Welcome to our dedicated page for Valaris news (Ticker: VAL), a resource for investors and traders seeking the latest updates and insights on Valaris stock.
Valaris Limited (VAL) is a global leader in offshore contract drilling services, operating across six-continent footprint with specialized rig fleets. This news hub provides investors and industry professionals with comprehensive updates on company developments, strategic initiatives, and market positioning.
Access official press releases, earnings reports, and operational updates covering Valaris' Floaters, Jackups, and ARO segments. Our curated collection features contract awards, fleet status reports, and management changes impacting this NYSE-listed drilling specialist.
Key updates include deepwater drilling contracts, jackup rig deployments, and operational safety milestones. Stay informed about VAL's technological innovations in harsh-environment drilling and third-party rig management services through verified sources.
Bookmark this page for real-time updates on Valaris' global operations across key offshore basins. Monitor how the company navigates energy market dynamics through its diversified service offerings and fleet optimization strategies.
Valaris (NYSE: VAL) has announced its upcoming first quarter 2025 earnings release and conference call schedule. The earnings release will be published before the NYSE opens on Thursday, May 1, 2025, followed by a conference call at 9:00 a.m. CDT (10:00 a.m. EDT).
Investors can access the conference call through a live webcast on www.valaris.com or by dialing +1-855-239-3215 (US) or +1-412-542-4130 (international). A webcast replay and transcript will be available on the company's website, while a telephonic replay will be accessible through June 1, 2025, via +1-877-344-7529 (US) or +1-412-317-0088 (international) using conference ID 6077732.
Valaris (NYSE: VAL) has secured a significant two-year contract for its drillship VALARIS DS-10 offshore West Africa. The contract, valued at $352 million for the firm term, is expected to commence in late Q2 or Q3 2026. The agreement includes two additional one-year unpriced extension options.
The contract value excludes the provision of additional services. President and CEO Anton Dibowitz highlighted that this award reflects the excellent safety and operational performance record of VALARIS DS-10 and its crews in West African operations. The contract adds approximately $350 million to the company's backlog, supporting future earnings and cash flow.
Valaris (NYSE: VAL) has announced its participation in the upcoming DNB Energy & Shipping Conference 2025 in Oslo, Norway. The company's President and Chief Executive Officer, Anton Dibowitz, will serve as a panelist at the event scheduled for Wednesday, March 5, 2025.
The company will make investor materials available on their website www.valaris.com before the conference begins.
Valaris (NYSE: VAL) reported strong Q4 2024 results with net income of $131 million, up from $63 million in Q3, and Adjusted EBITDA of $142 million. The company achieved 96% fleet-wide revenue efficiency in Q4 and 97% for the full year.
Revenue excluding reimbursables decreased to $548 million from $600 million in Q3, primarily due to lower floater fleet utilization. The company generated $125 million in operating cash flow and $13 million in Free Cash Flow, while repurchasing $25 million of shares.
Valaris secured approximately $120 million of new contract backlog, including a multi-year contract for jackup VALARIS Stavanger in the North Sea. The company announced plans to retire three semisubmersibles (DPS-3, DPS-5, and DPS-6) and sold jackup VALARIS 75 for $24 million in Q1 2025.
Valaris (NYSE: VAL) announced significant fleet rationalization actions and issued a Fleet Status Report. The company is retiring three semisubmersibles (VALARIS DPS-3, DPS-5, and DPS-6) from its global drilling fleet and has sold the jackup VALARIS 75 for $24 million.
The company secured new contracts and extensions worth approximately $120 million in contract backlog, including a notable 600-day extension with TotalEnergies worth over $75 million for the VALARIS Stavanger in the UK North Sea. Additional contracts include a 100-day contract with BP offshore Trinidad ($16.8 million) and various other agreements including a contract with Jadestone Energy and an extension with BP Indonesia at $95,000 per day.
Three jackups (VALARIS 116, 146, and 250) received short-term bareboat charter agreement extensions through February 28, 2025, with ARO Drilling, while discussions continue with Saudi Aramco for longer-term extensions.
Valaris (NYSE: VAL) has announced its fourth quarter 2024 earnings conference call schedule. The call will take place on Thursday, February 20, 2025, at 9:00 a.m. CST (10:00 a.m. EST). The earnings release will be issued before the NYSE opening on the same day.
Investors can access the conference call through a live webcast at www.valaris.com or by dialing +1-855-239-3215 (US) or +1-412-542-4130 (international). A webcast replay and transcript will be available on the company's website, and a replay will be accessible until March 20, 2025, via phone using conference ID 1925274.
Valaris (NYSE: VAL) reported strong Q3 2024 results with net income of $63 million and Adjusted EBITDA of $150 million. The company achieved 98% revenue efficiency and generated $193 million in operating cash flow and $111 million in free cash flow. Revenues increased to $643 million from $610 million in Q2 2024. The company repurchased $100 million of shares and secured a three-year contract extension for jackup VALARIS 118, adding $168 million to contract backlog. Despite some deferred customer demand, management remains confident in the market upcycle and commits to returning future free cash flow to shareholders.
Valaris (NYSE: VAL) has announced its schedule for the third quarter 2024 earnings release and conference call. The earnings release will be issued before the New York Stock Exchange opens on Thursday, October 31, 2024. The conference call is set for 9:00 a.m. CST (10:00 a.m. EST) on the same day.
Investors can access the conference call via webcast at www.valaris.com or by dialing +1-855-239-3215 within the United States or +1-412-542-4130 from outside the U.S. A webcast replay and transcript will be available on the company's website, and a replay will be accessible through November 30, 2024, by dialing specific numbers provided in the press release.
Valaris (NYSE: VAL) has announced that its President and CEO, Anton Dibowitz, will present at the Barclays CEO Energy-Power Conference in New York City on Tuesday, September 3, 2024, at 1:50 pm EDT. Investor materials for the conference will be available on Valaris' website (www.valaris.com) on the morning of the event.
A live webcast of the presentation will be accessible in the 'Investors – Events & Presentations' section of the company's website. Additionally, a replay of the presentation will be available for 180 days following the conference's conclusion. This event provides an opportunity for investors and analysts to gain insights into Valaris' operations and strategy directly from its top executive.
Valaris (NYSE: VAL) reported strong Q2 2024 results, with net income of $151 million, up from $26 million in Q1. Adjusted EBITDA increased to $139 million from $54 million, driven by higher utilization and average daily revenue for both floater and jackup fleets. Revenues rose to $610 million, up 16% from Q1. The company achieved 99% revenue efficiency and secured a new multi-year contract for VALARIS DS-17, adding nearly $500 million to its backlog. Total contract backlog grew to over $4.3 billion as of July 29, 2024, marking the seventh consecutive quarter of growth. Valaris expects significant earnings and cash flow growth in the coming years, with plans to return all future free cash flow to shareholders.
