LOS ANGELES (dpa-AFX) - Valaris Limited (VAL) announced a 940-day contract extension for the drillship VALARIS DS-16, beginning in June 2026, along with a new 914-day contract for the drillship VALARIS DS-18, expected to commence in the mid-fourth quarter of 2026. Both agreements are with Anadarko Petroleum Corporation, a wholly-owned subsidiary of Occidental, for operations in the Gulf of America. The combined contribution to the company's contracted revenue backlog is approximately $760 million.
Valaris said it has secured approximately $1.9 billion in new contract backlog so far this year, reflecting solid execution of its commercial strategy and its ability to deliver safe and efficient operations for its customers.
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