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Highlights
• 940-day contract extension for VALARIS DS-16 begins in June 2026
• New 914-day contract for VALARIS DS-18 starts in mid-Q4 2026
• Combined backlog increase from both contracts is approximately USD 760 million

Valaris Limited (NYSE: VAL) has announced two contract awards involving its ultra-deepwater drillships, resulting in a combined addition of approximately USD760 million to its contracted revenue backlog.

A 940-day extension was secured for VALARIS DS-16, with the contract scheduled to begin in June 2026. Additionally, VALARIS DS-18 was awarded a new 914-day contract, expected to commence in the mid-fourth quarter of 2026. Both agreements are with Anadarko Petroleum Corporation, a wholly owned subsidiary of Occidental, for operations in the Gulf of Mexico.

According to Valaris, the year-to-date total of new contract backlog, including these awards, now stands at approximately USD1.9 billion. No day rate or margin details were disclosed in the announcement.