secwatch.observer — SEC 8-K summary
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Issuer:     Valaris Ltd (VAL)
CIK:        0000314808
Form:       8-K
Filed at:   2023-08-02T23:59:59+00:00
Accession:  0000314808-23-000113
Event type: other_material
Sentiment:  positive
Materiality: 0.65
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Valaris secures $364M 850-day drillship contract; backlog rises to $3.04B
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- 12-well contract offshore West Africa for VALARIS DS-7 valued at ~$364M; reactivation in Spain.
- VALARIS DPS-5 awarded two contracts in U.S. GOM with Occidental and Apache starting Aug/Oct 2023.
- Jackup VALARIS 107 contracted in Australia at $150,000/day; follow-on 1-year Esso deal.
- Total contract backlog $3.04B as of Aug 1, up from $2.67B in prior report.
- Purchase options for DS-14 ($218M) and DS-13 ($119M) expiring year-end 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/314808/000031480823000113/0000314808-23-000113-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/314808/000031480823000113/val-20230801.htm
  HTML page:      https://secwatch.observer/filing/0000314808-23-000113

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