Valaris Announces New Contracts and Fleet Status Update

Reuters06:22

Valaris Announces New Contracts and Fleet Status Update

Valaris Ltd. reported a contract backlog increase to approximately $4.7 billion as of February 17, 2026, up from around $4.5 billion on October 23, 2025. The company secured new contracts and extensions totaling nearly $900 million in backlog. Notable awards include a five-well extension for drillship VALARIS DS-7 with Azule Energy offshore Angola, a two-year extension for drillship VALARIS DS-9 with Esso Exploration Angola, and a multi-year contract for drillship VALARIS DS-8 with Shell offshore Brazil. In the jackup segment, Valaris secured an eight-well contract for VALARIS 106 with BP Indonesia and several contract extensions and new contracts for other jackup rigs. The semisubmersible VALARIS DPS-1 was classified as held for sale, and jackups VALARIS 102 and 145 were sold for recycling in December 2025.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Valaris Ltd. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0000314808-26-000018), on February 17, 2026, and is solely responsible for the information contained therein.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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The company secured new contracts and extensions totaling nearly $900 million in backlog. Notable awards include a five-well extension for drillship VALARIS DS-7 with Azule Energy offshore Angola, a two-year extension for drillship VALARIS DS-9 with Esso Exploration Angola, and a multi-year contract for drillship VALARIS DS-8 with Shell offshore Brazil. In the jackup segment, Valaris secured an eight-well contract for VALARIS 106 with BP Indonesia and several contract extensions and new contracts for other jackup rigs. The semisubmersible VALARIS DPS-1 was classified as held for sale, and jackups VALARIS 102 and 145 were sold for recycling in December 2025.\n      \n\n\nDisclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. 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