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Valaris Limited - VAL STOCK NEWS

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 (NYSE: VAL) is a leading global provider of offshore drilling services to the petroleum industry. The company owns and operates one of the world’s newest and most advanced fleets of ultra-deepwater drilling rigs and premium jackups. Valaris is committed to delivering high-quality drilling services across various strategic offshore basins, including the U.S. Gulf of Mexico, Brazil, Europe, the Middle East, Africa, Asia, and the Pacific Rim.

Valaris offers a comprehensive range of drilling solutions, operating in four key segments: Floaters, Jackups, ARO, and Others. The majority of the company’s revenue is generated from its Floaters segment, which includes both drillships and semisubmersible rigs. Valaris is dedicated to excellence in operational performance, maintaining high safety standards, and fostering ethical practices.

Recent achievements and ongoing projects highlight Valaris's commitment to growth and innovation. The company has been heavily investing in the expansion of its fleet, with billions of dollars allocated towards new drillships and high-specification jackups. Valaris recruits top talent in the industry, offering extensive training and competency assurance programs to ensure employees are well-equipped to meet the company’s high operating standards.

Valaris's strategic partnerships further enhance its market position. For example, its joint venture with ARO Drilling in Saudi Arabia allows Valaris to leverage local expertise and resources, contributing to the company's global reach and operational success.

Financially, Valaris continues to focus on maintaining a strong balance sheet while pursuing strategic investments that drive long-term value for shareholders. Its robust financial management practices and commitment to operational efficiency position the company well for future growth and stability.

For the latest news and updates on Valaris Limited, including performance, events, and developments, stay tuned to our website.

News

Valaris Schedules First Quarter 2024 Earnings Release and Conference Call

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Valaris (VAL) announces its first quarter 2024 earnings conference call scheduled for May 2, 2024. The call will be webcast live on their website, with a replay available. Investors and stakeholders can access the call through various means.
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Valaris Announces Contract Suspension for Jackup VALARIS 143

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Valaris (VAL) joint venture in Saudi Arabia, ARO Drilling, receives suspension notice from Aramco for rig VALARIS 143 (EXL I) for up to twelve months. ARO in talks with Aramco to finalize suspension details.
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Valaris Reports Fourth Quarter 2023 Results

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Valaris Limited (VAL) reported strong fourth-quarter 2023 results with net income of $829 million, adjusted EBITDA of $58 million, and contract backlog exceeding $3.9 billion. The company's focus on operational efficiency and customer relationships led to significant revenue growth and new contract awards. Despite positive financial highlights, Valaris experienced a decrease in cash and cash equivalents due to capital expenditures and share repurchases.
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Valaris Issues Fleet Status Report

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Valaris Limited (VAL) issues Fleet Status Report detailing offshore drilling rigs and contract information.
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Valaris Schedules Fourth Quarter 2023 Earnings Release and Conference Call

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Valaris Limited (NYSE: VAL) will hold its fourth-quarter 2023 earnings conference call on February 22, 2024. The earnings release will be issued before the New York Stock Exchange opens. Participants can access the call via webcast or phone. The webcast replay and transcript will be available on the Company’s website. Valaris uses its website to disclose material and non-material information to investors, customers, employees, and others interested in the Company.
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Valaris Announces Contract Awards and Fleet Status Updates

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Valaris Limited (VAL) announces new contracts and extensions with a contract backlog of approximately $1.14 billion, demonstrating positive outlook and attractive economics. The awards include multi-year drillship contracts and jackup contracts across the North Sea, Trinidad, and Australia.
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Valaris Announces Multi-Year Contract Award for Drillship VALARIS DS-4

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Valaris Limited (VAL) has been awarded a 1,064-day contract for drillship VALARIS DS-4 with Petrobras offshore Brazil, with a total contract value of approximately $519 million. The contract is expected to commence late in the fourth quarter of 2024, following completion of the rig’s current contract with Petrobras, and the rig is expected to be out of service for approximately 90 days for customer-required upgrades. President and CEO Anton Dibowitz expressed delight in securing further work with Petrobras, anticipating increased earnings and cash flow as rigs are recontracted at market rates.
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Valaris Takes Delivery of Newbuild Drillships VALARIS DS-13 and DS-14

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Valaris Limited (VAL) exercises options and takes delivery of newbuild drillships VALARIS DS-13 and DS-14 for approximately $337 million. President and CEO Anton Dibowitz expresses excitement over the addition of the two rigs, increasing the drillship fleet to 13 and reinforcing its position as one of the most technically capable in the industry. The purchase is expected to increase the Company’s fourth quarter 2023 capital expenditures by approximately $355 million, with an additional $35 million in 2024.
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Valaris Reports Third Quarter 2023 Results

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Valaris Limited (NYSE: VAL) reported third quarter 2023 results with net income of $17 million, Adjusted EBITDA of $40 million, and revenue efficiency of 94%. The company was awarded new contracts and extensions worth approximately $465 million during the quarter, and an additional $335 million worth of contracts following quarter end. Valaris remains confident in the strength and duration of the current market upcycle.
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Valaris Issues Fleet Status Report

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Valaris Limited (NYSE: VAL) has issued a Fleet Status Report, detailing the current status and contract information of the Company's offshore drilling rigs. The report can be found on Valaris' website.
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FAQ

What is the current stock price of Valaris (VAL)?

The current stock price of Valaris (VAL) is $41.22 as of December 20, 2024.

What is the market cap of Valaris (VAL)?

The market cap of Valaris (VAL) is approximately 2.9B.

What does Valaris Limited do?

Valaris Limited provides offshore drilling services to the petroleum industry, operating a fleet of ultra-deepwater drillships and premium jackups.

Where does Valaris operate?

Valaris operates in major offshore basins including the U.S. Gulf of Mexico, Brazil, Europe, the Middle East, Africa, Asia, and the Pacific Rim.

What are the main segments of Valaris's business?

Valaris's business is divided into four segments: Floaters, Jackups, ARO, and Others. The Floaters segment generates the majority of the company's revenue.

What recent investments has Valaris made?

Valaris has invested billions of dollars in expanding its fleet with new drillships and high-specification jackups.

How does Valaris ensure the quality of its services?

Valaris recruits top industry talent and offers extensive training and competency assurance programs to maintain high operating standards.

What strategic partnerships does Valaris have?

Valaris has a joint venture with ARO Drilling in Saudi Arabia, enhancing its global reach and operational capabilities.

Is Valaris financially stable?

Yes, Valaris focuses on maintaining a strong balance sheet and pursuing strategic investments to drive long-term shareholder value.

How can I stay updated with Valaris's latest news?

You can stay updated with Valaris's latest news and developments by visiting their official website.

What is the ticker symbol for Valaris Limited?

The ticker symbol for Valaris Limited is VAL, and it is listed on the New York Stock Exchange.

What is the company culture like at Valaris?

Valaris instills a culture centered on high ethical standards, a commitment to safety, operational excellence, and a can-do attitude.

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Valaris Limited

NYSE:VAL

VAL Rankings

#1681 Ranked by Market Cap
N/A Ranked by Dividends

VAL Stock Data

2.91B
64.00M
9.93%
98.01%
12.1%
Oil & Gas Equipment & Services
Drilling Oil & Gas Wells
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United States of America
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