Valaris Ltd

Valaris Ltd. engages in drilling of oil and gas wells. It provides offshore drilling services across all water depths and geographies. The firm operates rig fleet of ultra-deepwater drillships, versatile semisubmersibles and shallow-water jackups. The company was founded in 1975 and is headquartered in Hamilton, Bermuda.

Earnings data Q2 2020

Earnings data Q2 2021

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Valaris reports robust Q4 performance, eyes growth amid market challenges

Valaris delivered strong Q4 performance, focusing on growth opportunities and shareholder returns. Challenges include lower revenue expectations and varied customer discussions on capital contributions. The company is optimistic about industry outlook and strategic initiatives.

Valaris exceeds Q1 guidance, focuses on long-term customer relationships

Valaris' Q1 earnings call highlighted robust financial performance, strategic refinancing, and a customer-centric approach amidst market volatility. The company aims to optimize fleet strategy and capitalize on market opportunities for sustainable growth.

Valaris excels in Q2 2023, eyes fleet expansion and shareholder returns

Valaris reported strong operational and financial performance in Q2 2023, highlighting a positive market outlook and strategic growth initiatives. The company is focused on fleet expansion, shareholder returns, and seizing opportunities in the offshore drilling sector.

Valaris projects growth in 2024, focuses on fleet profitability

Valaris anticipates improved results in 2024 and 2025, with revenue guidance of $2.25-$2.35 billion for 2024; management committed to returning capital to shareholders and maximizing cash generation.

Valaris reports robust Q4 results, optimistic on market growth

Valaris delivered strong financial performance in Q4, showcasing resilience and strategic focus. The company's emphasis on shareholder value, market optimism, and disciplined approach to capacity management position it well for future growth. Challenges in the competitive market and potential risks from external factors require careful navigation.

Valaris excels in Q1 2024, eyes revenue growth and contract awards

Valaris delivered strong Q1 performance with high revenue efficiency and revenue growth. Focus on high-spec assets and increasing contract backlog positions the company well for future growth. Challenges include securing incremental work for specific rigs and ensuring economic viability in new ventures.

Valaris reports robust Q2 performance, eyes sustained growth opportunities

Valaris demonstrated operational excellence and financial resilience in Q2 2024, surpassing revenue and EBITDA expectations while securing significant contracts and backlog growth.
Despite challenges in the jackup market dynamics and contract negotiations, the company's strengths in market positioning and capital allocation present opportunities for sustained growth and shareholder returns.
With a positive market outlook and strong customer demand, Valaris remains optimistic about future prospects and aims to enhance shareholder value through strategic capital allocation and operational efficiency.

Valaris excels in Q3 with $111M free cash flow and new contracts

Valaris delivered strong financial results in Q3 2024, exceeding expectations and showcasing operational excellence. With a focus on safety and efficiency, the company is well-positioned to capitalize on growing offshore project investments and new contract opportunities.

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Valaris Ltd. engages in the provision of offshore contract drilling services to the international oil and gas industry. It operates through the following segments: Floaters, Jackups, ARO, and Other. The Floaters segment includes drillships and semisubmersible rigs. The Other segment is involved in management services on rigs owned by third-parties and the activities associated with arrangements with ARO under the bareboat charter arrangements. The company was founded in 1975 and is headquartered in Hamilton, Bermuda.

HAMILTON, Bermuda--(BUSINESS WIRE)--Valaris Limited (NYSE: VAL) ("Valaris" or the "Company") today announced the appointment of three new members of the Valaris Executive Management Committee. The following appointments have been made after a rigorous internal and external search process and strongly position the Company for continued success moving forward: Chris Weber will join Valaris as Senior Vice President and Chief Financial Officer. Mr. Weber is expected to start in the third quarter of

Valaris Announces New Executive Leadership Appointments

Halliburton

Schlumberger

Suncor Energy

Tidewater

Whiting Petroleum

Exxon Mobil

The combination of underinvestment in new oil wells and rising demand underscores what might be a long period of high prices for energy commodities. Meanwhile, many oil and gas stocks are still trading at low valuations to expected earnings despite a sector-wide rally stretching back to the end of 2020.

Deep Dive: 8 oil stocks that are still bargains for long-term investors

HAMILTON, Bermuda--(BUSINESS WIRE)--Valaris Limited (NYSE: VAL) ("Valaris" or the "Company") today reported first quarter 2022 results. President and Chief Executive Officer Anton Dibowitz said, “The heart of our business, and our primary focus every day, is on delivering safe, reliable and efficient operations to our customers. I would like to thank the Valaris team for continuing to deliver the strong performance that our customers have come to expect from us, achieving 99% revenue efficiency

Valaris Reports First Quarter 2022 Results

Company to sell two cold-stacked jackup rigs to ADES for aggregate sales proceeds of $125 million. Divestiture will help offset elevated rig reactivation costs expected for the first half of this year while reducing operating expenses by an estimated $3.5 million annually.

Valaris: Jackup Sale To ADES Is Great News

HAMILTON, Bermuda--(BUSINESS WIRE)--Valaris Limited (NYSE: VAL) (“Valaris” or the “Company”) announced today that it has sold heavy duty modern jackups VALARIS 113 and 114 to ADES Saudi Limited for a total of $125 million. VALARIS 113 and 114 are PPL Pacific Class 400 jackups, both delivered in 2012. Both rigs have been stacked in the Philippines since they completed their last contracts in late 2015. President and Chief Executive Officer Anton Dibowitz said, “We are pleased to have closed the

Valaris Announces Sale of Jackups VALARIS 113 and 114

HAMILTON, Bermuda--(BUSINESS WIRE)--Valaris Limited (NYSE: VAL) ("Valaris" or the "Company") will hold its first quarter 2022 earnings conference call at 9:00 a.m. CDT (10:00 a.m. EDT) on Tuesday, May 3, 2022. The earnings release will be issued before the New York Stock Exchange opens that morning. The conference call will be webcast live at www.valaris.com. Alternatively, callers may dial +1-855-239-3215 within the United States or +1-412-542-4130 from outside the U.S. It is recommended that

Valaris Schedules First Quarter 2022 Earnings Release and Conference Call

HAMILTON, Bermuda--(BUSINESS WIRE)--Valaris Limited (NYSE: VAL) (“Valaris” or the “Company”) today confirmed that drillship VALARIS DS-16, which is currently undergoing reactivation activities at ST Engineering Halter Marine and Offshore shipyard in Pascagoula, Mississippi, in advance of its next contract, broke free from its moorings during gale force winds in the early hours of Saturday, March 12. The rig was promptly secured and safely returned to its mooring location the same day. There wer

Valaris Issues Statement on Drillship VALARIS DS-16

HAMILTON, Bermuda--(BUSINESS WIRE)--Valaris Limited (NYSE: VAL) ("Valaris" or the "Company") today announced that President and Chief Executive Officer Anton Dibowitz will present virtually at the Evercore ISI Elite Energy & Materials Summit on Wednesday, March 9, 2022, beginning at 11:35 a.m. CST (12:35 p.m. EST and 6:35 p.m CET). Investor materials to be used during the conference will be available on Valaris' website at www.valaris.com. A recording of the presentation will be available i

Valaris to Present at the Evercore ISI Elite Energy & Materials Summit

Valaris Limited (VAL) CEO Anton Dibowitz on Q4 2021 Results - Earnings Call Transcript

HAMILTON, Bermuda--(BUSINESS WIRE)--Valaris Limited (NYSE: VAL) ("Valaris" or the "Company") today reported fourth quarter 2021 results. President and Chief Executive Officer Anton Dibowitz said, “We focus every day on delivering safe, reliable and efficient operations to our customers. I would like to thank the Valaris team for continuing to deliver the strong performance that our customers have come to expect from us, achieving revenue efficiency of 97% during the fourth quarter and more than

Valaris Reports Fourth Quarter 2021 Results

HAMILTON, Bermuda--(BUSINESS WIRE)--Valaris Limited (NYSE: VAL) ("Valaris" or the "Company") will hold its fourth quarter 2021 earnings conference call at 9:00 a.m. CST (10:00 a.m. EST and 3:00 p.m. London) on Tuesday, February 22, 2022. The earnings release will be issued before the New York Stock Exchange opens that morning. The conference call will be webcast live at www.valaris.com. Alternatively, callers may dial +1-855-239-3215 within the United States or +1-412-542-4130 from outside the

Valaris Schedules Fourth Quarter 2021 Earnings Release and Conference Call

HAMILTON, Bermuda--(BUSINESS WIRE)--Valaris Limited (NYSE: VAL) announced today that it has been awarded two one-well contracts with subsidiaries of Murphy Oil Corporation for semisubmersible VALARIS DPS-5. The first contract is in the U.S. Gulf of Mexico and is expected to commence in the third quarter 2022 with a minimum duration of 30 days. This contract has a one-well option with an estimated duration of 90 days. The second contract, offshore Mexico, will commence in direct continuation of

Valaris Announces Floater Contract Awards

HAMILTON, Bermuda--(BUSINESS WIRE)--Valaris Limited (NYSE: VAL) announced today that it has been awarded the following new contracts: One-well contract with Kosmos Energy in the U.S. Gulf of Mexico for semisubmersible VALARIS DPS-5. The contract is expected to commence in February 2022 with an estimated duration of 105 days. One-well contract with Western Gas offshore Australia for semisubmersible VALARIS MS-1. The contract is expected to commence in the first quarter 2022 with an estimated dur

Valaris Announces Contract Awards

The Third Avenue Value Fund (Trades, Portfolio) released its portfolio for the final quarter of 2021 in late December.

Third Avenue Value Fund Ends Year With Positions in Valaris, Fila Holdings

HAMILTON, Bermuda--(BUSINESS WIRE)--Valaris Limited (NYSE: VAL) announced today that it has been awarded new bareboat charter agreements with ARO Drilling for several jackups. ARO Drilling has signed contracts with Aramco for the same periods as the bareboat charter agreements. Heavy-duty harsh environment jackup VALARIS 250, heavy-duty modern jackup VALARIS 116 and standard-duty modern jackups VALARIS 143 and 146 will each commence three-year extensions to their bareboat charter agreements upo

Valaris Announces Jackup Contract Awards

HAMILTON, Bermuda--(BUSINESS WIRE)--Valaris Limited (NYSE: VAL) ("Valaris" or "the Company") today announced that Famatown Finance Limited, a company indirectly controlled by trusts settled by John Fredriksen and a member of The Seatankers Group, has accumulated through open market transactions approximately 5% of the common shares of Valaris. Anton Dibowitz, President and Chief Executive Officer of Valaris, commented: “Valaris welcomes the interest and investment from The Seatankers Group, who

Valaris Announces Support Agreement with The Seatankers Group

LIMASSOL, Cyprus--(BUSINESS WIRE)--Famatown Finance Limited (“Famatown”), a company indirectly controlled by trusts settled by Mr. John Fredriksen1 and a member of the Seatankers Group, today announced that it has accumulated through open market transactions approximately 5.0% of the common shares of Valaris Limited (NYSE: VAL) (“Valaris”) and has executed a support agreement with Valaris reflecting the Seatankers Group's support of and commitment to the Company. The Seatankers Group holds sign

Famatown Comments on Valaris Investment

HAMILTON, Bermuda--(BUSINESS WIRE)--Valaris Limited (NYSE: VAL) ("Valaris" or the "Company") today announced that its Board of Directors has appointed Mr. Anton Dibowitz as President and Chief Executive Officer, effective immediately. Mr. Dibowitz, who has been serving as interim President and Chief Executive Officer of Valaris since September 3, 2021, is also a member of the Company's Board of Directors. “Anton has done a tremendous job leading Valaris over the past three months and we are del

Valaris Appoints Anton Dibowitz President and Chief Executive Officer

Valaris Limited (VAL) Interim CEO Anton Dibowitz on Q3 2021 Results - Earnings Call Transcript

HAMILTON, Bermuda--(BUSINESS WIRE)--Valaris Limited (NYSE: VAL) ("Valaris" or the "Company") today reported third quarter 2021 results. Interim President and Chief Executive Officer Anton Dibowitz said, “Valaris' best in class team continues to deliver at a high level for our customers, as demonstrated by achieving 99% revenue efficiency during the third quarter and year to date. This performance, combined with a high quality fleet and deep customer relationships, has enabled us to continue tra

Valaris Reports Third Quarter 2021 Results

HAMILTON, Bermuda--(BUSINESS WIRE)--Valaris Limited (NYSE: VAL) announced today that it has been awarded a two-year contract with Esso Exploration Angola, an affiliate of ExxonMobil, offshore Angola for drillship VALARIS DS-9. The rig is currently preservation stacked in the Canary Islands, where it will be reactivated and then mobilized to Angola ahead of the anticipated contract commencement in June 2022. About Valaris Limited Valaris Limited (NYSE: VAL) is the industry leader in offshore dri

Valaris Announces Floater Contract Award

HAMILTON, Bermuda--(BUSINESS WIRE)--Valaris Limited (NYSE: VAL) ("Valaris" or the "Company") announced today that ultra-deepwater drillship VALARIS DS-12 has become the first vessel in the world to receive the ABS Enhanced Electrical System Notation EHS-E. Valaris upgraded the vessel's electrical system to secure the notation, which recognizes sophisticated system design to improve reliability and enhance protection. The Valaris electrical system is specifically designed to allow the drillship

Valaris Drillship Achieves ABS Enhanced Electrical System Notation in World First

HAMILTON, Bermuda--(BUSINESS WIRE)--Valaris Limited (NYSE: VAL) ("Valaris" or the "Company") will hold its third quarter 2021 earnings conference call at 9:00 a.m. CDT (10:00 a.m. EDT and 2:00 p.m. London) on Tuesday, November 2, 2021. The earnings release will be issued before the New York Stock Exchange opens that morning. The conference call will be webcast live at www.valaris.com. Alternatively, callers may dial +1-855-239-3215 within the United States or +1-412-542-4130 from outside the U.

Valaris Schedules Third Quarter 2021 Earnings Release and Conference Call

HAMILTON, Bermuda--(BUSINESS WIRE)--Valaris Limited (NYSE: VAL) announced today that it has been awarded a 211-day extension to its bareboat charter agreement with ARO Drilling for VALARIS JU-36 (Charles Rowan), a standard duty jackup. The extension is in direct continuation of the existing contract and, as a result, the VALARIS JU-36 will be under contract through March 2022. ARO Drilling's contract with Aramco has been extended for the same period. About Valaris Valaris Limited (NYSE: VAL) is

Valaris Announces Jackup Contract Award

HAMILTON, Bermuda--(BUSINESS WIRE)--Valaris Limited (NYSE: VAL) ("Valaris" or the "Company") announced today that its 2021 Sustainability Report and Environmental, Social and Governance (ESG) Position Statement have been endorsed by the Valaris Executive Management Team and the ESG Committee of its Board of Directors. The Sustainability Report and ESG Position Statement can be found on the "Safety & Environment ‒ Sustainability" page of the Valaris website at www.valaris.com. The ESG Positi

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