---
schema_version: "secwatch.filing_event.v1"
accession: "0000314808-24-000056"
form_type: "8-K"
ticker: "VAL"
cik: "0000314808"
company_name: "Valaris Ltd"
filed_at: "2024-05-01T23:59:59+00:00"
generated_at: "2026-06-03T03:23:51.837105+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Valaris reports $480M in new contracts, backlog rises to $4.0B, but two rig contracts suspended

## Summary
- New contract awards and extensions add ~$480M to backlog; total backlog $4.0B (up from $3.9B in Feb).
- Three-year extension with BP for Mad Dog and Thunder Horse rigs valued at ~$259M total.
- ARO Drilling suspends contract for jackup VALARIS 143; termination expected, rig returns to Valaris.
- VALARIS 92 receives suspension notice from Feb 2025, reducing backlog by ~$35M.
- Two new drillships (DS-14, DS-13) arrive in Las Palmas, Spain for stacking until contracted.

## SEC filing metadata
- accession: 0000314808-24-000056
- form_type: 8-K
- ticker: VAL
- cik: 0000314808
- company_name: Valaris Ltd
- filed_at: 2024-05-01T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/314808/000031480824000056/0000314808-24-000056-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/314808/000031480824000056/val-20240430.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000314808-24-000056
- JSON: https://secwatch.observer/filing/0000314808-24-000056.json
- Plain text: https://secwatch.observer/filing/0000314808-24-000056.txt

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