Valaris takes delivery of two newbuild drillships

Valaris Limited has exercised its options and taken delivery of newbuild drillships VALARIS DS-13 and DS-14 for an aggregate purchase price of approximately $337 million, according to the company's release.

VALARIS DS-13 and DS-14 will be mobilized from South Korea to Las Palmas, Spain, where the rigs will be stacked until they are contracted for work. The purchase of the rigs is expected to increase the Company’s fourth quarter 2023 capital expenditures by approximately $355 million, representing the purchase price for the rigs and costs associated with preparing the rigs to mobilize from South Korea to Las Palmas. In addition, the company anticipates 2024 capital expenditures of approximately $35 million primarily related to mobilization costs.

Valaris Limited is the industry leader in offshore drilling services across all water depths and geographies. Operating a high-quality rig fleet of ultra-deepwater drillships, versatile semisubmersibles and modern shallow-water jackups, Valaris has experience operating in nearly every major offshore basin.