Valaris adds >$1B in new contracts; backlog rises to $4.7B; selling jackup for $108M

Valaris Ltd

New contracts and extensions add over $1.0B to backlog since April 30; total backlog reaches ~$4.7B.
Occidental awards 940-day DS-16 extension and 914-day DS-18 contract in Gulf of America for ~$760M combined.
DS-15 secures 5-well West Africa contract valued at ~$135M including upfront payments, starting Q3 2026.
Jackup VALARIS 110 gets 4-year Qatar extension (~$117M); VALARIS 247 sold for ~$108M, close expected 2H25.
Harbour Energy suspends VALARIS 120; mutual termination of VALARIS 248 contract with Anasuria Hibiscus.

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