Valaris announces two-year contract award for drillship VALARIS DS-10

Valaris (VAL) Limited announced that it has been awarded a two-year contract offshore West Africa for drillship VALARIS DS-10 that is expected to commence late in the second quarter or in the third quarter 2026. The total contract value for the firm term is $352M. The total contract value does not include the provision of additional services. The contract includes two unpriced options, each with a duration of one year. President and Chief Executive Officer Anton Dibowitz said, “This contract award is a testament to the safety and operational performance of VALARIS DS-10 and its crews, which have an excellent track record of successfully executing clients’ well programs offshore West Africa. This contract increases our backlog by approximately $350M and supports our future earnings and cash flow, and we remain focused on securing additional attractive long-term contracts for our high-specification assets.”