Valaris Secures $600M in New Contracts as Backlog Rises to $4.8B

Offshore drilling contractor Valaris has secured approximately $600 million in new contracts and extensions since its previous fleet status report in August 2026, increasing its total contracted backlog to around $4.8 billion.

The latest awards cover drillships, jack-up rigs and platform drilling services across several offshore regions, with the company's backlog rising from approximately $4.6 billion reported on August 5, according to the company’s most recent fleet status update, released on November 2.

Among the new floater contracts, the VALARIS DS-18 secured a two-well exploration campaign with PETRONAS Suriname Exploration & Production offshore Suriname, expected to begin in the fourth quarter of 2026 and last up to seven months.

The contract follows a previously announced Letter of Award and excludes additional services that may be billed separately, along with mobilization and demobilization compensation.

This story was originally published by Offshore Engineer. Read the full story at Offshore Engineer →