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Valaris awarded several contracts, extensions worth $84M

Offshore drilling services provider Valaris PLC said that it was granted new contracts and contract extensions worth $84 million, according to an Aug. 26 release.

Italy's Eni SpA extended the contract of the VALARIS 8505 offshore Mexico by three wells and the deal is expected to last 225 days starting from February 2020 to September 2020. Spain's Repsol SA granted the VALARIS JU-290 a 130-day accommodation services contract offshore Norway that is expected to start in September. Oil major Royal Dutch Shell PLC granted a one-month contract extension to the VALARIS JU-248 for work offshore Trinidad.

In addition, French oil major TOTAL SA extended the contract of the VALARIS JU-247 by eight months and will run through March 2020 to November 2020. An undisclosed operator offshore Trinidad granted a two-well extension to the VALARIS JU-117's contract that is expected to last for 60 days and will run from December to February 2020. McMoRan Exploration Co. subsidiary McMoRan Oil & Gas LLC granted the VALARIS JU-87 a 30-day one-well contract in the U.S. Gulf of Mexico that is expected to start in August.