---
schema_version: "secwatch.filing_event.v1"
accession: "0000314808-24-000003"
form_type: "8-K"
ticker: "VAL"
cik: "0000314808"
company_name: "Valaris Ltd"
filed_at: "2024-02-16T23:59:59+00:00"
generated_at: "2026-06-06T00:28:33.963426+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000314808-24-000003
- form_type: 8-K
- ticker: VAL
- cik: 0000314808
- company_name: Valaris Ltd
- filed_at: 2024-02-16T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/314808/000031480824000003/0000314808-24-000003-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/314808/000031480824000003/val-20240215.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000314808-24-000003
- JSON: https://secwatch.observer/filing/0000314808-24-000003.json
- Plain text: https://secwatch.observer/filing/0000314808-24-000003.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.