Valaris Limited, a prominent provider of offshore drilling services, has announced an array of new contracts and extensions, contributing to a substantial increase in its associated contract backlog, which now stands at approximately $3.2 billion. The recent fleet status report, issued on August 1, indicates the company's continued success and expansion within the offshore drilling sector.

Among the notable highlights from the report is the securing of a 250-day contract extension with TotalEnergies for the drillship Valaris DS-15 offshore Brazil. This extension, expected to commence in the fourth quarter of 2024, holds a firm contract value of $100 million, excluding additional services. The contract includes provisions for multiple options, potentially raising the total contract value to approximately $210 million, underscoring Valaris' strong positioning in the offshore drilling market.

Moreover, Valaris has successfully obtained a variety of contracts and extensions, including a significant two-well contract with Eni Mexico S. de R.L. de C.V. for the semisubmersible Valaris DPS-5 offshore Mexico, with an operating day rate of $345,000, and a $3 million mobilization fee.

Additionally, the company has inked contracts with several major industry players, including Petrobras, Exxonmobil, BP, and others, reflecting its strong industry presence and sustained growth trajectory.

Furthermore, Valaris highlighted the closure of a substantial 55-well plug and abandonment contract with Eni in the East Irish Sea for the standard duty legacy jackup Valaris 72, underscoring its capabilities in providing comprehensive and reliable drilling services across different project types and regions.

The company also outlined plans for various option extensions, including a five-well option extension with BP Indonesia for the heavy-duty modern jackup Valaris 106, indicating a steady and enduring partnership with key industry players.

Overall, the recent contracts and extensions underscore Valaris' dedication to maintaining a robust portfolio and its commitment to delivering efficient, high-quality services in the offshore drilling sector.