Valaris reports $1.2B new contracts; backlog rises to $3.9B from $3.2B

Valaris Ltd

VALARIS DS-4 awarded 1,064-day, ~$519M contract with Petrobras (Brazil); starts late Q4 2024 after ~90 days of upgrades.
Purchased newbuild drillships DS-13 & DS-14 for ~$337M; being mobilized to Las Palmas, Spain for stacking.
Total contract backlog increased to ~$3.9B from ~$3.2B as of Nov 2023; floater backlog $2.5B, jackup $1.2B.
VALARIS DS-16 extended with Occidental for two years (June 2024); VALARIS Stavanger awarded ~$48M contract with TotalEnergies (UK).
Terminated previously disclosed VALARIS 107 contract offshore Australia; replaced by new awards for VALARIS 249.

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