---
schema_version: "secwatch.filing_event.v1"
accession: "0000314808-24-000116"
form_type: "8-K"
ticker: "VAL"
cik: "0000314808"
company_name: "Valaris Ltd"
filed_at: "2024-07-30T23:59:59+00:00"
generated_at: "2026-05-31T15:28:55.050431+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Valaris awards $715M in new contracts; backlog rises to $4.3B; Saudi suspensions for 2 rigs

## Summary
- New contracts and extensions since Apr 30 increase backlog to ~$4.3B from ~$4.0B; new contract backlog of ~$715M.
- Equinor drillship contract for VALARIS DS-17 valued at ~$498M; estimated duration 852 days starting 3Q25.
- Multiple jackup awards: Valaris 92 (~$75M, UK P&A), Valaris 249 (~$66M, Shell Trinidad), Valaris Norway (~$39M, ENI UK), others.
- Suspension notices received for Valaris 147 and 148 (leased to ARO) from Saudi Aramco; backlog impact ~$35M for Valaris, $113M for ARO. Discussions ongoing.
- North Oil Company exercised one-year option for Valaris 110 at ~$26M; Valaris 123 option exercised at $152.5k day rate.

## SEC filing metadata
- accession: 0000314808-24-000116
- form_type: 8-K
- ticker: VAL
- cik: 0000314808
- company_name: Valaris Ltd
- filed_at: 2024-07-30T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/314808/000031480824000116/0000314808-24-000116-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/314808/000031480824000116/val-20240729.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000314808-24-000116
- JSON: https://secwatch.observer/filing/0000314808-24-000116.json
- Plain text: https://secwatch.observer/filing/0000314808-24-000116.txt

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