* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Monday, July 7, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Government whip to withdraw Entertainment Complex Bill on July 9 – Nation Thailand

    Government whip to withdraw Entertainment Complex Bill on July 9 – Nation Thailand

    Magicians and Battlebots light up Las Vegas entertainment scene – KSNV

    Magicians and Battlebots Take Las Vegas Entertainment by Storm

    Max-Matching Entertainments & Longhua District form partnership for new entertainment complex – Blooloop

    Max-Matching Entertainments and Longhua District Unite to Launch Thrilling New Entertainment Complex

    Kennedy Publishing, MGA Entertainment Launch Yummiland Magazine – License Global

    Kennedy Publishing, MGA Entertainment Launch Yummiland Magazine – License Global

    MAY HER SOUL REST IN PEACE 🙏 Veteran entertainment columnist and talent manager Lolit Solis has passed away. She was 78 years old. https://tinyurl.com/6kumarkx | LatestChika.com – Facebook

    Beloved Entertainment Icon Lolit Solis Passes Away at 78 – A Life Remembered with Love and Respect 🙏

    Neil Young Plays Rare Full-Band ‘Ambulance Blues’ With The Chrome Hearts – Yahoo

    Neil Young Stuns Fans with Rare Full-Band Performance of ‘Ambulance Blues’ Alongside The Chrome Hearts

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Technology And Construction Names Join Top Stock Lists: Check Out Additions To IBD 50, Big Cap 20 And More – Investor’s Business Daily

    Technology and Construction Leaders Surge Into Top Stock Rankings: See the Latest Additions to IBD 50, Big Cap 20, and More

    Column: Teach kupuna new technology skills – Honolulu Star-Advertiser

    Empowering Kupuna: Unlocking New Technology Skills for a Connected Future

    EIFO invests $5 million in D3, the Ukraine-focused defence technology venture fund – sUAS News

    EIFO Pledges $5 Million to Supercharge Ukraine-Focused Defense Technology Fund

    New Technology for Water Efficiency and Working with Mexico on Screwworm – AG INFORMATION NETWORK OF THE WEST

    Revolutionary Water Efficiency Technology and Cross-Border Collaboration to Defeat Screwworm

    Environmental cognitive distance, R&D capability distance, and supply chain green technology innovation – Nature

    Bridging Gaps: How Environmental and R&D Differences Drive Green Technology Innovation in Supply Chains

    LG Innotek CEO Moon Hyuksoo: “Our Next-gen Substrate Technology Will Change the Industry Paradigm” – TechPowerUp

    LG Innotek CEO Moon Hyuksoo: “Our Next-Gen Substrate Technology Will Revolutionize the Industry” Revolutionizing the Future: LG Innotek’s CEO Unveils Game-Changing Next-Gen Substrate Technology

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Government whip to withdraw Entertainment Complex Bill on July 9 – Nation Thailand

    Government whip to withdraw Entertainment Complex Bill on July 9 – Nation Thailand

    Magicians and Battlebots light up Las Vegas entertainment scene – KSNV

    Magicians and Battlebots Take Las Vegas Entertainment by Storm

    Max-Matching Entertainments & Longhua District form partnership for new entertainment complex – Blooloop

    Max-Matching Entertainments and Longhua District Unite to Launch Thrilling New Entertainment Complex

    Kennedy Publishing, MGA Entertainment Launch Yummiland Magazine – License Global

    Kennedy Publishing, MGA Entertainment Launch Yummiland Magazine – License Global

    MAY HER SOUL REST IN PEACE 🙏 Veteran entertainment columnist and talent manager Lolit Solis has passed away. She was 78 years old. https://tinyurl.com/6kumarkx | LatestChika.com – Facebook

    Beloved Entertainment Icon Lolit Solis Passes Away at 78 – A Life Remembered with Love and Respect 🙏

    Neil Young Plays Rare Full-Band ‘Ambulance Blues’ With The Chrome Hearts – Yahoo

    Neil Young Stuns Fans with Rare Full-Band Performance of ‘Ambulance Blues’ Alongside The Chrome Hearts

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Technology And Construction Names Join Top Stock Lists: Check Out Additions To IBD 50, Big Cap 20 And More – Investor’s Business Daily

    Technology and Construction Leaders Surge Into Top Stock Rankings: See the Latest Additions to IBD 50, Big Cap 20, and More

    Column: Teach kupuna new technology skills – Honolulu Star-Advertiser

    Empowering Kupuna: Unlocking New Technology Skills for a Connected Future

    EIFO invests $5 million in D3, the Ukraine-focused defence technology venture fund – sUAS News

    EIFO Pledges $5 Million to Supercharge Ukraine-Focused Defense Technology Fund

    New Technology for Water Efficiency and Working with Mexico on Screwworm – AG INFORMATION NETWORK OF THE WEST

    Revolutionary Water Efficiency Technology and Cross-Border Collaboration to Defeat Screwworm

    Environmental cognitive distance, R&D capability distance, and supply chain green technology innovation – Nature

    Bridging Gaps: How Environmental and R&D Differences Drive Green Technology Innovation in Supply Chains

    LG Innotek CEO Moon Hyuksoo: “Our Next-gen Substrate Technology Will Change the Industry Paradigm” – TechPowerUp

    LG Innotek CEO Moon Hyuksoo: “Our Next-Gen Substrate Technology Will Revolutionize the Industry” Revolutionizing the Future: LG Innotek’s CEO Unveils Game-Changing Next-Gen Substrate Technology

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home News

Valaris rigs collect $1.2 billion for drilling jobs spanning geographies

February 17, 2024
in News
Valaris rigs collect $1.2 billion for drilling jobs spanning geographies
Share on FacebookShare on Twitter

Home Fossil Energy Valaris rigs collect $1.2 billion for drilling jobs spanning geographies

Offshore drilling contractor Valaris has landed a batch of new contracts and extensions across multiple geographies with Petrobras, Equinor, Harbour Energy, TotalEnergies, Shell, Ithaca Energy, Eni, undisclosed operators, and Anadarko Petroleum Corporation, a wholly-owned subsidiary of Occidental (Oxy). These deals will enable three floaters and six jack-ups in the rig owner’s fleet to undertake drilling operations in Brazil, the U.S. Gulf of Mexico, the UK sector of the North Sea, Australia, and Trinidad.

Valaris DS-17 drillship; Source: Equinor

Within its fleet status report on Friday, February 16, 2024, Valaris announced a series of rig deals for its floater and jack-up fleet, which were obtained after its previous fleet status report from November 2023, when the firm disclosed new contracts and extensions with an associated contract backlog of approximately $480 million, which lifted its total contract backlog to $3.2 billion. 

In the wake of multiple new contract awards and extensions with an associated contract backlog of about $1.2 billion, excluding lump sum payments such as mobilization fees and capital reimbursements, the company’s total contract backlog jumped to $3.9 billion.

Floaters booked for work in Brazil and Gulf of Mexico

A 1,064-day contract with Petrobras has been confirmed for the Valaris DS-4 drillship in Brazil. This deal comes with a total contract value of approximately $519 million, inclusive of mobilization fees and additional services. This assignment is expected to start late in 4Q 2024, following the completion of the rig’s current contract with the Brazilian giant, which is expected to finish in September 2024.

The rig will be out of service for around 90 days after it wraps up its current contract to get customer-required capital upgrades out of the way before the beginning of the new contract. The 2010-built Valaris DS-4 drillship is of Samsung 96k design and it was constructed at Samsung Heavy Industries, Geoje, South Korea. With a maximum drilling depth of 40,000 ft, the rig is capable of operating in water depths of 12,000 ft and can accommodate 200 people.

The new contract with Petrobras will enable the drillship to carry out operations at the Búzios deepwater field. The current development concept for this field encompasses 11 platforms. At the moment, six units are under construction, including the FPSO Almirante Tamandaré, P-78, P-79, P-80, P-82, and P-83. Petrobras is the operator of the field, with an 88.99% stake with CNOOC (7.34%) and CNODC (3.67%) as partners.

Moreover, a two-year contract extension has been secured with Anadarko Petroleum Corporation in the U.S. Gulf of Mexico for the Valaris DS-16 drillship, starting in June 2024 in direct continuation of the existing firm program. This extension replaces the one-year priced option which was agreed in July 2021. An additional day rate will be charged when MPD services are provided.

The 2014-built Valaris DS-16 drillship is of GustoMSC P10000 design. Constructed at Hyundai Heavy Industries, the rig is capable of operating in water depths of 12,000 ft and can accommodate 210 people. The drillship’s maximum drilling depth is 40,000 ft.

In addition, a 60-day priced option has been exercised by Equinor in Brazil for the Valaris DS-17 drillship. This is expected to kick off in March 2025 in direct continuation of the existing firm contract. The operating day rate for the priced option period is about $447,000, including MPD and additional services. The Valaris DS-17 drillship shares the same specifications as the Valaris DS-16 drillship.

Jack-ups score new assignments in UK, Australia, and Trinidad

A three-year contract extension in the UK North Sea, which has been awarded by Harbour Energy for the Valaris 120 heavy-duty harsh environment jack-up rig, will commence in the third quarter of 2025 in direct continuation of the existing firm program. With a maximum drilling depth of 40,000 ft, the 2013-built Valaris 120 rig, which can accommodate 150 persons, has been working for Harbour Energy since July 2017.

A 330-day contract, excluding options, has been secured with TotalEnergies in the UK North Sea for the Valaris JU-291 (Stavanger) heavy-duty ultra-harsh environment jack-up rig. The new deal, which is expected to begin in March 2024, comes with an approximate total contract value of $48 million, including minor rig modifications. The 2011-built JU-291 jack-up rig is of Keppel FELS N-Class design and can accommodate 140 people. The rig’s maximum drilling depth is 35,000 ft.

Furthermore, Shell has exercised two one-well-priced options in the UK North Sea with an estimated duration of 406 days for the Valaris 121 heavy-duty harsh environment jack-up rig, which is expected to start this work in the summer of 2024, in direct continuation of the existing firm program. These options have an estimated total contract value of approximately $55 million.

Prior to its assignment with Shell, the rig worked for Petrofac. The 2013-built rig also worked for Harbour Energy from July 2021 until November 2022 in the UK. The Valaris 121 jack-up rig can accommodate 150 people. The rig’s maximum drilling depth is 40,000 ft.

Ithaca Energy has hired the Valaris 123 heavy-duty harsh environment jack-up rig on a one-well contract in the UK North Sea. This deal is slated to commence in April 2024 and has an estimated duration of between 45 and 72 days. The minimum total contract value is $6.3 million.

The rig also won a two-well contract with Shell in the UK North Sea, which is expected to start in June 2024. The contract, which has an estimated duration of 154 days, comes with an estimated total value of around $21 million. The 2019-built Valaris 123 Keppel FELS, Ultra-Enhanced Super ‘A’ Class jack-up rig comes with a maximum drilling depth of 40,000 ft and can accommodate 145 people.

Valaris got its hands on a one-well contract with Eni in Australia for the Valaris 247 heavy-duty ultra-harsh environment jack-up rig, which is scheduled to begin this work in the third quarter of 2024 in direct continuation of its current program with another operator.

The deal has a minimum duration of 45 days and the rig’s operating day rate is $180,000. Previously, the rig worked for Perenco in the UK North Sea. The Valaris 247 rig can accommodate 140 people and its maximum drilling depth is 35,000 ft.

Additionally, a one-well option was exercised by an undisclosed operator offshore Trinidad for the Valaris 249 heavy-duty ultra-harsh environment jack-up rig, extending the firm term of the contract by a minimum of 35 days. The operating day rate for the option period is $137,500.

Aside from this, a 300-day contract was also secured with an undisclosed operator in Trinidad for the same rig. This assignment is anticipated to begin in 4Q 2024 in direct continuation of a program with another operator. The operating day rate is $162,500. The 2001-built Valaris 249 LeTourneau Technologies Super Gorilla Class jack-up rig can accommodate 120 people and its maximum drilling depth is 35,000 ft.

However, a previously disclosed one-well contract with the same operator offshore Australia for the Valaris 107 heavy-duty modern jack-up rig was recently terminated. The terminated contract was expected to start in the first quarter of 2024 with an estimated duration of 60 days. The operating day rate for the terminated contract was $120,000.

What is happening with other rigs in Valaris’ fleet?

The rig owner’s Valaris DS-8 drillship embarked on a three-year contract with Petrobras offshore Brazil on December 31, 2023. The backlog associated with this contract is not included in the incremental backlog that has been awarded since the company’s most recent fleet status report.

The 2015-built Valaris DS-8 drillship, which is of Samsung GF12000 design, was constructed at Samsung Heavy Industries, Geoje in South Korea. The rig is capable of operating in water depths of 12,000 ft and can accommodate 200 people. The drillship’s maximum drilling depth is 40,000 ft.

At the end of December 2023, Valaris exercised its options and took delivery of two newbuild drillships, Valaris DS-13 and DS-14, for an aggregate purchase price of around $337 million. These rigs are being mobilized from South Korea to Las Palmas, Spain, where they will be stacked until they are contracted for work.

Posted: about 1 month ago

The offshore drilling player’s fleet status report from November 2023 shows that the Valaris DS-17 drillship has been working on a day rate of $447,000 since September 2023. As a result, the rig was picked as the company’s best-paid one in 2H 2023 based on the available day rate information.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : OffshoreEnergy – https://www.offshore-energy.biz/valaris-rigs-collect-1-2-billion-for-drilling-jobs-spanning-geographies/

Tags: collectnewsValaris
Previous Post

Multiple P&A activities on the list for UK firm under £1 million contract

Next Post

With environmental decision in place, GAZ-SYSTEM set to proceed with Gdańsk FSRU project

Louise Harrison – TBR News Media

Louise Harrison – TBR News Media

July 7, 2025
Cape Town’s sewage treatment isn’t coping: scientists are worried about what the city is telling the public – The Conversation

Cape Town’s Sewage Crisis: Scientists Raise Alarms Over What the City Isn’t Telling Residents

July 7, 2025
Titan Could Have An Alien Biosphere – But It Might Be Dog-Sized – ScienceAlert

Could Titan Harbor an Alien Biosphere Filled with Dog-Sized Creatures?

July 7, 2025
Retired woman shares inside look at lifestyle after moving into unconventional tiny home: ‘The best decision I’ve ever made’ – Yahoo

Retired woman shares inside look at lifestyle after moving into unconventional tiny home: ‘The best decision I’ve ever made’ – Yahoo

July 7, 2025
Box Office: ‘Jurassic World Rebirth’ Bites Into $318 Million Globally, ‘Lilo & Stitch’ Nears $975 Million – Variety

Box Office Blockbusters: ‘Jurassic World Rebirth’ Roars to $318 Million as ‘Lilo & Stitch’ Nears $975 Million Milestone

July 7, 2025
NEWS: Stablecoin Tether is money launderering ‘dream currency fuelling global shadow economy’, Economist investigation finds; in EU major rift emerges on stablecoins adoption – AML Intelligence

Stablecoin Tether Exposed as the ‘Dream Currency’ Fueling Global Money Laundering and Shadow Economy; EU Faces Major Divide Over Stablecoin Adoption

July 7, 2025
Government whip to withdraw Entertainment Complex Bill on July 9 – Nation Thailand

Government whip to withdraw Entertainment Complex Bill on July 9 – Nation Thailand

July 7, 2025
HIMS INVESTOR ALERT: Edelson Lechtzin LLP Urges Hims & Hers Health, Inc. (NYSE: HIMS) Shareholders to Consult an Attorney About the Impending Lead Plaintiff Deadline in the Securities Fraud Class Action – Morningstar

HIMS INVESTOR ALERT: Edelson Lechtzin LLP Urges Hims & Hers Health, Inc. (NYSE: HIMS) Shareholders to Consult an Attorney About the Impending Lead Plaintiff Deadline in the Securities Fraud Class Action – Morningstar

July 7, 2025
Trump says Musk has gone ‘off the rails’ after Tesla CEO announces new political party – CNBC

Trump Says Musk Has ‘Gone Off the Rails’ After Tesla CEO Launches New Political Party

July 7, 2025
Technology And Construction Names Join Top Stock Lists: Check Out Additions To IBD 50, Big Cap 20 And More – Investor’s Business Daily

Technology and Construction Leaders Surge Into Top Stock Rankings: See the Latest Additions to IBD 50, Big Cap 20, and More

July 7, 2025

Categories

Archives

July 2025
MTWTFSS
 123456
78910111213
14151617181920
21222324252627
28293031 
« Jun    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (709)
  • Economy (734)
  • Entertainment (21,622)
  • General (15,761)
  • Health (9,772)
  • Lifestyle (739)
  • News (22,149)
  • People (734)
  • Politics (743)
  • Science (15,951)
  • Sports (21,233)
  • Technology (15,718)
  • World (715)

Recent News

Louise Harrison – TBR News Media

Louise Harrison – TBR News Media

July 7, 2025
Cape Town’s sewage treatment isn’t coping: scientists are worried about what the city is telling the public – The Conversation

Cape Town’s Sewage Crisis: Scientists Raise Alarms Over What the City Isn’t Telling Residents

July 7, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version