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Valaris ( (VAL) ) has shared an update.
Valaris Limited announced updates to its fleet status as of February 18, 2025, including new contracts and extensions worth approximately $120 million since the previous report on October 30, 2024. Notably, the company’s contract backlog decreased from $4.1 billion to approximately $3.6 billion. Valaris secured significant contract extensions, including a 600-day extension with TotalEnergies in the UK North Sea, and new contracts with BP offshore Trinidad and Jadestone Energy in Australia. The company also made strategic fleet adjustments by retiring three semisubmersibles and selling a jackup rig, reflecting a focus on optimizing their operational fleet.
More about Valaris
Valaris Limited operates in the offshore drilling industry, providing services related to oil and gas drilling through its fleet of rigs. The company focuses on delivering comprehensive drilling solutions with a market emphasis on global offshore operations.
YTD Price Performance: -1.04%
Average Trading Volume: 1,580,497
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $3.17B
For a thorough assessment of VAL stock, go to TipRanks’ Stock Analysis page.
