VAL - Valaris Strikes $519M Drillship Deal with Petrobras Eyes Soaring Earnings in Rig Reshuffle | Benzinga
Valaris Ltd (NYSE: VAL) won a 1,064-day contract for drillship VALARIS DS-4 from Petroleo Brasileiro S.A.- Petrobras (NYSE: PBR) offshore Brazil for around $519 million, including mobilization fees and additional services.
The company won the contract following a competitive bidding process.
Valaris expects the contract to start late in Q4 2024, following the completion of the rig's current contract with Petrobras, which is projected to finish in September ...