Valaris issued its fleet updates status with a slew of new contracts for their floaters. Below are the highlights:
Floaters
- VALARIS DS-18 (Relentless) contract extended due to the exercise of a one-well priced option with EnVen in the U.S. Gulf of Mexico, with an estimated duration of 45 days from March 2020 to April 2020; the rig has also been awarded a two-well contract with an undisclosed operator in the U.S. Gulf of Mexico that is expected to commence in July 2020, with an estimated duration of 180 days
- VALARIS DS-15 (Renaissance) awarded a one-well contract with Eni in the U.S. Gulf of Mexico, which commenced in November 2019, with a duration of 30 days; the rig has also had a contract extended due to the exercise of a one-well priced option with Murphy in the U.S. Gulf of Mexico, with an estimated duration of 45 days from late March 2020 to early May 2020; and has been awarded a two-well contract with CNOOC offshore Mexico that is expected to commence in May 2020, with an estimated duration of 160 days
- VALARIS DS-12 awarded a one-well contract with BP offshore Egypt, with an estimated duration of 120 days from February 2020 to June 2020
- VALARIS DS-10 contract extended due to the exercise of a one-year priced option with Shell offshore Nigeria from March 2020 to March 2021
- VALARIS DS-9 awarded a one-well contract with Premier Oil offshore Brazil that is expected to commence in July 2020, with an estimated duration of 60 days
- VALARIS DS-7 awarded a five-well contract with BP offshore Senegal and Mauritania that is expected to commence in September 2020, with an estimated duration of approximately 320 days
- VALARIS 8503 contract with Kosmos in the U.S. Gulf of Mexico extended by approximately 80 days from early April 2020 to late June 2020 to complete the well in-progress
- VALARIS MS-1 awarded a one-well contract with an undisclosed operator offshore Australia that is expected to commence in July 2020, with an estimated duration of approximately 120 days
Jackups
- VALARIS JU-292 (Norway) contract extended due to the exercise of a six-well priced option with ConocoPhillips offshore Norway, with an estimated duration of 300 days from early May 2020 to late February 2021
- VALARIS JU-290 (Viking) contract to provide accommodation services with Repsol offshore Norway extended by approximately 50 days from early February 2020 to late March 2020
- VALARIS JU-249 (Gorilla VII) contract with Chrysaor in the North Sea extended by approximately 200 days from early November 2019 to late May 2020
- VALARIS JU-144 (EXL II) awarded a 12-well contract with Eni offshore Mexico that is expected to commence in September 2020, with an estimated duration of two years
- VALARIS JU-122 contract extended due to the exercise of a one-well priced option with Shell in the North Sea, with an estimated duration of 150 days from November 2020 to April 2021
- VALARIS JU-117 (Ralph Coffman) contract extended due to the exercise of a two well priced option with an undisclosed operator offshore Trinidad, with an estimated duration of 60 days from February 2020 to April 2020
- VALARIS JU-115 contract extended due to the exercise of a four-month priced option with Mubadala Petroleum offshore Thailand from March 2020 to July 2020
- VALARIS JU-107 contract extended due to the exercise of a one-well priced option with Chevron offshore Australia, with an estimated duration of 30 days from late February 2020 to late March 2020; the rig has also been awarded a two-well contract with Jadestone Energy offshore Australia, with an estimated duration of 115 days from June 2020 to September 2020
- VALARIS JU-101 awarded a three-well contract with Ithaca Energy in the North Sea that is expected to commence in March 2020, with an estimated duration of 45 days
- VALARIS JU-87 awarded a 21-well contract with Exxon in the U.S. Gulf of Mexico, which commenced in November 2019, with an estimated duration of 295 days
- VALARIS JU-75 awarded a one-well contract with Walter Oil & Gas in the U.S. Gulf of Mexico, which commenced in late December 2019, with an estimated duration of 40 days; the rig has also been awarded a one-well contract with W&T Offshore in the U.S. Gulf of Mexico that is expected to commence in February 2020, with an estimated duration of 30 days
Other
- Upon completing its previous contract in January 2020, VALARIS 6002 was sold and retired from the offshore drilling fleet
- VALARIS 5006 sold and retired from the offshore drilling fleet
- Upon completing its last contract in October 2019, VALARIS JU-96 was sold and retired from the offshore drilling fleet
- VALARIS JU-70 classified as held for sale
- VALARIS JU-68 sold and retired from the offshore drilling fleet
Source: Valaris
Check out our other current stories!
