Valaris Secures Contract Extensions and New Deal with Anadarko Petroleum Corporation

Bermuda-incorporated offshore drilling contractor Valaris Limited has recently announced a significant milestone in its operations. The company has secured a contract extension for one of its drillships and a new contract for another with Anadarko Petroleum Corporation, a wholly-owned subsidiary of Occidental, in the Gulf of America.

The first contract extension is for the drillship Valaris DS-16, a GustoMSC P10,000 design vessel built by Hyundai Heavy Industries. The 940-day extension is expected to commence in June 2026, further solidifying Valaris’ presence in the region. Additionally, a new 914-day contract has been awarded for Valaris DS-18, another high-specification drillship of the same design delivered in 2015.

Valaris’ President and CEO, Anton Dibowitz, expressed his satisfaction with the new contracts, stating, “We’ve secured approximately $1.9 billion in new contract backlog so far this year, reflecting solid execution of our commercial strategy and our ability to deliver safe and efficient operations for our customers.” Dibowitz emphasized the company’s commitment to securing long-term contracts for its assets to support earnings and cash flow.

With the addition of these contracts, Valaris has further bolstered its backlog, which now stands at $4.2 billion. The company has been successful in securing new contracts, with approximately $1 billion in new deals since its previous fleet status report. This growth in backlog reflects Valaris’ continued focus on delivering value to its customers.

In addition to its recent successes, Valaris’ joint venture with Aramco, ARO Drilling, also achieved contract extensions for five of its rigs in May. The company’s strong performance and ability to secure new contracts highlight its position as a leader in the offshore drilling industry.