secwatch.observer — SEC 8-K summary
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Issuer:     Valaris Ltd (VAL)
CIK:        0000314808
Form:       8-K
Filed at:   2023-05-02T23:59:59+00:00
Accession:  0000314808-23-000044
Event type: other_material
Sentiment:  positive
Materiality: 0.75
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Valaris secures $500M Petrobras contract for drillship VALARIS DS-8; sells jackup VALARIS 54 for $28.5M
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- Three-year Petrobras contract for VALARIS DS-8 valued at ~$500M including $30M mobilization fee.
- 100-day contract with TotalEnergies affiliate for VALARIS DS-12; VALARIS DS-15 option exercised at ~$254K/day.
- Two-year extension for VALARIS 92 with Harbour Energy at $95K/day for P&A work; VALARIS 107 gets 70-day, ~$26M contract.
- VALARIS Norway receives one-well contract with NEO Energy at $105K/day; sale of VALARIS 54 completed for $28.5M.
- Total contract backlog as of May 1, 2023 is $2.8B across drillships, semisubs and jackups.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/314808/000031480823000044/0000314808-23-000044-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/314808/000031480823000044/val-20230501.htm
  HTML page:      https://secwatch.observer/filing/0000314808-23-000044

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