Valaris secures ~$190M in new contracts; backlog $4.5B; sells jackup for $108M

Valaris Ltd

Five-well floater contract with BP for VALARIS DS-12 in Egypt, TCV ~$140M, starts Q2 2026.
Jackup VALARIS 121 extension with Shell (194 days, >$25M) and VALARIS Norway extension with Ithaca (150 days, ~$18M).
VALARIS 247 sold for $108M in August 2025.
Total contract backlog $4.5B as of Oct 23, 2025, with floaters at $2.6B and jackups at $1.3B.
Out-of-service days planned for several rigs in 2025-2027, impacting Q4 2025 and beyond.

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