Valaris backlog drops to $3.6B; new awards add ~$120M; retires three rigs, sells jackup for $24M

Valaris Ltd

Contract backlog fell to $3.6B from $4.1B as of Oct 30, 2024.
New contracts/extensions (TotalEnergies 600-day >$75M, BP 100-day $16.8M) added ~$120M.
Valaris retired three semisubmersibles (DPS-5, DPS-3, DPS-6); expects removal from global drilling supply.
Sold stacked jackup VALARIS 75 for $24M; future operations restricted to U.S. Gulf.
Short-term bareboat charter extensions for three ARO Drilling jackups through Feb 28, 2025; talks with Saudi Aramco for longer term.

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