Rig Owner Valaris Wins $84mn In New Deals

London-based rig owner Valaris has clinched several new contracts and extensions over the past month worth $84mn in revenues, it said on August 26.

The company’s Valaris JU-290 jack-up has been enlisted to provide accommodation services for Spain’s Repsol off Norway, for 130 days starting in September. Meanwhile its Valaris JU-87 jack-up has been hired by Arizona-based McMoRan Oil & Gas to sink a well in the US Gulf of Mexico. The work is to start this month and run for 30 days.

Valaris also secured four contact extensions. The Valaris 8505 semi-submersible is slated to drill three more wells offshore Mexico for Italy’s Eni during 225 days between February and September 2020. The Valaris JU-248 jack-up has had its contract with Shell off the coast of Trinidad extended for another month until this October, while the Valaris JU-247 jack-up’s contract with France’s Total in the North Sea has been prolonged for eight months until November 2020.

Finally, the Valaris JU-117 jack-up will drill another two wells for an undisclosed operator offshore Trinidad for 60 days between December 2019 and February 2020.

All of the contracts and extensions were awarded after July 25, when Valaris published its last fleet report.