Valaris to sell Jackup VALARIS 247 to BW Energy for $108M

Valaris (VAL) announced that it has agreed to sell jackup VALARIS 247 to BW Energy for cash proceeds of approximately $108 million. This sale is expected to close in the second half of 2025, subject to customary closing conditions. As part of the sales agreement, BWE will be restricted from using the rig outside of BWE-owned or affiliated properties for the rig’s expected remaining useful life.