Offshore drilling contractor Valaris on Wednesday announced multiple contracts and contracts extensions worth $181 million in total for its offshore drilling rigs. The contracts were awarded after Valaris last issued its fleet status report on February 21, 2022.
Valaris said it had received two-year contract extensions with BP in the U.S. Gulf of Mexico for managed rigs Mad Dog and Thunder Horse. The contract extensions were effective on January 27, 2022.
In Brazil, TotalEnergies has awarded a one-well contract for the Valaris DS-15 drillship. The option well is in direct continuation of the current firm program and has an estimated duration of 100 days.
Further, ARO Drilling awarded a three-year contract with Saudi Aramco for standard duty modern jackup Valaris 140.
The contract is related to the previously announced three-year bareboat charter agreement between Valaris and ARO Drilling. The contract backlog associated with the bareboat charter agreement is included in the total contract backlog of $181 million awarded subsequent to issuing the company’s most recent fleet status report on February 21, 2022.
Also, Valaris said that the previously disclosed contract awarded to Valaris DS-11 (ex-Atwood Advantage/Ensco DS-11) drillship for an eight-well contract for a deepwater project in the U.S. Gulf of Mexico has been novated from TotalEnergies to Equinor.
Valaris said there were no material changes to the contract resulting from the novation, including with respect to the termination provisions in the event the project does not receive final investment decision (FID). While Valaris did not share further details on this project, it is possible that this is related to the North Platte project in the U.S. Gulf of Mexico from which TotalEnergies decided to withdraw in February.
Finally, the Valaris 67 jack-up rig, in service since 1976, has been sold and retired from the offshore drilling fleet.
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