Valaris books $150 million rig contracts in Gulf of Mexico and Australia

Drilling contractor Valaris has won five new charters for three of its rigs in the US Gulf of Mexico and Australia worth a combined $150 million in order backlog.

A pair of contracts is for the semi-submersible rig DPS-5, which is about to conclude its charter with Eni offshore Mexico.

Valaris said US operator Occidental Petroleum has contracted the rig for a two-well campaign in the US Gulf of Mexico. The $22 million charter is expected to begin this month and last a minimum of 60 days.

The DPS-5 has also been hired by US independent Apache for a plug and abandonment job in the region.

The programme is earmarked for September, after the DPS-5 completes the two wells for Occidental, and has a minimum duration of 110 days.

In Australia, Valaris has been awarded a 180-day contract with an undisclosed company for the heavy duty jack-up drilling rig Valaris 107. The charter is due to commence in the first quarter of 2024 for a dayrate of $180,000.

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The Valaris 107 will also be employed by another operator offshore Australia for a one-year period, with the contract set to start in October 2024 for a dayrate of $150,000.

The company also reported its ultra-harsh environment jack-up rig Valaris 247 secured a two-well contract with a major Australian operator.

Valaris said the 100-day contract carries a dayrate of $180,000 and is expected to begin in mid-2024.

Valaris added it will receive a mobilisation and demobilisation fee to cover operating costs while the rig is in transit. The Valaris 247 is presently drilling for Perenco in the UK North Sea.