Valaris announces fleet rationalization

The company “recently decided to retire three semisubmersibles from its fleet: VALARIS (VAL) DPS-5, which has been idle since last working in third quarter 2024, as well as VALARIS DPS-3 and VALARIS DPS-6, which have been stacked for several years. The Company expects that these rigs will be removed from the global drilling supply and repurposed for alternative uses or scrapped. Jackup VALARIS 75 has been sold for $24 million. VALARIS 75 is a 25-year-old jackup that has been stacked in the U.S. Gulf for five years. As part of the purchase and sale agreement, future operations are restricted to the U.S. Gulf.”