XML 142 R49.htm IDEA: XBRL DOCUMENT
v3.19.3.a.u2

Rowan Transaction Narrative (Details) $ / shares in Units, € in Millions, shares in Millions, $ in Millions |  |  | 3 Months Ended | 12 Months Ended |  |
--- | --- | --- | --- | --- | --- | ---
Apr. 11, 2019 EUR (€) rigs shares | Apr. 11, 2019 USD ($) rigs $ / shares shares | Oct. 06, 2017 | Dec. 31, 2019 USD ($) $ / shares | Sep. 30, 2019 USD ($) | Jun. 30, 2019 USD ($) | Mar. 31, 2019 USD ($) | Dec. 31, 2018 USD ($) $ / shares | Sep. 30, 2018 USD ($) | Jun. 30, 2018 USD ($) | Mar. 31, 2018 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | Dec. 31, 2019 EUR (€) drillship jackup rigs | Dec. 31, 2019 USD ($) drillship jackup rigs $ / shares | Dec. 31, 2018 USD ($) $ / shares | Dec. 31, 2017 USD ($) | Apr. 10, 2019 $ / shares | Oct. 05, 2018 $ / shares
Business Acquisition [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Number of contract drilling rigs | rigs |  |  |  |  |  |  |  |  |  |  |  |  |  | 74 | 74 |  |  |  |
Unrecognized Tax Benefits, Increase Resulting from Acquisition |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ 149.9 | $ 0.0 |  |  |
Tax Assessment |  |  |  |  | $ 42.0 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deferred Tax Liabilities, Net |  |  |  | $ 39.9 |  |  |  | $ 34.8 |  |  |  |  |  |  | 39.9 | 34.8 |  |  |
OPERATING REVENUES |  |  |  | 512.1 | 551.3 | $ 583.9 | $ 405.9 | 399.0 | $ 430.9 | $ 458.5 | $ 417.0 |  |  |  | 2,053.2 | 1,705.4 | $ 1,843.0 |  |
NET LOSS ATTRIBUTABLE TO VALARIS |  |  |  | $ (216.0) | $ (197.1) | $ 405.5 | $ (190.4) | $ (203.6) | $ (145.0) | $ (151.0) | $ (140.1) |  |  |  | $ (198.0) | $ (639.7) | $ (303.7) |  |
Class A Ordinary Shares, U.S. [Member] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Business Acquisition [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Common Stock, Par or Stated Value Per Share | $ / shares |  |  |  | $ 0.40 |  |  |  | $ 0.40 |  |  |  |  |  |  | $ 0.40 | $ 0.40 |  |  |
Rowan Companies [Member] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Business Acquisition [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Common stock, value (in usd per share) | $ / shares |  | $ 43.67 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consideration transferred |  | $ 1,400.0 |  |  |  |  |  |  |  |  |  |  |  |  | $ 1,402.8 |  |  |  |
Fair Value of Employee Equity awards |  | 2.6 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Merger related costs |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 18.0 |  |  |  |
Materials And Supplies |  |  |  | $ 83.0 |  |  |  |  |  |  |  |  |  |  | 83.0 |  |  |  |
Property and equipment |  |  |  | 2,964.0 |  |  |  |  |  |  |  |  |  |  | 2,964.0 |  |  |  |
Intangible assets, net |  | 16.2 |  | 11.9 |  |  |  |  |  |  |  |  |  |  | 11.9 |  |  |  |
Intangible Liabilities |  | 2.1 |  | 1.4 |  |  |  |  |  |  |  |  |  |  | 1.4 |  |  |  |
Asset amortization |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ 3.6 |  |  |  |
Finite-Lived Intangible Assets, Remaining Amortization Period |  |  |  |  |  |  |  |  |  |  |  |  |  | 2 years | 2 years |  |  |  |
Deferred Tax Assets, Net |  |  |  | 99.0 |  |  |  |  |  |  |  |  |  |  | $ 99.0 |  |  |  |
Unrecognized Tax Benefits, Increase Resulting from Acquisition |  | 50.4 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
OPERATING REVENUES |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 448.0 |  |  |  |
NET LOSS ATTRIBUTABLE TO VALARIS |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 122.7 |  |  |  |
Rowan Companies [Member] | Luxembourg Inland Revenue [Member] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Business Acquisition [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unrecognized tax benefit, maximum exposure |  |  |  |  |  |  |  |  |  |  |  |  |  | € 142.0 | 159.0 |  |  |  |
Deferred Other Tax Expense (Benefit) | € 46.0 | $ 52.6 |  |  |  |  |  |  |  |  |  |  |  | 47.0 | 52.0 |  |  |  |
Tax Assessment | € |  |  |  |  |  |  |  |  |  |  |  |  |  | € 93.0 |  |  |  |  |
Deferred Tax Liabilities, Net |  |  |  | $ 104.6 |  |  |  |  |  |  |  |  |  |  | $ 104.6 |  |  |  |
Rowan Companies [Member] | Forecast [Member] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Business Acquisition [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Capitalized Contract Cost, Amortization |  |  |  |  |  |  |  |  |  |  |  | $ 5.4 | $ 5.1 |  |  |  |  |  |
Rowan Companies [Member] | Class A Ordinary Shares, U.S. [Member] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Business Acquisition [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Common stock, value (in usd per share) | $ / shares |  | $ 2.75 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Shares Issued, Price Per Share | $ / shares |  | $ 15.88 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Number of ordinary shares | shares | 88.3 | 88.3 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Common Stock, Par or Stated Value Per Share | $ / shares |  | $ 0.40 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ 0.10 |
Share Price | $ / shares |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ 33.92
Jackup Rigs [Member] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Business Acquisition [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Number of contract drilling rigs | rigs |  |  |  |  |  |  |  |  |  |  |  |  |  | 50 | 50 |  |  |  |
Jackup Rigs [Member] | Rowan Companies [Member] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Business Acquisition [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Number of contract drilling rigs | 19 | 19 |  |  |  |  |  |  |  |  |  |  |  | 19 | 19 |  |  |  |
Drilling rigs and equipment [Member] | Rowan Companies [Member] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Business Acquisition [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Number of contract drilling rigs | drillship |  |  |  |  |  |  |  |  |  |  |  |  |  | 4 | 4 |  |  |  |
Minimum | Drilling rigs and equipment [Member] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Business Acquisition [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Property, Plant and Equipment, Useful Life |  |  |  |  |  |  |  |  |  |  |  |  |  | 4 years | 4 years |  |  |  |
Minimum | Drilling rigs and equipment [Member] | Rowan Companies [Member] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Business Acquisition [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Property, Plant and Equipment, Useful Life |  |  | 30 years |  |  |  |  |  |  |  |  |  |  | 16 years | 16 years |  |  |  |
Maximum | Drilling rigs and equipment [Member] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Business Acquisition [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Property, Plant and Equipment, Useful Life |  |  |  |  |  |  |  |  |  |  |  |  |  | 35 years | 35 years |  |  |  |
Maximum | Drilling rigs and equipment [Member] | Rowan Companies [Member] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Business Acquisition [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Property, Plant and Equipment, Useful Life |  |  | 35 years |  |  |  |  |  |  |  |  |  |  | 35 years | 35 years |  |  |  |

X
- Definition The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3602-108585 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a)(2) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6388964&loc=d3e16225-109274 + Details
Name: | us-gaap_AmortizationOfIntangibleAssets
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Number of shares of equity interests issued or issuable to acquire entity. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (b)(4) -URI http://asc.fasb.org/extlink&oid=35744584&loc=d3e6927-128479 + Details
Name: | us-gaap_BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued
Namespace Prefix: | us-gaap_
Data Type: | xbrli:sharesItemType
Balance Type: | na
Period Type: | duration

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | us-gaap_BusinessAcquisitionLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition This element represents acquisition-related costs incurred to effect a business combination which costs have been expensed during the period. Such costs include finder's fees; advisory, legal, accounting, valuation, and other professional or consulting fees; general administrative costs, including the costs of maintaining an internal acquisitions department; and may include costs of registering and issuing debt and equity securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 25 -Paragraph 23 -URI http://asc.fasb.org/extlink&oid=116868678&loc=d3e1043-128460 + Details
Name: | us-gaap_BusinessCombinationAcquisitionRelatedCosts
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Amount of consideration transferred, consisting of acquisition-date fair value of assets transferred by the acquirer, liabilities incurred by the acquirer, and equity interest issued by the acquirer. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 30 -Section 30 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=116859721&loc=d3e6613-128477 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=35744584&loc=d3e6927-128479 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 30 -Section 30 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=116859721&loc=d3e6578-128477 + Details
Name: | us-gaap_BusinessCombinationConsiderationTransferred1
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Amount of intangible assets, excluding goodwill, acquired at the acquisition date. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=116869197&loc=d3e4845-128472 + Details
Name: | us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Amount of liabilities assumed at the acquisition date. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=116869197&loc=d3e4845-128472 + Details
Name: | us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition The amount of property, plant, and equipment recognized as of the acquisition date. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 55 -Paragraph 37 -URI http://asc.fasb.org/extlink&oid=116868840&loc=d3e2207-128464 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=116869197&loc=d3e4845-128472 + Details
Name: | us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Fair value at acquisition-date of the equity interest in the acquiree held by the acquirer, immediately before the acquisition date for businesses combined in stages. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (g)(1) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
Name: | us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeFairValue1
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Amount of amortization expense for asset recognized from cost incurred to obtain or fulfill contract with customer. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 340 -SubTopic 40 -Section 50 -Paragraph 3 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=68051541&loc=SL49131252-203054 + Details
Name: | us-gaap_CapitalizedContractCostAmortization
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Face amount or stated value per share of common stock. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(29)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
Name: | us-gaap_CommonStockParOrStatedValuePerShare
Namespace Prefix: | us-gaap_
Data Type: | num:perShareItemType
Balance Type: | na
Period Type: | instant

X
- Definition Amount of other deferred income tax expense (benefit) pertaining to income (loss) from continuing operations. For example, but not limited to, acquisition-date income tax benefits or expenses recognized from changes in the acquirer's valuation allowance for its previously existing deferred tax assets resulting from a business combination and adjustments to beginning-of-year balance of a valuation allowance because of a change in circumstance causing a change in judgment about the realizability of the related deferred tax asset in future periods. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -Subparagraph (g) -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -Subparagraph (h) -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 6.I.7) -URI http://asc.fasb.org/extlink&oid=116825942&loc=d3e330036-122817 + Details
Name: | us-gaap_DeferredOtherTaxExpenseBenefit
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Amount, after allocation of valuation allowances and deferred tax liability, of deferred tax asset attributable to deductible differences and carryforwards, without jurisdictional netting. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319 + Details
Name: | us-gaap_DeferredTaxAssetsLiabilitiesNet
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Amount, after deferred tax asset, of deferred tax liability attributable to taxable differences without jurisdictional netting. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 45 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=116821951&loc=d3e31931-109318 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319 + Details
Name: | us-gaap_DeferredTaxLiabilities
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Remaining amortization period of finite-lived intangible assets, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. + References No definition available. + Details
Name: | us-gaap_FiniteLivedIntangibleAssetsRemainingAmortizationPeriod1
Namespace Prefix: | us-gaap_
Data Type: | xbrli:durationItemType
Balance Type: | na
Period Type: | duration

X
- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 1A -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=118930883&loc=SL7669619-108580 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(22)) -URI http://asc.fasb.org/extlink&oid=116637391&loc=SL114874048-224260 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 1B -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=118930883&loc=SL7669625-108580 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(18)) -URI http://asc.fasb.org/extlink&oid=116637232&loc=SL114874131-224263 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(20)) -URI http://asc.fasb.org/extlink&oid=116634182&loc=SL114868664-224227 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3602-108585 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 + Details
Name: | us-gaap_NetIncomeLoss
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Useful life of long lived, physical assets used in the normal conduct of business and not intended for resale, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Examples include, but not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment. + References No definition available. + Details
Name: | us-gaap_PropertyPlantAndEquipmentUsefulLife
Namespace Prefix: | us-gaap_
Data Type: | xbrli:durationItemType
Balance Type: | na
Period Type: | duration

X
- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8736-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8933-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8736-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(1)) -URI http://asc.fasb.org/extlink&oid=116634182&loc=SL114868664-224227 + Details
Name: | us-gaap_Revenues
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Price of a single share of a number of saleable stocks of a company. + References No definition available. + Details
Name: | us-gaap_SharePrice
Namespace Prefix: | us-gaap_
Data Type: | num:perShareItemType
Balance Type: | na
Period Type: | instant

X
- Definition Per share or per unit amount of equity securities issued. + References No definition available. + Details
Name: | us-gaap_SharesIssuedPricePerShare
Namespace Prefix: | us-gaap_
Data Type: | num:perShareItemType
Balance Type: | na
Period Type: | instant

X
- Definition Amount of increase in unrecognized tax benefits resulting from acquisitions. + References No definition available. + Details
Name: | us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromAcquisition
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Business Acquisition, Equity Interest Issued or Issuable, Value Assigned, Per Share + References No definition available. + Details
Name: | val_BusinessAcquisitionEquityInterestIssuedorIssuableValueAssignedPerShare
Namespace Prefix: | val_
Data Type: | num:perShareItemType
Balance Type: | na
Period Type: | instant

X
- Definition Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Materials And Supplies + References No definition available. + Details
Name: | val_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedMaterialsAndSupplies
Namespace Prefix: | val_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Number Of Contract Drilling Rig + References No definition available. + Details
Name: | val_NumberOfContractDrillingRigs
Namespace Prefix: | val_
Data Type: | xbrli:integerItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tax Assessment + References No definition available. + Details
Name: | val_TaxAssessment
Namespace Prefix: | val_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Unrecognized tax benefit, maximum exposure + References No definition available. + Details
Name: | val_Unrecognizedtaxbenefitmaximumexposure
Namespace Prefix: | val_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Details
Name: | us-gaap_StatementClassOfStockAxis=us-gaap_CommonClassAMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_BusinessAcquisitionAxis=val_RowanCompaniesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_IncomeTaxAuthorityNameAxis=us-gaap_LuxembourgInlandRevenueMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_StatementScenarioAxis=srt_ScenarioForecastMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_PropertyPlantAndEquipmentByTypeAxis=val_JackupRigsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_DrillingRightsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_RangeAxis=srt_MinimumMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_RangeAxis=srt_MaximumMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |