Valaris has issued a Fleet Status Report that provides the current status of the Company’s fleet of offshore drilling rigs along with certain contract information for these assets. The Fleet Status Report can be found on the 'Investors' section of the Company’s website.
Contract Backlog
- Valaris has been awarded the following new contracts and contract extensions, with associated contract backlog of approximately $190 million, subsequent to issuing its previous fleet status report on July 24, 2025. Contract backlog excludes lump sum payments such as mobilization fees and capital reimbursements.
- Contract backlog is approximately $4.5 billion as of October 23, 2025.
Floater Contract Awards
- Five-well contract with Bp Exploration Delta Limited for drillship VALARIS DS-12 in Egypt. The contract is expected to commence in the second quarter 2026 and has an estimated duration of 350 days. The estimated total contract value, inclusive of a mobilization fee, is approximately $140 million. The contract also includes three option wells.
Jackup Contract Awards
- 194-day contract extension for jackup VALARIS 121 with Shell in the UK North Sea. The contract extension is expected to commence in February 2026 in direct continuation of the existing contract. The contracted revenue backlog for the 194-day extension is over $25 million. One further unpriced option remains.
- 150-day contract extension for jackup VALARIS Norway with Ithaca Energy in the UK North Sea. The contract extension is expected to commence in August 2026 in direct continuation of the existing contract. The contracted revenue backlog for the 150-day extension is approximately $18 million.
- 120-day contract for VALARIS 248 with GE Vernova in the UK North Sea to provide accommodation support services for an offshore wind project. The contract is expected to commence in November 2025 and will add over $8 million to contracted revenue backlog. The contract includes an additional six priced options with a total duration of 104 days.
- Two 28-day contract extensions for jackup VALARIS 122 with Shell in the UK North Sea. The contract extension is expected to commence in January 2026 in direct continuation of the existing contract. The total contracted revenue backlog for the two 28-day extensions is over $6 million. The contract extensions are for accommodation support. One priced option remains.
Other Fleet Status Updates
- Jackup VALARIS 247 sold for cash proceeds of approximately $108 million in August 2025.
Source: Valaris
