Valaris Limited announced a two-year contract award for its drillship VALARIS DS-10 to operate offshore West Africa. The contract is expected to commence in late the second quarter or in the third quarter of 2026.
The total contract value for the firm term is $352 million, significantly boosting Valaris's contracted revenue backlog. This value does not include the provision of additional services, indicating potential for further revenue.
The agreement also includes two unpriced options, each with a duration of one year, which could extend the rig's employment. This award highlights the demand for high-specification assets in key deepwater regions and supports future earnings and cash flow for Valaris.
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