodside Energy Ltd. extended the VALARIS DPS-1 contract offshore Australia by seven wells with an estimated duration of 420 days from July 2020 to September 2021.

Equinor ASA extended the VALARIS JU-291's contract offshore Norway by two wells with a projected duration of 208 days from January 2020 to August 2020.

In addition, Mubadala Petroleum LLC extended the VALARIS JU-115 contract for work offshore Thailand by two months from January 2020 to March 2020.