Valaris reported nearly $900 million in new awards and extensions, lifting backlog to about $4.7 billion in its 17 February 2026 fleet status update across drillships and jackups.
Valaris Limited has signed a multi-year $300 million contract with Shell for the drillship VALARIS DS-8 on the Orca project offshore Brazil, with operations starting in Q1 2027.
Valaris DPS-1 has arrived in Labuan, Malaysia, for warm stacking after finishing a Woodside contract in Australia. Sister rig Valaris MS-1 will follow later this month, with both now the company’s only semisubs.
Valaris reports multiple contract extensions in the UK North Sea, including a 194-day extension for the VALARIS 121 from Shell and a 150-day extension with Ithaca Energy.
Valaris will warm-stack its MS-1 and DPS-1 semi-subs in Malaysia after completing contracts in Australia by end-2025.
Valaris strengthens its North Sea operations with $190 million in new rig contracts and a $108 million asset sale, boosting its contract backlog to $4.5 billion.
