<SEC-DOCUMENT>0000314808-20-000147.txt : 20200825
<SEC-HEADER>0000314808-20-000147.hdr.sgml : 20200825
<ACCEPTANCE-DATETIME>20200825091637
ACCESSION NUMBER:		0000314808-20-000147
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		17
CONFORMED PERIOD OF REPORT:	20200819
ITEM INFORMATION:		Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
ITEM INFORMATION:		Material Modifications to Rights of Security Holders
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20200825
DATE AS OF CHANGE:		20200825

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Valaris plc
		CENTRAL INDEX KEY:			0000314808
		STANDARD INDUSTRIAL CLASSIFICATION:	DRILLING OIL & GAS WELLS [1381]
		IRS NUMBER:				980635229
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-08097
		FILM NUMBER:		201129683

	BUSINESS ADDRESS:	
		STREET 1:		110 CANNON STREET
		CITY:			LONDON
		STATE:			X0
		ZIP:			EC4N6EU
		BUSINESS PHONE:		4402076594660

	MAIL ADDRESS:	
		STREET 1:		110 CANNON STREET
		CITY:			LONDON
		STATE:			X0
		ZIP:			EC4N6EU

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Ensco Rowan plc
		DATE OF NAME CHANGE:	20190410

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Ensco plc
		DATE OF NAME CHANGE:	20100331

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Ensco International plc
		DATE OF NAME CHANGE:	20091223
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>val-20200819.htm
<DESCRIPTION>8-K
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Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%;">(Address of Principal Executive Offices and Zip Code)</span></div><div style="text-align:justify;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;">&#160;</span></div><div style="text-align:center;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%;">Registrant&#8217;s telephone number, including area code: <ix:nonNumeric contextRef="ia4dfc98286da4aa08ec1e168aa5dca7d_D20200819-20200819" name="dei:CityAreaCode" id="id3VybDovL2RvY3MudjEvZG9jOjVjYzQwYWY2MzljOTQ5N2M5M2UzNWE0YzBmYzQ2MTliL3NlYzo1Y2M0MGFmNjM5Yzk0OTdjOTNlMzVhNGMwZmM0NjE5Yl8xL2ZyYWc6MzAzOWNmMmQ5MmU5NDY5YmJhNGFhMzlkNTFkNGQwNTMvdGV4dHJlZ2lvbjozMDM5Y2YyZDkyZTk0NjliYmE0YWEzOWQ1MWQ0ZDA1M18xMDkx_9d4a448b-0785-4120-98d7-3ea02170cc63">44 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style="border-collapse:collapse;display:inline-table;vertical-align:top;width:511.50pt;"><tr><td style="width:1.0pt;"></td><td style="width:34.75pt;"></td><td style="width:1.0pt;"></td><td style="width:1.0pt;"></td><td style="width:472.75pt;"></td><td style="width:1.0pt;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><span style="font-size:11pt;font-weight:400;font-family:'Arial Unicode MS',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"><ix:nonNumeric contextRef="ia4dfc98286da4aa08ec1e168aa5dca7d_D20200819-20200819" format="ixt-sec:boolballotbox" name="dei:PreCommencementTenderOffer" 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style="width:34.75pt;"></td><td style="width:1.0pt;"></td><td style="width:1.0pt;"></td><td style="width:472.75pt;"></td><td style="width:1.0pt;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><span style="font-size:11pt;font-weight:400;font-family:'Wingdings',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"><ix:nonNumeric contextRef="ia4dfc98286da4aa08ec1e168aa5dca7d_D20200819-20200819" format="ixt-sec:boolballotbox" name="dei:PreCommencementIssuerTenderOffer" id="id3VybDovL2RvY3MudjEvZG9jOjVjYzQwYWY2MzljOTQ5N2M5M2UzNWE0YzBmYzQ2MTliL3NlYzo1Y2M0MGFmNjM5Yzk0OTdjOTNlMzVhNGMwZmM0NjE5Yl8xL2ZyYWc6MzAzOWNmMmQ5MmU5NDY5YmJhNGFhMzlkNTFkNGQwNTMvdGFibGU6MmZmNzc1ZWVhMzhlNDYwMjk1M2Q2NjdmOTU4NWIyMTUvdGFibGVyYW5nZToyZmY3NzVlZWEzOGU0NjAyOTUzZDY2N2Y5NTg1YjIxNV8wLTAtMS0xLTA_952c7f10-36f0-4d72-ae8b-ed7004074fe5">&#9744;</ix:nonNumeric></span></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><span style="font-size:11pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</span></td></tr></table></div><div style="margin-bottom:9pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;">Securities registered pursuant to Section 12(b) of the Act:</span></div><div style="position:relative;width:100%;height:42.75pt;"><div style="position:absolute;bottom:0;width:100%;"><div><span><br/></span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%;"><div><span><br/></span></div></div><div style="text-align:center;margin-top:11pt;margin-bottom:5pt;"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:96.491%;"><tr><td style="width:1.0%;"></td><td style="width:42.536%;"></td><td style="width:0.1%;"></td><td style="width:1.0%;"></td><td style="width:19.354%;"></td><td style="width:0.1%;"></td><td style="width:0.1%;"></td><td style="width:0.557%;"></td><td style="width:0.1%;"></td><td style="width:1.0%;"></td><td style="width:34.053%;"></td><td style="width:0.1%;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:11pt;font-weight:700;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Title of each class</span></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:11pt;font-weight:700;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Ticker Symbol(s)</span></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:11pt;font-weight:700;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Name of each exchange on which registered</span></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><span style="font-size:11pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"><ix:nonNumeric contextRef="ifaf833f0378a4504add275b7a85aa0f8_D20200819-20200819" name="dei:Security12bTitle" id="id3VybDovL2RvY3MudjEvZG9jOjVjYzQwYWY2MzljOTQ5N2M5M2UzNWE0YzBmYzQ2MTliL3NlYzo1Y2M0MGFmNjM5Yzk0OTdjOTNlMzVhNGMwZmM0NjE5Yl8xL2ZyYWc6MzAzOWNmMmQ5MmU5NDY5YmJhNGFhMzlkNTFkNGQwNTMvdGFibGU6NjljOTA3ZjE4ZmJkNDM4ZmIwMjZjZTZlMjdkZGE0NTEvdGFibGVyYW5nZTo2OWM5MDdmMThmYmQ0MzhmYjAyNmNlNmUyN2RkYTQ1MV8xLTAtMS0xLTA_92e2e4cc-cb91-4a38-af73-8787c71c1cef">Class A ordinary shares, U.S. $0.40 par value</ix:nonNumeric></span></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><span style="font-size:11pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"><ix:nonNumeric contextRef="ifaf833f0378a4504add275b7a85aa0f8_D20200819-20200819" name="dei:TradingSymbol" id="id3VybDovL2RvY3MudjEvZG9jOjVjYzQwYWY2MzljOTQ5N2M5M2UzNWE0YzBmYzQ2MTliL3NlYzo1Y2M0MGFmNjM5Yzk0OTdjOTNlMzVhNGMwZmM0NjE5Yl8xL2ZyYWc6MzAzOWNmMmQ5MmU5NDY5YmJhNGFhMzlkNTFkNGQwNTMvdGFibGU6NjljOTA3ZjE4ZmJkNDM4ZmIwMjZjZTZlMjdkZGE0NTEvdGFibGVyYW5nZTo2OWM5MDdmMThmYmQ0MzhmYjAyNmNlNmUyN2RkYTQ1MV8xLTEtMS0xLTA_036a3ea8-61c7-428d-8662-f351d5b3d77e">VAL*</ix:nonNumeric></span></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><span style="font-size:11pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"><ix:nonNumeric contextRef="ifaf833f0378a4504add275b7a85aa0f8_D20200819-20200819" format="ixt-sec:exchnameen" name="dei:SecurityExchangeName" id="id3VybDovL2RvY3MudjEvZG9jOjVjYzQwYWY2MzljOTQ5N2M5M2UzNWE0YzBmYzQ2MTliL3NlYzo1Y2M0MGFmNjM5Yzk0OTdjOTNlMzVhNGMwZmM0NjE5Yl8xL2ZyYWc6MzAzOWNmMmQ5MmU5NDY5YmJhNGFhMzlkNTFkNGQwNTMvdGFibGU6NjljOTA3ZjE4ZmJkNDM4ZmIwMjZjZTZlMjdkZGE0NTEvdGFibGVyYW5nZTo2OWM5MDdmMThmYmQ0MzhmYjAyNmNlNmUyN2RkYTQ1MV8xLTMtMS0xLTA_50801e50-23d3-4225-a3af-905ddc449dc3">New York Stock Exchange</ix:nonNumeric></span></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:11pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"><ix:nonNumeric contextRef="i825c67c5dc264f33936fc36724bd8be4_D20200819-20200819" name="dei:Security12bTitle" id="id3VybDovL2RvY3MudjEvZG9jOjVjYzQwYWY2MzljOTQ5N2M5M2UzNWE0YzBmYzQ2MTliL3NlYzo1Y2M0MGFmNjM5Yzk0OTdjOTNlMzVhNGMwZmM0NjE5Yl8xL2ZyYWc6MzAzOWNmMmQ5MmU5NDY5YmJhNGFhMzlkNTFkNGQwNTMvdGFibGU6NjljOTA3ZjE4ZmJkNDM4ZmIwMjZjZTZlMjdkZGE0NTEvdGFibGVyYW5nZTo2OWM5MDdmMThmYmQ0MzhmYjAyNmNlNmUyN2RkYTQ1MV8yLTAtMS0xLTA_11721175-4062-43f5-a64d-08fcb3e017fb">4.70% Senior Notes due 2021</ix:nonNumeric></span></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:11pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"><ix:nonNumeric contextRef="i825c67c5dc264f33936fc36724bd8be4_D20200819-20200819" name="dei:TradingSymbol" id="id3VybDovL2RvY3MudjEvZG9jOjVjYzQwYWY2MzljOTQ5N2M5M2UzNWE0YzBmYzQ2MTliL3NlYzo1Y2M0MGFmNjM5Yzk0OTdjOTNlMzVhNGMwZmM0NjE5Yl8xL2ZyYWc6MzAzOWNmMmQ5MmU5NDY5YmJhNGFhMzlkNTFkNGQwNTMvdGFibGU6NjljOTA3ZjE4ZmJkNDM4ZmIwMjZjZTZlMjdkZGE0NTEvdGFibGVyYW5nZTo2OWM5MDdmMThmYmQ0MzhmYjAyNmNlNmUyN2RkYTQ1MV8yLTEtMS0xLTA_567a0001-2a12-41e1-8648-543526fec526">VAL21*</ix:nonNumeric></span></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:11pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"><ix:nonNumeric contextRef="i825c67c5dc264f33936fc36724bd8be4_D20200819-20200819" format="ixt-sec:exchnameen" name="dei:SecurityExchangeName" id="id3VybDovL2RvY3MudjEvZG9jOjVjYzQwYWY2MzljOTQ5N2M5M2UzNWE0YzBmYzQ2MTliL3NlYzo1Y2M0MGFmNjM5Yzk0OTdjOTNlMzVhNGMwZmM0NjE5Yl8xL2ZyYWc6MzAzOWNmMmQ5MmU5NDY5YmJhNGFhMzlkNTFkNGQwNTMvdGFibGU6NjljOTA3ZjE4ZmJkNDM4ZmIwMjZjZTZlMjdkZGE0NTEvdGFibGVyYW5nZTo2OWM5MDdmMThmYmQ0MzhmYjAyNmNlNmUyN2RkYTQ1MV8yLTMtMS0xLTA_a1e3f226-009f-42f0-9f60-eb09763d7734">New York Stock Exchange</ix:nonNumeric></span></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:11pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"><ix:nonNumeric contextRef="ifee5a49ea40142078dc035153b409edd_D20200819-20200819" name="dei:Security12bTitle" id="id3VybDovL2RvY3MudjEvZG9jOjVjYzQwYWY2MzljOTQ5N2M5M2UzNWE0YzBmYzQ2MTliL3NlYzo1Y2M0MGFmNjM5Yzk0OTdjOTNlMzVhNGMwZmM0NjE5Yl8xL2ZyYWc6MzAzOWNmMmQ5MmU5NDY5YmJhNGFhMzlkNTFkNGQwNTMvdGFibGU6NjljOTA3ZjE4ZmJkNDM4ZmIwMjZjZTZlMjdkZGE0NTEvdGFibGVyYW5nZTo2OWM5MDdmMThmYmQ0MzhmYjAyNmNlNmUyN2RkYTQ1MV8zLTAtMS0xLTA_f894894b-c091-4155-b6da-9982b75af140">4.875% Senior Note due 2022</ix:nonNumeric></span></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:11pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"><ix:nonNumeric contextRef="ifee5a49ea40142078dc035153b409edd_D20200819-20200819" name="dei:TradingSymbol" id="id3VybDovL2RvY3MudjEvZG9jOjVjYzQwYWY2MzljOTQ5N2M5M2UzNWE0YzBmYzQ2MTliL3NlYzo1Y2M0MGFmNjM5Yzk0OTdjOTNlMzVhNGMwZmM0NjE5Yl8xL2ZyYWc6MzAzOWNmMmQ5MmU5NDY5YmJhNGFhMzlkNTFkNGQwNTMvdGFibGU6NjljOTA3ZjE4ZmJkNDM4ZmIwMjZjZTZlMjdkZGE0NTEvdGFibGVyYW5nZTo2OWM5MDdmMThmYmQ0MzhmYjAyNmNlNmUyN2RkYTQ1MV8zLTEtMS0xLTA_b4c626ab-2ac6-4d1f-89c3-28fa7285c055">VAL/22*</ix:nonNumeric></span></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:11pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"><ix:nonNumeric contextRef="ifee5a49ea40142078dc035153b409edd_D20200819-20200819" format="ixt-sec:exchnameen" name="dei:SecurityExchangeName" id="id3VybDovL2RvY3MudjEvZG9jOjVjYzQwYWY2MzljOTQ5N2M5M2UzNWE0YzBmYzQ2MTliL3NlYzo1Y2M0MGFmNjM5Yzk0OTdjOTNlMzVhNGMwZmM0NjE5Yl8xL2ZyYWc6MzAzOWNmMmQ5MmU5NDY5YmJhNGFhMzlkNTFkNGQwNTMvdGFibGU6NjljOTA3ZjE4ZmJkNDM4ZmIwMjZjZTZlMjdkZGE0NTEvdGFibGVyYW5nZTo2OWM5MDdmMThmYmQ0MzhmYjAyNmNlNmUyN2RkYTQ1MV8zLTMtMS0xLTA_1e9ae5f5-6386-471b-a508-2a3aface7066">New York Stock Exchange</ix:nonNumeric></span></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:11pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"><ix:nonNumeric contextRef="i1f3b27ddb6e24c7f94081298333bf356_D20200819-20200819" name="dei:Security12bTitle" id="id3VybDovL2RvY3MudjEvZG9jOjVjYzQwYWY2MzljOTQ5N2M5M2UzNWE0YzBmYzQ2MTliL3NlYzo1Y2M0MGFmNjM5Yzk0OTdjOTNlMzVhNGMwZmM0NjE5Yl8xL2ZyYWc6MzAzOWNmMmQ5MmU5NDY5YmJhNGFhMzlkNTFkNGQwNTMvdGFibGU6NjljOTA3ZjE4ZmJkNDM4ZmIwMjZjZTZlMjdkZGE0NTEvdGFibGVyYW5nZTo2OWM5MDdmMThmYmQ0MzhmYjAyNmNlNmUyN2RkYTQ1MV80LTAtMS0xLTA_ed2789e7-7ece-49b5-a223-d4f9070ee359">4.50% Senior Notes due 2024</ix:nonNumeric></span></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:11pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"><ix:nonNumeric contextRef="i1f3b27ddb6e24c7f94081298333bf356_D20200819-20200819" name="dei:TradingSymbol" id="id3VybDovL2RvY3MudjEvZG9jOjVjYzQwYWY2MzljOTQ5N2M5M2UzNWE0YzBmYzQ2MTliL3NlYzo1Y2M0MGFmNjM5Yzk0OTdjOTNlMzVhNGMwZmM0NjE5Yl8xL2ZyYWc6MzAzOWNmMmQ5MmU5NDY5YmJhNGFhMzlkNTFkNGQwNTMvdGFibGU6NjljOTA3ZjE4ZmJkNDM4ZmIwMjZjZTZlMjdkZGE0NTEvdGFibGVyYW5nZTo2OWM5MDdmMThmYmQ0MzhmYjAyNmNlNmUyN2RkYTQ1MV80LTEtMS0xLTA_56bf63dd-2c05-4e94-9cce-8a6313671b86">VAL24*</ix:nonNumeric></span></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:11pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"><ix:nonNumeric contextRef="i1f3b27ddb6e24c7f94081298333bf356_D20200819-20200819" format="ixt-sec:exchnameen" name="dei:SecurityExchangeName" id="id3VybDovL2RvY3MudjEvZG9jOjVjYzQwYWY2MzljOTQ5N2M5M2UzNWE0YzBmYzQ2MTliL3NlYzo1Y2M0MGFmNjM5Yzk0OTdjOTNlMzVhNGMwZmM0NjE5Yl8xL2ZyYWc6MzAzOWNmMmQ5MmU5NDY5YmJhNGFhMzlkNTFkNGQwNTMvdGFibGU6NjljOTA3ZjE4ZmJkNDM4ZmIwMjZjZTZlMjdkZGE0NTEvdGFibGVyYW5nZTo2OWM5MDdmMThmYmQ0MzhmYjAyNmNlNmUyN2RkYTQ1MV80LTMtMS0xLTA_2cae4f25-b314-4829-ae10-2a690215801f">New York Stock Exchange</ix:nonNumeric></span></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:11pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"><ix:nonNumeric contextRef="i5731090ad1b9498e8c240ae050d77259_D20200819-20200819" name="dei:Security12bTitle" id="id3VybDovL2RvY3MudjEvZG9jOjVjYzQwYWY2MzljOTQ5N2M5M2UzNWE0YzBmYzQ2MTliL3NlYzo1Y2M0MGFmNjM5Yzk0OTdjOTNlMzVhNGMwZmM0NjE5Yl8xL2ZyYWc6MzAzOWNmMmQ5MmU5NDY5YmJhNGFhMzlkNTFkNGQwNTMvdGFibGU6NjljOTA3ZjE4ZmJkNDM4ZmIwMjZjZTZlMjdkZGE0NTEvdGFibGVyYW5nZTo2OWM5MDdmMThmYmQ0MzhmYjAyNmNlNmUyN2RkYTQ1MV81LTAtMS0xLTA_1558994a-db59-484b-86a0-b4d26eb01cc1">4.75% Senior Note due 2024</ix:nonNumeric></span></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:11pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"><ix:nonNumeric contextRef="i5731090ad1b9498e8c240ae050d77259_D20200819-20200819" name="dei:TradingSymbol" id="id3VybDovL2RvY3MudjEvZG9jOjVjYzQwYWY2MzljOTQ5N2M5M2UzNWE0YzBmYzQ2MTliL3NlYzo1Y2M0MGFmNjM5Yzk0OTdjOTNlMzVhNGMwZmM0NjE5Yl8xL2ZyYWc6MzAzOWNmMmQ5MmU5NDY5YmJhNGFhMzlkNTFkNGQwNTMvdGFibGU6NjljOTA3ZjE4ZmJkNDM4ZmIwMjZjZTZlMjdkZGE0NTEvdGFibGVyYW5nZTo2OWM5MDdmMThmYmQ0MzhmYjAyNmNlNmUyN2RkYTQ1MV81LTEtMS0xLTA_da2c6530-0d4a-4cb4-8a9a-76b6b019193d">VAL/24*</ix:nonNumeric></span></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:11pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"><ix:nonNumeric contextRef="i5731090ad1b9498e8c240ae050d77259_D20200819-20200819" format="ixt-sec:exchnameen" name="dei:SecurityExchangeName" id="id3VybDovL2RvY3MudjEvZG9jOjVjYzQwYWY2MzljOTQ5N2M5M2UzNWE0YzBmYzQ2MTliL3NlYzo1Y2M0MGFmNjM5Yzk0OTdjOTNlMzVhNGMwZmM0NjE5Yl8xL2ZyYWc6MzAzOWNmMmQ5MmU5NDY5YmJhNGFhMzlkNTFkNGQwNTMvdGFibGU6NjljOTA3ZjE4ZmJkNDM4ZmIwMjZjZTZlMjdkZGE0NTEvdGFibGVyYW5nZTo2OWM5MDdmMThmYmQ0MzhmYjAyNmNlNmUyN2RkYTQ1MV81LTMtMS0xLTA_0d75213b-f987-4d90-affa-e40f1b6d7188">New York Stock Exchange</ix:nonNumeric></span></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:11pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"><ix:nonNumeric contextRef="i39c53d3540e04400aba7ce4f5648f2a8_D20200819-20200819" name="dei:Security12bTitle" id="id3VybDovL2RvY3MudjEvZG9jOjVjYzQwYWY2MzljOTQ5N2M5M2UzNWE0YzBmYzQ2MTliL3NlYzo1Y2M0MGFmNjM5Yzk0OTdjOTNlMzVhNGMwZmM0NjE5Yl8xL2ZyYWc6MzAzOWNmMmQ5MmU5NDY5YmJhNGFhMzlkNTFkNGQwNTMvdGFibGU6NjljOTA3ZjE4ZmJkNDM4ZmIwMjZjZTZlMjdkZGE0NTEvdGFibGVyYW5nZTo2OWM5MDdmMThmYmQ0MzhmYjAyNmNlNmUyN2RkYTQ1MV82LTAtMS0xLTA_91b05e02-abcb-403a-b574-1d17a94ee6fc">8.00% Senior Notes due 2024</ix:nonNumeric></span></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:11pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"><ix:nonNumeric contextRef="i39c53d3540e04400aba7ce4f5648f2a8_D20200819-20200819" name="dei:TradingSymbol" id="id3VybDovL2RvY3MudjEvZG9jOjVjYzQwYWY2MzljOTQ5N2M5M2UzNWE0YzBmYzQ2MTliL3NlYzo1Y2M0MGFmNjM5Yzk0OTdjOTNlMzVhNGMwZmM0NjE5Yl8xL2ZyYWc6MzAzOWNmMmQ5MmU5NDY5YmJhNGFhMzlkNTFkNGQwNTMvdGFibGU6NjljOTA3ZjE4ZmJkNDM4ZmIwMjZjZTZlMjdkZGE0NTEvdGFibGVyYW5nZTo2OWM5MDdmMThmYmQ0MzhmYjAyNmNlNmUyN2RkYTQ1MV82LTEtMS0xLTA_065498d1-bbae-49b1-85c0-6d7f86f6da78">VAL24A*</ix:nonNumeric></span></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:11pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"><ix:nonNumeric contextRef="i39c53d3540e04400aba7ce4f5648f2a8_D20200819-20200819" format="ixt-sec:exchnameen" name="dei:SecurityExchangeName" id="id3VybDovL2RvY3MudjEvZG9jOjVjYzQwYWY2MzljOTQ5N2M5M2UzNWE0YzBmYzQ2MTliL3NlYzo1Y2M0MGFmNjM5Yzk0OTdjOTNlMzVhNGMwZmM0NjE5Yl8xL2ZyYWc6MzAzOWNmMmQ5MmU5NDY5YmJhNGFhMzlkNTFkNGQwNTMvdGFibGU6NjljOTA3ZjE4ZmJkNDM4ZmIwMjZjZTZlMjdkZGE0NTEvdGFibGVyYW5nZTo2OWM5MDdmMThmYmQ0MzhmYjAyNmNlNmUyN2RkYTQ1MV82LTMtMS0xLTA_606ec27f-871f-4f4d-bf2f-e8af56f3bc7f">New York Stock Exchange</ix:nonNumeric></span></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:11pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"><ix:nonNumeric contextRef="i0b4b6d738a694422a9c78cf57979b2fb_D20200819-20200819" name="dei:Security12bTitle" id="id3VybDovL2RvY3MudjEvZG9jOjVjYzQwYWY2MzljOTQ5N2M5M2UzNWE0YzBmYzQ2MTliL3NlYzo1Y2M0MGFmNjM5Yzk0OTdjOTNlMzVhNGMwZmM0NjE5Yl8xL2ZyYWc6MzAzOWNmMmQ5MmU5NDY5YmJhNGFhMzlkNTFkNGQwNTMvdGFibGU6NjljOTA3ZjE4ZmJkNDM4ZmIwMjZjZTZlMjdkZGE0NTEvdGFibGVyYW5nZTo2OWM5MDdmMThmYmQ0MzhmYjAyNmNlNmUyN2RkYTQ1MV83LTAtMS0xLTA_924ed6d3-e98a-41b3-817b-d3239e2c308b">5.20% Senior Notes due 2025</ix:nonNumeric></span></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:11pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"><ix:nonNumeric contextRef="i0b4b6d738a694422a9c78cf57979b2fb_D20200819-20200819" name="dei:TradingSymbol" id="id3VybDovL2RvY3MudjEvZG9jOjVjYzQwYWY2MzljOTQ5N2M5M2UzNWE0YzBmYzQ2MTliL3NlYzo1Y2M0MGFmNjM5Yzk0OTdjOTNlMzVhNGMwZmM0NjE5Yl8xL2ZyYWc6MzAzOWNmMmQ5MmU5NDY5YmJhNGFhMzlkNTFkNGQwNTMvdGFibGU6NjljOTA3ZjE4ZmJkNDM4ZmIwMjZjZTZlMjdkZGE0NTEvdGFibGVyYW5nZTo2OWM5MDdmMThmYmQ0MzhmYjAyNmNlNmUyN2RkYTQ1MV83LTEtMS0xLTA_55250b89-a832-4baf-a1e4-74b90fde0dd2">VAL25A*</ix:nonNumeric></span></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:11pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"><ix:nonNumeric contextRef="i0b4b6d738a694422a9c78cf57979b2fb_D20200819-20200819" format="ixt-sec:exchnameen" name="dei:SecurityExchangeName" id="id3VybDovL2RvY3MudjEvZG9jOjVjYzQwYWY2MzljOTQ5N2M5M2UzNWE0YzBmYzQ2MTliL3NlYzo1Y2M0MGFmNjM5Yzk0OTdjOTNlMzVhNGMwZmM0NjE5Yl8xL2ZyYWc6MzAzOWNmMmQ5MmU5NDY5YmJhNGFhMzlkNTFkNGQwNTMvdGFibGU6NjljOTA3ZjE4ZmJkNDM4ZmIwMjZjZTZlMjdkZGE0NTEvdGFibGVyYW5nZTo2OWM5MDdmMThmYmQ0MzhmYjAyNmNlNmUyN2RkYTQ1MV83LTMtMS0xLTA_f0c2573a-490d-42af-9ba0-ff7fde013bb9">New York Stock Exchange</ix:nonNumeric></span></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:11pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"><ix:nonNumeric contextRef="i9e7ea2652eec44d0bae7fbad4fa49fde_D20200819-20200819" name="dei:Security12bTitle" id="id3VybDovL2RvY3MudjEvZG9jOjVjYzQwYWY2MzljOTQ5N2M5M2UzNWE0YzBmYzQ2MTliL3NlYzo1Y2M0MGFmNjM5Yzk0OTdjOTNlMzVhNGMwZmM0NjE5Yl8xL2ZyYWc6MzAzOWNmMmQ5MmU5NDY5YmJhNGFhMzlkNTFkNGQwNTMvdGFibGU6NjljOTA3ZjE4ZmJkNDM4ZmIwMjZjZTZlMjdkZGE0NTEvdGFibGVyYW5nZTo2OWM5MDdmMThmYmQ0MzhmYjAyNmNlNmUyN2RkYTQ1MV84LTAtMS0xLTA_a2715881-5429-40a2-bdfb-251391493c83">7.375% Senior Note due 2025</ix:nonNumeric></span></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:11pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"><ix:nonNumeric contextRef="i9e7ea2652eec44d0bae7fbad4fa49fde_D20200819-20200819" name="dei:TradingSymbol" id="id3VybDovL2RvY3MudjEvZG9jOjVjYzQwYWY2MzljOTQ5N2M5M2UzNWE0YzBmYzQ2MTliL3NlYzo1Y2M0MGFmNjM5Yzk0OTdjOTNlMzVhNGMwZmM0NjE5Yl8xL2ZyYWc6MzAzOWNmMmQ5MmU5NDY5YmJhNGFhMzlkNTFkNGQwNTMvdGFibGU6NjljOTA3ZjE4ZmJkNDM4ZmIwMjZjZTZlMjdkZGE0NTEvdGFibGVyYW5nZTo2OWM5MDdmMThmYmQ0MzhmYjAyNmNlNmUyN2RkYTQ1MV84LTEtMS0xLTA_e3ecd026-192e-4e02-86e8-2d34e7e40990">VAL/25*</ix:nonNumeric></span></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:11pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"><ix:nonNumeric contextRef="i9e7ea2652eec44d0bae7fbad4fa49fde_D20200819-20200819" format="ixt-sec:exchnameen" name="dei:SecurityExchangeName" id="id3VybDovL2RvY3MudjEvZG9jOjVjYzQwYWY2MzljOTQ5N2M5M2UzNWE0YzBmYzQ2MTliL3NlYzo1Y2M0MGFmNjM5Yzk0OTdjOTNlMzVhNGMwZmM0NjE5Yl8xL2ZyYWc6MzAzOWNmMmQ5MmU5NDY5YmJhNGFhMzlkNTFkNGQwNTMvdGFibGU6NjljOTA3ZjE4ZmJkNDM4ZmIwMjZjZTZlMjdkZGE0NTEvdGFibGVyYW5nZTo2OWM5MDdmMThmYmQ0MzhmYjAyNmNlNmUyN2RkYTQ1MV84LTMtMS0xLTA_798bc4bf-c95a-4f3c-95fb-22e700cdcf44">New York Stock Exchange</ix:nonNumeric></span></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:11pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"><ix:nonNumeric contextRef="ic2af07a6dccd46658604ddee50e3e0d6_D20200819-20200819" name="dei:Security12bTitle" id="id3VybDovL2RvY3MudjEvZG9jOjVjYzQwYWY2MzljOTQ5N2M5M2UzNWE0YzBmYzQ2MTliL3NlYzo1Y2M0MGFmNjM5Yzk0OTdjOTNlMzVhNGMwZmM0NjE5Yl8xL2ZyYWc6MzAzOWNmMmQ5MmU5NDY5YmJhNGFhMzlkNTFkNGQwNTMvdGFibGU6NjljOTA3ZjE4ZmJkNDM4ZmIwMjZjZTZlMjdkZGE0NTEvdGFibGVyYW5nZTo2OWM5MDdmMThmYmQ0MzhmYjAyNmNlNmUyN2RkYTQ1MV85LTAtMS0xLTA_061f9467-90e4-40aa-b1ee-3a97102db0c2">7.75% Senior Notes due 2026</ix:nonNumeric></span></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:11pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"><ix:nonNumeric contextRef="ic2af07a6dccd46658604ddee50e3e0d6_D20200819-20200819" name="dei:TradingSymbol" id="id3VybDovL2RvY3MudjEvZG9jOjVjYzQwYWY2MzljOTQ5N2M5M2UzNWE0YzBmYzQ2MTliL3NlYzo1Y2M0MGFmNjM5Yzk0OTdjOTNlMzVhNGMwZmM0NjE5Yl8xL2ZyYWc6MzAzOWNmMmQ5MmU5NDY5YmJhNGFhMzlkNTFkNGQwNTMvdGFibGU6NjljOTA3ZjE4ZmJkNDM4ZmIwMjZjZTZlMjdkZGE0NTEvdGFibGVyYW5nZTo2OWM5MDdmMThmYmQ0MzhmYjAyNmNlNmUyN2RkYTQ1MV85LTEtMS0xLTA_9057ee09-3756-44cc-86c3-e50d4c29a3b3">VAL26*</ix:nonNumeric></span></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:11pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"><ix:nonNumeric contextRef="ic2af07a6dccd46658604ddee50e3e0d6_D20200819-20200819" format="ixt-sec:exchnameen" name="dei:SecurityExchangeName" id="id3VybDovL2RvY3MudjEvZG9jOjVjYzQwYWY2MzljOTQ5N2M5M2UzNWE0YzBmYzQ2MTliL3NlYzo1Y2M0MGFmNjM5Yzk0OTdjOTNlMzVhNGMwZmM0NjE5Yl8xL2ZyYWc6MzAzOWNmMmQ5MmU5NDY5YmJhNGFhMzlkNTFkNGQwNTMvdGFibGU6NjljOTA3ZjE4ZmJkNDM4ZmIwMjZjZTZlMjdkZGE0NTEvdGFibGVyYW5nZTo2OWM5MDdmMThmYmQ0MzhmYjAyNmNlNmUyN2RkYTQ1MV85LTMtMS0xLTA_aa651f2b-17ad-40cf-885a-74adf990b95a">New York Stock Exchange</ix:nonNumeric></span></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:11pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"><ix:nonNumeric contextRef="i05944ab9fc6843dc9988b8e922345510_D20200819-20200819" name="dei:Security12bTitle" id="id3VybDovL2RvY3MudjEvZG9jOjVjYzQwYWY2MzljOTQ5N2M5M2UzNWE0YzBmYzQ2MTliL3NlYzo1Y2M0MGFmNjM5Yzk0OTdjOTNlMzVhNGMwZmM0NjE5Yl8xL2ZyYWc6MzAzOWNmMmQ5MmU5NDY5YmJhNGFhMzlkNTFkNGQwNTMvdGFibGU6NjljOTA3ZjE4ZmJkNDM4ZmIwMjZjZTZlMjdkZGE0NTEvdGFibGVyYW5nZTo2OWM5MDdmMThmYmQ0MzhmYjAyNmNlNmUyN2RkYTQ1MV8xMC0wLTEtMS0w_b8ee4807-f74f-4bd9-866e-ee1f56b46273">5.4% Senior Note due 2042</ix:nonNumeric></span></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:11pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"><ix:nonNumeric contextRef="i05944ab9fc6843dc9988b8e922345510_D20200819-20200819" name="dei:TradingSymbol" id="id3VybDovL2RvY3MudjEvZG9jOjVjYzQwYWY2MzljOTQ5N2M5M2UzNWE0YzBmYzQ2MTliL3NlYzo1Y2M0MGFmNjM5Yzk0OTdjOTNlMzVhNGMwZmM0NjE5Yl8xL2ZyYWc6MzAzOWNmMmQ5MmU5NDY5YmJhNGFhMzlkNTFkNGQwNTMvdGFibGU6NjljOTA3ZjE4ZmJkNDM4ZmIwMjZjZTZlMjdkZGE0NTEvdGFibGVyYW5nZTo2OWM5MDdmMThmYmQ0MzhmYjAyNmNlNmUyN2RkYTQ1MV8xMC0xLTEtMS0w_a35e36fe-024a-4733-b10c-86579f908c65">VAL/42*</ix:nonNumeric></span></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:11pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"><ix:nonNumeric contextRef="i05944ab9fc6843dc9988b8e922345510_D20200819-20200819" format="ixt-sec:exchnameen" name="dei:SecurityExchangeName" id="id3VybDovL2RvY3MudjEvZG9jOjVjYzQwYWY2MzljOTQ5N2M5M2UzNWE0YzBmYzQ2MTliL3NlYzo1Y2M0MGFmNjM5Yzk0OTdjOTNlMzVhNGMwZmM0NjE5Yl8xL2ZyYWc6MzAzOWNmMmQ5MmU5NDY5YmJhNGFhMzlkNTFkNGQwNTMvdGFibGU6NjljOTA3ZjE4ZmJkNDM4ZmIwMjZjZTZlMjdkZGE0NTEvdGFibGVyYW5nZTo2OWM5MDdmMThmYmQ0MzhmYjAyNmNlNmUyN2RkYTQ1MV8xMC0zLTEtMS0w_956428f5-133d-45a5-bd16-966056ec55e7">New York Stock Exchange</ix:nonNumeric></span></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:11pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"><ix:nonNumeric contextRef="i638c4cb28a21402cbe4ea2e858353ea1_D20200819-20200819" name="dei:Security12bTitle" id="id3VybDovL2RvY3MudjEvZG9jOjVjYzQwYWY2MzljOTQ5N2M5M2UzNWE0YzBmYzQ2MTliL3NlYzo1Y2M0MGFmNjM5Yzk0OTdjOTNlMzVhNGMwZmM0NjE5Yl8xL2ZyYWc6MzAzOWNmMmQ5MmU5NDY5YmJhNGFhMzlkNTFkNGQwNTMvdGFibGU6NjljOTA3ZjE4ZmJkNDM4ZmIwMjZjZTZlMjdkZGE0NTEvdGFibGVyYW5nZTo2OWM5MDdmMThmYmQ0MzhmYjAyNmNlNmUyN2RkYTQ1MV8xMS0wLTEtMS0w_e2a782f4-d423-4f9e-8f3b-9a1fc56966fc">5.75% Senior Notes due 2044</ix:nonNumeric></span></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:11pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"><ix:nonNumeric contextRef="i638c4cb28a21402cbe4ea2e858353ea1_D20200819-20200819" name="dei:TradingSymbol" id="id3VybDovL2RvY3MudjEvZG9jOjVjYzQwYWY2MzljOTQ5N2M5M2UzNWE0YzBmYzQ2MTliL3NlYzo1Y2M0MGFmNjM5Yzk0OTdjOTNlMzVhNGMwZmM0NjE5Yl8xL2ZyYWc6MzAzOWNmMmQ5MmU5NDY5YmJhNGFhMzlkNTFkNGQwNTMvdGFibGU6NjljOTA3ZjE4ZmJkNDM4ZmIwMjZjZTZlMjdkZGE0NTEvdGFibGVyYW5nZTo2OWM5MDdmMThmYmQ0MzhmYjAyNmNlNmUyN2RkYTQ1MV8xMS0xLTEtMS0w_453369f7-4d46-4875-992e-c496097b0dc4">VAL44*</ix:nonNumeric></span></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:11pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"><ix:nonNumeric contextRef="i638c4cb28a21402cbe4ea2e858353ea1_D20200819-20200819" format="ixt-sec:exchnameen" name="dei:SecurityExchangeName" id="id3VybDovL2RvY3MudjEvZG9jOjVjYzQwYWY2MzljOTQ5N2M5M2UzNWE0YzBmYzQ2MTliL3NlYzo1Y2M0MGFmNjM5Yzk0OTdjOTNlMzVhNGMwZmM0NjE5Yl8xL2ZyYWc6MzAzOWNmMmQ5MmU5NDY5YmJhNGFhMzlkNTFkNGQwNTMvdGFibGU6NjljOTA3ZjE4ZmJkNDM4ZmIwMjZjZTZlMjdkZGE0NTEvdGFibGVyYW5nZTo2OWM5MDdmMThmYmQ0MzhmYjAyNmNlNmUyN2RkYTQ1MV8xMS0zLTEtMS0w_279a87f7-25ff-4368-be34-2a84ea1f4c9e">New York Stock Exchange</ix:nonNumeric></span></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:11pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"><ix:nonNumeric contextRef="id86ea9368fe64898a7d5f20b6e956a66_D20200819-20200819" name="dei:Security12bTitle" id="id3VybDovL2RvY3MudjEvZG9jOjVjYzQwYWY2MzljOTQ5N2M5M2UzNWE0YzBmYzQ2MTliL3NlYzo1Y2M0MGFmNjM5Yzk0OTdjOTNlMzVhNGMwZmM0NjE5Yl8xL2ZyYWc6MzAzOWNmMmQ5MmU5NDY5YmJhNGFhMzlkNTFkNGQwNTMvdGFibGU6NjljOTA3ZjE4ZmJkNDM4ZmIwMjZjZTZlMjdkZGE0NTEvdGFibGVyYW5nZTo2OWM5MDdmMThmYmQ0MzhmYjAyNmNlNmUyN2RkYTQ1MV8xMi0wLTEtMS0w_9d20f16a-da69-472a-9cd7-b121a946c0a9">5.85% Senior Note due 2044</ix:nonNumeric></span></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:11pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"><ix:nonNumeric contextRef="id86ea9368fe64898a7d5f20b6e956a66_D20200819-20200819" name="dei:TradingSymbol" id="id3VybDovL2RvY3MudjEvZG9jOjVjYzQwYWY2MzljOTQ5N2M5M2UzNWE0YzBmYzQ2MTliL3NlYzo1Y2M0MGFmNjM5Yzk0OTdjOTNlMzVhNGMwZmM0NjE5Yl8xL2ZyYWc6MzAzOWNmMmQ5MmU5NDY5YmJhNGFhMzlkNTFkNGQwNTMvdGFibGU6NjljOTA3ZjE4ZmJkNDM4ZmIwMjZjZTZlMjdkZGE0NTEvdGFibGVyYW5nZTo2OWM5MDdmMThmYmQ0MzhmYjAyNmNlNmUyN2RkYTQ1MV8xMi0xLTEtMS0w_cc4379d5-71db-4857-8fc5-4fced661df8a">VAL/44*</ix:nonNumeric></span></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:11pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"><ix:nonNumeric contextRef="id86ea9368fe64898a7d5f20b6e956a66_D20200819-20200819" format="ixt-sec:exchnameen" name="dei:SecurityExchangeName" id="id3VybDovL2RvY3MudjEvZG9jOjVjYzQwYWY2MzljOTQ5N2M5M2UzNWE0YzBmYzQ2MTliL3NlYzo1Y2M0MGFmNjM5Yzk0OTdjOTNlMzVhNGMwZmM0NjE5Yl8xL2ZyYWc6MzAzOWNmMmQ5MmU5NDY5YmJhNGFhMzlkNTFkNGQwNTMvdGFibGU6NjljOTA3ZjE4ZmJkNDM4ZmIwMjZjZTZlMjdkZGE0NTEvdGFibGVyYW5nZTo2OWM5MDdmMThmYmQ0MzhmYjAyNmNlNmUyN2RkYTQ1MV8xMi0zLTEtMS0w_5a841019-ca60-40bc-b02e-d28b7bac63ff">New York Stock Exchange</ix:nonNumeric></span></td></tr></table></div><div style="margin-top:6pt;"><span><br/></span></div><div style="text-align:justify;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:115%;">* On August 19, 2020, the New York Stock Exchange (&#8220;NYSE&#8221;) notified Valaris plc (&#8220;Valaris&#8221;) that the NYSE would apply to the Securities and Exchange Commission (the &#8220;SEC&#8221;) to delist the securities of Valaris. The delisting will be effective 10 days after a Form 25 is filed with the SEC by the NYSE. The deregistration of Valaris&#8217; securities under Section 12(b) of the Exchange Act will be effective 90 days, or such shorter period as the SEC may determine, after filing of the Form 25. Upon deregistration of Valaris&#8217; securities under Section 12(b) of the Exchange Act, they will remain registered under Section 12(g) of the Exchange Act.</span></div><div style="margin-top:6pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;">Indicate by check mark whether the registrant is an emerging growth company as defined by Rule 405 of the Securities Act of 1933 (17 CFR 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR 240.12b-2).</span><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;"> </span></div><div style="margin-top:11pt;margin-bottom:5pt;"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:99.853%;"><tr><td style="width:1.0%;"></td><td style="width:93.043%;"></td><td style="width:0.1%;"></td><td style="width:1.0%;"></td><td style="width:4.757%;"></td><td style="width:0.1%;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><span style="font-size:11pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Emerging Growth Company</span></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><span style="font-size:11pt;font-weight:400;font-family:'Wingdings',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"><ix:nonNumeric contextRef="ia4dfc98286da4aa08ec1e168aa5dca7d_D20200819-20200819" format="ixt-sec:boolballotbox" name="dei:EntityEmergingGrowthCompany" id="id3VybDovL2RvY3MudjEvZG9jOjVjYzQwYWY2MzljOTQ5N2M5M2UzNWE0YzBmYzQ2MTliL3NlYzo1Y2M0MGFmNjM5Yzk0OTdjOTNlMzVhNGMwZmM0NjE5Yl8xL2ZyYWc6MzAzOWNmMmQ5MmU5NDY5YmJhNGFhMzlkNTFkNGQwNTMvdGFibGU6NjQ1YzQ2MWM2Mzg5NGM1ZDhmZDA2OTA0NmY4MzFhNTgvdGFibGVyYW5nZTo2NDVjNDYxYzYzODk0YzVkOGZkMDY5MDQ2ZjgzMWE1OF8wLTEtMS0xLTA_aee42292-8baa-4a86-8129-94487fab5898">&#9744;</ix:nonNumeric></span></td></tr></table></div><div style="margin-top:11pt;margin-bottom:5pt;"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:99.853%;"><tr><td style="width:1.0%;"></td><td style="width:93.043%;"></td><td style="width:0.1%;"></td><td style="width:1.0%;"></td><td style="width:4.757%;"></td><td style="width:0.1%;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><div style="margin-top:6pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. </span></div></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><span style="font-size:11pt;font-weight:400;font-family:'Wingdings',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">&#9744;</span></td></tr></table></div><div style="margin-bottom:9pt;"><span><br/></span></div><div style="text-align:center;margin-bottom:9pt;"><span><br/></span></div><div style="position:relative;width:100%;height:42.75pt;"><div style="position:absolute;bottom:0;width:100%;"><div><span><br/></span></div></div></div><div id="i5cc40af639c9497c93e35a4c0fc4619b_7"></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%;"><div><span><br/></span></div></div><div style="margin-top:5pt;margin-bottom:5pt;"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:99.707%;"><tr><td style="width:1.0%;"></td><td style="width:14.882%;"></td><td style="width:0.1%;"></td><td style="width:1.0%;"></td><td style="width:82.918%;"></td><td style="width:0.1%;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><span style="font-size:11pt;font-weight:700;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Item 3.01</span></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><span style="font-size:11pt;font-weight:700;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing</span></td></tr></table></div><div style="text-align:justify;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">&#160;</span></div><div style="text-indent:36pt;text-align:justify;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:115%;">As previously disclosed on August 19, 2020, Valaris plc (the &#8220;Company&#8221;) and 89 of its subsidiaries (collectively, the &#8220;Debtors&#8221;), filed voluntary petitions for reorganization under Chapter 11 of the Bankruptcy Code (the &#8220;Chapter 11 Cases&#8221;) in the United States Bankruptcy Court for the Southern District of Texas (the &#8220;Bankruptcy Court&#8221;).</span></div><div style="text-align:justify;"><span><br/></span></div><div style="text-indent:36pt;text-align:justify;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:115%;">On August 19, 2020, the Company was notified by the New York Stock Exchange (the &#8220;NYSE&#8221;) that, as a result of the Chapter 11 Cases, and in accordance with Section 802.01D of the NYSE Listed Company Manual, the NYSE has determined to commence proceedings to delist the Company&#8217;s common stock from the NYSE. The NYSE also indefinitely suspended trading of the Company&#8217;s common stock on August 19, 2020. The NYSE will apply to the Securities and Exchange Commission (the &#8220;SEC&#8221;) to delist the Company&#8217;s common stock upon completion of all applicable procedures.</span></div><div style="text-indent:36pt;text-align:justify;"><span><br/></span></div><div style="text-indent:36pt;text-align:justify;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:115%;">The Company does not intend to appeal the NYSE determination. Therefore, the Company expects that its common stock will be delisted from the NYSE.</span></div><div style="text-indent:36pt;text-align:justify;"><span><br/></span></div><div style="text-indent:36pt;text-align:justify;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:115%;">Effective as of August 19, 2020, trading of the Company&#8217;s common stock commenced in the OTC Pink Open Market under the symbol &#8220;VALPQ&#8221;. The OTC Pink Open Market is a significantly more limited market than the NYSE, and quotation on the OTC Pink Open Market likely results in a less liquid market for existing and potential holders of the Company&#8217;s common stock to trade the Company&#8217;s common stock and could further depress the trading price of its common stock. The Company can provide no assurance that its common stock will continue to trade on this market, whether broker-dealers will continue to provide public quotes of the Company&#8217;s common stock on this market, or whether the trading volume of the Company&#8217;s common stock will be sufficient to provide for an efficient trading market.</span></div><div style="text-indent:36pt;text-align:justify;"><span><br/></span></div><div style="text-indent:36pt;text-align:justify;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:115%;">A copy of the Company&#8217;s press release, dated August 25, 2020, regarding the receipt of the notification from the NYSE is included as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.</span></div><div style="text-indent:18pt;text-align:justify;margin-bottom:10pt;"><span><br/></span></div><div id="i5cc40af639c9497c93e35a4c0fc4619b_170"></div><div><span><br/></span></div><div style="margin-bottom:6pt;"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:99.853%;"><tr><td style="width:1.0%;"></td><td style="width:15.151%;"></td><td style="width:0.1%;"></td><td style="width:1.0%;"></td><td style="width:82.649%;"></td><td style="width:0.1%;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><span style="font-size:11pt;font-weight:700;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Item 3.03</span></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><span style="font-size:11pt;font-weight:700;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Material Modifications to Rights of Security Holders.</span></td></tr></table></div><div style="text-indent:36pt;text-align:justify;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:115%;">The information set forth below in Item 8.01 of this Current Report on Form 8-K regarding the Interim Order (I) Approving Notification and Hearing Procedures for Certain Transfers of and Declarations of Worthlessness with Respect to Common Stock, and (II) Granting Related Relief Docket No. 110 (the &#8220;Order&#8221;) is incorporated herein by reference.</span></div><div><span><br/></span></div><div><span><br/></span></div><div id="i5cc40af639c9497c93e35a4c0fc4619b_10"></div><div style="margin-top:5pt;margin-bottom:5pt;"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:99.853%;"><tr><td style="width:1.0%;"></td><td style="width:15.151%;"></td><td style="width:0.1%;"></td><td style="width:1.0%;"></td><td style="width:82.649%;"></td><td style="width:0.1%;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><span style="font-size:11pt;font-weight:700;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Item 8.01</span></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><span style="font-size:11pt;font-weight:700;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Other Items. </span></td></tr></table></div><div><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</span></div><div style="text-indent:36pt;text-align:justify;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:115%;">On August 24, 2020, in connection with the Chapter 11 Cases, the Bankruptcy Court entered the Order. The Order is designed to assist the Debtors in preserving certain of their tax attributes by establishing, among other things, the procedures (including notice requirements) that certain stockholders and potential stockholders must comply with regarding transfers of the common stock (the &#8220;Procedures&#8221;), subject to certain exceptions as set forth in the Order. The Procedures, among other things, restrict certain transactions involving, and require notices of the holdings of and proposed transactions by, any person or entity that is or, as a result of such a transaction, would become a Substantial Shareholder (as defined below) of the Debtors&#8217; common stock. For purposes of the Procedures, a &#8220;Substantial Shareholder&#8221; is any entity or individual person that has beneficial ownership (as determined in accordance with applicable rules under Section 382 of the Internal Revenue Code of 1986, as amended) of, after taking into account certain options or other similar rights to acquire beneficial ownership of common stock, at least 4.5% of all issued and outstanding shares common stock as of the petition date.</span></div><div style="text-align:justify;"><span><br/></span></div><div style="position:relative;width:100%;height:42.75pt;"><div style="position:absolute;bottom:0;width:100%;"><div style="text-align:center;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">3</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%;"><div><span><br/></span></div></div><div style="text-indent:36pt;text-align:justify;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:115%;">The terms and conditions of the Procedures were immediately effective and enforceable upon entry of the Order by the Bankruptcy Court. Any actions in violation of the Procedures (including the notice requirements) are null and void ab initio and may be punished by contempt or other sanctions imposed by the Bankruptcy Court.</span></div><div style="text-indent:36pt;text-align:justify;"><span><br/></span></div><div style="text-indent:36pt;text-align:justify;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:115%;">The foregoing description of the Order does not purport to be complete and is qualified in its entirety by reference to the full text of the Order, which is attached hereto as Exhibit 4.1 and incorporated by reference herein.</span></div><div id="i5cc40af639c9497c93e35a4c0fc4619b_13"></div><div><span><br/></span></div><div style="margin-bottom:6pt;"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:99.707%;"><tr><td style="width:1.0%;"></td><td style="width:14.882%;"></td><td style="width:0.1%;"></td><td style="width:1.0%;"></td><td style="width:82.918%;"></td><td style="width:0.1%;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><span style="font-size:11pt;font-weight:700;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Item 9.01</span></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><span style="font-size:11pt;font-weight:700;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Financial Statements and Exhibits</span></td></tr><tr><td colspan="3" style="height:14pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="height:14pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><span style="font-size:11pt;font-weight:700;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Exhibit No.</span></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><span style="font-size:11pt;font-weight:700;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Description</span></td></tr><tr><td colspan="3" style="height:14pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="height:14pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><span style="font-size:11pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">4.1* </span></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><div><span style="background-color:rgb(255,255,255, 0.0);color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration: underline;"><a style="background-color:rgb(255,255,255, 0.0);color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration: underline;-sec-extract:exhibit;" href="exhibit41-valxnolequit.htm">Interim Order [I] Approving Notification and Hearing Procedures for Certain Transfers of and Declarations of Worthlessness with Respect to Common Stock, and [II] Granting Related Relief Docket No. 110.</a></span></div></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><span style="font-size:11pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">99.1*</span></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><div><span style="background-color:rgb(255,255,255, 0.0);color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration: underline;"><a style="background-color:rgb(255,255,255, 0.0);color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration: underline;-sec-extract:exhibit;" href="exhibit991-valxpressre.htm">Press Release Dated A</a><a style="background-color:rgb(255,255,255, 0.0);color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration: underline;-sec-extract:exhibit;" href="exhibit991-valxpressre.htm">ugust 2</a><a style="background-color:rgb(255,255,255, 0.0);color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration: underline;-sec-extract:exhibit;" href="exhibit991-valxpressre.htm">5, 2020</a></span></div></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><span style="font-size:11pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">104</span></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><span style="font-size:11pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Cover Page Interactive Data File (the cover page XBRL tags are embedded within the Inline XBRL document).</span></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><span style="font-size:11pt;font-weight:700;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">*</span></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><span style="font-size:11pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Included herewith.</span></td></tr></table></div><div><span><br/></span></div><div><span><br/></span></div><div><span><br/></span></div><div id="i5cc40af639c9497c93e35a4c0fc4619b_16"></div><div style="text-align:center;"><span><br/></span></div><div style="text-align:center;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%;">SIGNATURE</span></div><div style="text-align:justify;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;">&#160;</span></div><div style="text-indent:27pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</span></div><div><span><br/></span></div><div style="margin-top:5pt;margin-bottom:5pt;"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:99.707%;"><tr><td style="width:1.0%;"></td><td style="width:48.900%;"></td><td style="width:0.1%;"></td><td style="width:1.0%;"></td><td style="width:48.900%;"></td><td style="width:0.1%;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><span style="font-size:10pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">&#160;</span></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><span style="font-size:11pt;font-weight:700;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Valaris plc</span></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><span style="font-size:10pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">&#160;</span></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><span style="font-size:11pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">&#160;</span></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><span style="font-size:11pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Date: August 25, 2020</span></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><span style="font-size:11pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">/s/&#160;Michael T. McGuinty</span></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><span style="font-size:10pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">&#160;</span></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><span style="font-size:11pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Michael T. McGuinty</span></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><span style="font-size:10pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">&#160;</span></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><span style="font-size:11pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Senior Vice President and General Counsel</span></td></tr></table></div><div><span><br/></span></div><div><span><br/></span></div><div style="position:relative;width:100%;height:42.75pt;"><div style="position:absolute;bottom:0;width:100%;"><div style="text-align:center;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">4</span></div></div></div></body></html>
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<title>Document</title></head><body><div id="i3aa661dd872e44dfacb149130de21008_1"></div><div style="min-height:72pt;width:100%;"><div><font><br></font></div></div><div style="text-align:center;margin-bottom:12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%;">UNITED STATES BANKRUPTCY COURT</font></div><div style="text-align:center;margin-bottom:0.12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%;">SOUTHERN DISTRICT OF TEXAS</font></div><div style="text-align:center;margin-bottom:0.12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%;">HOUSTON DIVISION</font></div><div style="margin-bottom:6pt;"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:98.076%;"><tr><td style="width:1.0%;"></td><td style="width:53.475%;"></td><td style="width:0.1%;"></td><td style="width:1.0%;"></td><td style="width:2.004%;"></td><td style="width:0.1%;"></td><td style="width:1.0%;"></td><td style="width:41.221%;"></td><td style="width:0.1%;"></td></tr><tr><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">)</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">In re&#58;</font></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">)</font></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Chapter 11</font></td></tr><tr><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">)</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><div><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">VALARIS PLC, </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:400;line-height:120%;">et al</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">.,</font><sup style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:7.8pt;font-weight:400;line-height:120%;vertical-align:top;">1</sup></div></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">)</font></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Case No. 20-34114 (MI)</font></td></tr><tr><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">)</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Debtors.</font></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">)</font></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">(Jointly Administered)</font></td></tr><tr><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">)</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td></tr><tr><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;border-bottom:1pt solid #000000;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">)</font></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:700;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Re&#58; Docket No. 29</font></td></tr></table></div><div style="margin-bottom:6pt;"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:98.076%;"><tr><td style="width:1.0%;"></td><td style="width:98.900%;"></td><td style="width:0.1%;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;border-bottom:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><div style="text-align:center;margin-top:12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%;">INTERIM ORDER (I) APPROVING</font></div><div style="text-align:center;margin-top:0.12pt;margin-bottom:0.12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%;">NOTIFICATION AND HEARING PROCEDURES FOR CERTAIN </font></div><div style="text-align:center;margin-top:0.12pt;margin-bottom:0.12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%;">TRANSFERS OF AND DECLARATIONS OF WORTHLESSNESS WITH</font></div><div style="text-align:center;margin-top:0.12pt;margin-bottom:0.12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%;">RESPECT TO COMMON STOCK, AND (II) GRANTING RELATED RELIEF</font></div><div style="text-align:center;margin-bottom:12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%;">&#160;</font></div></td></tr></table></div><div style="text-indent:36pt;text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">Upon the motion</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:232%;"> </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">(the &#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;text-decoration: underline;">Motion</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">&#8221;)</font><sup style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:7.8pt;font-weight:400;line-height:232%;vertical-align:top;">2</sup><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;"> of the above-captioned debtors and debtors in possession (collectively, the &#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;text-decoration: underline;">Debtors</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">&#8221;) for entry of an interim order (this&#160;&#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;text-decoration: underline;">Interim Order</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">&#8221;), (a)&#160;approving the Procedures related to transfers of Beneficial Ownership of Common Stock, (b)&#160;directing that any purchase, sale, other transfer of, or declaration of worthlessness with respect to Common Stock in violation of the Procedures shall be null and void </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:400;line-height:232%;">ab initio</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">, and (c) scheduling a final hearing to consider approval of the Motion on a final basis, all as more fully set forth in the Motion&#59; and upon the First Day Declaration&#59; and this Court having jurisdiction over this matter pursuant to 28&#160;U.S.C.&#160;&#167; 1334&#59; and this Court having found that this is a core proceeding pursuant to 28&#160;U.S.C.&#160;&#167; 157(b)(2)&#59; and this Court having found that venue of this proceeding and the Motion in this district is proper pursuant to 28 U.S.C. &#167;&#167; 1408 and 1409&#59; and this Court having found that the relief requested in the Motion, as modified herein, is in t</font></div><div style="width:150pt;margin-top:10pt;margin-bottom:5pt;border-bottom:1pt solid black;"></div><div style="text-indent:-18pt;padding-left:18pt;text-align:justify;margin-bottom:6pt;"><sup style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;vertical-align:top;">1</sup><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;"> &#160;A complete list of each of the Debtors in these chapter 11 cases may be obtained on the website of the Debtors&#8217; proposed claims and noticing agent at </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration: underline;">http&#58;&#47;&#47;cases.stretto.com&#47;Valaris</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">.&#160; The location of Debtor Ensco Incorporated&#8217;s principal place of business and the Debtors&#8217; service address in these chapter 11 cases is 5847 San Felipe Street, Suite 3300, Houston, Texas 77057.  </font></div><div style="text-indent:-18pt;padding-left:18pt;margin-bottom:6pt;"><sup style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;vertical-align:top;">2 </sup><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">&#160;Capitalized terms used but not otherwise defined herein have the meanings ascribed to them in the Motion.</font></div><div style="position:relative;width:100%;height:72pt;"><div style="position:absolute;bottom:0;width:100%;"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%;"><div><font><br></font></div></div><div style="text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">he best interests of the Debtors&#8217; estates, their creditors, and other parties in interest&#59; and this Court having found that the Debtors&#8217; notice of the Motion and opportunity for a hearing on the Motion were appropriate under the circumstances and no other notice need be provided&#59; and this Court having reviewed the Motion and having heard the statements in support of the relief requested therein at a hearing before this Court (the&#160;&#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;text-decoration: underline;">Hearing</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">&#8221;)&#59; and this Court having determined that the legal and factual bases set forth in the Motion and at the Hearing establish just cause for the relief granted herein&#59; and upon all of the proceedings had before this Court&#59; and after due deliberation and sufficient cause appearing therefor, it is HEREBY ORDERED THAT&#58;</font></div><div style="text-indent:54pt;text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">1.</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;padding-left:9pt;">The final hearing (the&#160;&#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;text-decoration: underline;">Final Hearing</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">&#8221;) on the Motion shall be held on September&#160;17, 2020, at 9&#58;30 a.m., prevailing Central Time.&#160; Any objections or responses to entry of a final order on the Motion shall be filed on or before 4&#58;00&#160;p.m., prevailing Central Time, on September 14, 2020.  In the event no objections to entry of the Final Order on the Motion are timely received, the Court may enter such Final Order without need for the final hearing.</font></div><div style="text-indent:54pt;text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">2. The Procedures, as set forth in </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:232%;text-decoration: underline;">Exhibit&#160;1</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;"> attached hereto, are approved, </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:400;line-height:232%;">provided</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">,</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:400;line-height:232%;"> however</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">, any party in interest reserves the right to request emergency relief from the Procedures.</font></div><div style="text-indent:54pt;text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">3. Any transfer of or declaration of worthlessness with respect to Beneficial Ownership of Common Stock in violation of the Procedures, including but not limited to the notice requirements, shall be null and void </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:400;line-height:232%;">ab initio</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">.</font></div><div style="text-indent:54pt;text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">4. In the case of any such transfer of Beneficial Ownership of Common Stock in violation of the Procedures, including but not limited to the notice requirements, the person or entity making such transfer shall be required to take any remedial actions specified by the Debtors, which may include the actions specified in Private Letter Ruling 201010009 (Dec. 4, 2009), to appropriately reflect that such transfer is null and void </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:400;line-height:232%;">ab initio</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">.</font></div><div style="position:relative;width:100%;height:72pt;"><div style="position:absolute;bottom:0;width:100%;"><div style="text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">2</font></div><div style="margin-top:6pt;"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%;"><div><font><br></font></div></div><div style="text-indent:54pt;text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">5. In the case of any such declaration of worthlessness with respect to Beneficial Ownership of Common Stock in violation of the Procedures, including the notice requirements, the person or entity making such declaration shall be required to file an amended tax return revoking such declaration and any related deduction to appropriately reflect that such declaration is void </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:400;line-height:232%;">ab initio</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">.</font></div><div style="text-indent:54pt;text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">6. The Debtors may retroactively or prospectively waive any and all restrictions, stays, and notification procedures set forth in the Procedures.</font></div><div style="text-indent:54pt;text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">7. In addition to the Notice Procedures approved by this Interim Order, the Debtors shall&#160;publish the Notice of Interim Order once in the national edition of </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:400;line-height:232%;">The New York Times</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;"> and the Debtors shall post the Procedures to the website established by Stretto for these chapter&#160;11&#160;cases (http&#58;&#47;&#47;www.stretto.com&#47;Valaris), such notice being reasonably calculated to provide notice to all parties that may be affected by the Procedures, whether known or unknown.</font></div><div style="text-indent:54pt;text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">8. To the extent that this Interim Order is inconsistent with any prior order or pleading with respect to the Motion in these cases, the terms of this Interim Order shall govern.</font></div><div style="text-indent:54pt;text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">9. The requirements set forth in this Interim Order are in addition to the requirements of all applicable law and do not excuse compliance therewith.</font></div><div style="text-indent:54pt;text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">10. Notwithstanding anything to the contrary in this Interim Order, including, without limitation, the Procedures set forth herein and in the exhibits hereto, for a period of eight (8) business days commencing immediately upon entry of this Interim Order (or such later date as may be agreed by the Debtors), Luminus Management LLC, on behalf of itself and as investment manager for funds which maintain Beneficial Ownership of Common Stock (collectively, &#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;text-decoration: underline;">Luminus</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">&#8221;), shall be permitted to effectuate one or more transfers of Beneficial Ownership of Common Stock that would result in (a)&#160;a decrease in the amount of Common Stock of which Luminus has Beneficial Ownership or (b)&#160;Luminus ceasing to be a Substantial Shareholder without the need for Luminus to comply with the Procedures&#59; </font></div><div style="position:relative;width:100%;height:72pt;"><div style="position:absolute;bottom:0;width:100%;"><div style="text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">3</font></div><div style="margin-top:6pt;"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%;"><div><font><br></font></div></div><div style="text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:400;line-height:232%;">provided, however,</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;"> that Luminus shall not initially decrease its Beneficial Ownership to less than 5,000,000&#160;shares of Common Stock (representing approximately two and one-half&#160;percent (2.5%) of all issued and outstanding shares of Common Stock) as of the first date that Luminus would no longer be a Substantial Shareholder, but, after such date, Luminus may further decrease its Beneficial Ownership to the extent consistent with this Interim Order&#59; and, </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:400;line-height:232%;">provided</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">,  </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:400;line-height:232%;">further</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">, that, to the extent that, following the expiration of such eight (8) business day trading period, or as otherwise extended, Luminus is a Substantial Shareholder, any transfer of Beneficial Ownership of Common Stock by Luminus shall be subject to the Procedures&#59; and, </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:400;line-height:232%;">provided</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">, </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:400;line-height:232%;">further</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">, that to the extent applicable or necessary, the automatic stay under section&#160;362 of the Bankruptcy Code is hereby modified to permit a transfer of Beneficial Ownership of Common Stock by Luminus consistent with the provisions of this decretal paragraph&#160;10&#59; and, </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:400;line-height:232%;">provided</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">, </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:400;line-height:232%;">further</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">, that nothing in this decretal paragraph 10 shall exempt an entity other than Luminus from its obligation to comply with the Procedures, including, without, limitation, the Procedures in respect of effectuating any transfer of Beneficial Ownership of Common Stock that would result in an increase in the amount of Common Stock of which a Substantial Shareholder has Beneficial Ownership or would result in an entity or individual becoming a Substantial Shareholder.</font></div><div style="text-indent:54pt;text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">11. Notwithstanding the relief granted in this</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:232%;"> </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">Interim</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:232%;">&#160;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">Order and any actions taken pursuant to such relief, nothing in this Interim Order shall be deemed&#58;  (a) an admission as to the amount of, basis for, or validity of any claim against a Debtor entity under the Bankruptcy Code or other applicable nonbankruptcy law&#59; (b) a waiver of the Debtors&#8217; or any other party in interest&#8217;s right to dispute any claim on any grounds&#59; (c) a promise or requirement to pay any claim&#59; (d) an implication or admission that any particular claim is of a type specified or defined in the Motion or any order granting the relief requested by the Motion or a finding that any particular claim is an administrative expense claim or other priority claim&#59; (e) a request or authorization to assume, adopt, or reject any agreement, contract, or </font></div><div style="position:relative;width:100%;height:72pt;"><div style="position:absolute;bottom:0;width:100%;"><div style="text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">4</font></div><div style="margin-top:6pt;"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%;"><div><font><br></font></div></div><div style="text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">lease pursuant to section 365 of the Bankruptcy Code&#59; (f) an admission as to the validity, priority, enforceability, or perfection of any lien on, security interest in, or other encumbrance on property of the Debtors&#8217; estates&#59; (g)&#160;a&#160;waiver or limitation of the Debtors&#8217;, or any other party in interest&#8217;s, rights under the&#160;Bankruptcy Code or any other applicable law&#59; or (h) a concession by the Debtors that any liens (contractual, common law, statutory, or otherwise) that may be satisfied pursuant to the relief requested in the Motion, as modified herein, are valid, and the rights of all parties in interest are expressly reserved to contest the extent, validity, or perfection or seek avoidance of all such liens.</font></div><div style="text-indent:54pt;text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">12. Nothing herein shall preclude any person desirous of acquiring any Common Stock from requesting relief from this Interim Order from this Court, subject to the Debtors&#8217; rights to oppose such relief.</font></div><div style="text-indent:54pt;text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">13. Other than to the extent that this Interim Order expressly conditions or restricts trading in Common Stock, nothing in this Interim Order or in the Motion, as modified herein, shall, or shall be deemed to, prejudice, impair, or otherwise alter or affect the rights of any holders of Common Stock, including in connection with the treatment of any such stock under any chapter 11 plan or any applicable bankruptcy court order.</font></div><div style="text-indent:54pt;text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">14. The contents of the Motion satisfy the requirements of Bankruptcy Rule 6003(b).</font></div><div style="text-indent:54pt;text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">15. Notice of the Motion satisfies the requirements of Bankruptcy Rule&#160;6004(a) and the Bankruptcy Local Rules are satisfied by such notice.</font></div><div style="text-indent:54pt;text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">16. Notwithstanding Bankruptcy Rule 6004(h), the terms and conditions of this Interim Order are immediately effective and enforceable upon its entry.</font></div><div style="text-indent:54pt;text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">17. The Debtors are authorized to take all actions necessary to effectuate the relief granted in this Interim Order in accordance with the relief granted herein.</font></div><div style="position:relative;width:100%;height:72pt;"><div style="position:absolute;bottom:0;width:100%;"><div style="text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">5</font></div><div style="margin-top:6pt;"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%;"><div><font><br></font></div></div><div style="text-indent:54pt;text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">18. This Court retains exclusive jurisdiction with respect to all matters arising from or related to the implementation, interpretation, and enforcement of this Interim Order.</font></div><div style="margin-bottom:6pt;"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:98.076%;"><tr><td style="width:1.0%;"></td><td style="width:48.736%;"></td><td style="width:0.1%;"></td><td style="width:1.0%;"></td><td style="width:49.064%;"></td><td style="width:0.1%;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Houston, Texas</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Dated&#58;&#160;August 24, 2020</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td></tr><tr><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">&#47;s&#47; Marvin Isgur</font></td></tr><tr><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><div><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">MARVIN ISGUR</font></div><div><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">UNITED STATES BANKRUPTCY JUDGE</font></div></td></tr></table></div><div><font><br></font></div><div style="position:relative;width:100%;height:72pt;"><div style="position:absolute;bottom:0;width:100%;"><div style="text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">6</font></div><div style="margin-top:6pt;"><font><br></font></div></div></div><div id="i3aa661dd872e44dfacb149130de21008_4"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%;"><div><font><br></font></div></div><div style="text-align:center;margin-bottom:12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%;text-decoration: underline;">Exhibit 1</font></div><div style="text-align:center;margin-bottom:12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%;">Procedures for Transfers of and Declarations of Worthlessness with Respect to Beneficial Ownership of Common Stock</font></div><div><font><br></font></div><div style="position:relative;width:100%;height:72pt;"><div style="position:absolute;bottom:0;width:100%;"><div style="margin-top:6pt;"><font><br></font></div></div></div><div id="i3aa661dd872e44dfacb149130de21008_7"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%;"><div><font><br></font></div></div><div style="text-align:center;margin-bottom:12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%;text-decoration: underline;">PROCEDURES FOR TRANSFERS OF AND DECLARATIONS OF WORTHLESSNESS WITH RESPECT TO COMMON STOCK</font></div><div style="text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">The following procedures apply to transfers of Common Stock&#58;</font><sup style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:7.8pt;font-weight:400;line-height:232%;vertical-align:top;">3</sup></div><div style="text-indent:-18pt;padding-left:108pt;text-align:justify;margin-bottom:12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">a.</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;padding-left:9.68pt;">Any entity (as defined in section 101(15) of the Bankruptcy Code) who currently is or becomes a Substantial Shareholder (as defined herein) must file with the Court, and serve upon&#58;  (i)&#160;the Debtors, Valaris plc, 5847 San Felipe Street, Houston, Texas 77057, Attn.&#58; Michael McGuinty&#59; (ii)&#160;proposed counsel to the Debtors, Kirkland &#38; Ellis LLP, 300 North LaSalle, Chicago, Illinois 60654, Attn.&#58;&#160;Anup Sathy, P.C., Ross&#160;M.&#160;Kwasteniet,&#160;P.C., and Spencer A.&#160;Winters&#59; (iii)&#160;proposed co&#30;counsel for the Debtors, Jackson Walker L.L.P., 1401 McKinney Street, Suite 1900, Houston, Texas 77010, Attn&#58; Matthew&#160;D.&#160;Cavenaugh&#59; (iv)&#160;counsel to the Bondholder Group and the DIP Lenders, Kramer Levin Naftalis &#38; Frankel LLP, 1177 Avenue of the Americas, New York, New York 10036, Attn&#58; Thomas Moers Mayer, Douglas Mannal, and Nathaniel Allard&#59; (v) counsel to the administrative agent under the Revolving Credit Facility, Shearman &#38; Sterling, 599&#160;Lexington Avenue, New York, New York 10022, Attn&#58; Fredric Sosnick and Michael Giuppone&#59; (vi)&#160;the transfer agent for the Debtors&#8217; Common Stock, Computershare, 250 Royall Street, Canton, Massachusetts 02021, and 222 N. Pacific Coast Highway, 3rd Floor, El&#160;Segundo, California 90245, Attn&#58;&#160;Bridget Huerta&#59; (vii)&#160;counsel to any statutory committee appointed in these cases&#59; (viii) the United States Trustee, 1515 Rusk Street Houston, Texas 77002&#59; and (ix)&#160;to the extent not listed herein, those parties requesting notice pursuant to Bankruptcy Rule 2002 (collectively, the&#160;&#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;text-decoration: underline;">Notice&#160;Parties</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">&#8221;), a declaration of such status, substantially in the form of </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%;text-decoration: underline;">Exhibit&#160;1A</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;"> attached to these Procedures (each, a&#160;&#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;text-decoration: underline;">Declaration of Status as a Substantial Shareholder</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">&#8221;), on or before the later of (i)&#160;30 calendar days after the date of the Notice of Interim Order (as defined herein), or (ii)&#160;10 calendar days after becoming a Substantial Shareholder&#59; </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:400;line-height:120%;">provided</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;"> that, for the avoidance of doubt, the other procedures set forth herein shall apply to any Substantial Shareholder even if no Declaration of Status as a Substantial Shareholder has been filed.</font></div><div style="text-indent:-18pt;padding-left:108pt;text-align:justify;margin-bottom:0.12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">b.</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;padding-left:9pt;">Prior to effectuating any transfer of Beneficial Ownership of Common Stock that would result in an increase in the amount of Common Stock of which a Substantial Shareholder has Beneficial Ownership or would result in an entity or individual becoming a Substantial Shareholder, the parties to such transaction must file with the Court, and serve upon the Notice Parties, an advance written declaration of the intended transfer of Common Stock, substantially in the form of </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%;text-decoration: underline;">Exhibit&#160;1B</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;"> attached to these </font></div><div style="width:150pt;margin-top:10pt;margin-bottom:5pt;border-bottom:1pt solid black;"></div><div style="text-indent:-18pt;padding-left:18pt;margin-bottom:6pt;"><sup style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;vertical-align:top;">3</sup><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;"> &#160;Capitalized terms used herein but not otherwise defined herein have the meanings ascribed to them in the Motion.</font></div><div style="position:relative;width:100%;height:72pt;"><div style="position:absolute;bottom:0;width:100%;"><div style="margin-top:6pt;"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%;"><div><font><br></font></div></div><div style="padding-left:108pt;text-align:justify;margin-bottom:0.12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">Procedures (each, a&#160;&#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;text-decoration: underline;">Declaration of Intent to Accumulate Common Stock</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">&#8221;).</font></div><div style="padding-left:72pt;text-align:justify;"><font><br></font></div><div style="text-indent:-18pt;padding-left:108pt;text-align:justify;margin-bottom:0.12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">c.</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;padding-left:9.68pt;">Prior to effectuating any transfer of Beneficial Ownership of Common Stock that would result in a decrease in the amount of Common Stock of which a Substantial Shareholder has Beneficial Ownership or would result in an entity or individual ceasing to be a Substantial Shareholder, the parties to such transaction must file with the Court, and serve upon the Notice Parties, an advance written declaration of the intended transfer of Common Stock, substantially in the form of </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%;text-decoration: underline;">Exhibit&#160;1C</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;"> attached to these Procedures (each, a&#160;&#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;text-decoration: underline;">Declaration of Intent to Transfer Common Stock</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">,&#8221; and together with a Declaration of Intent to Accumulate Common Stock, each, a&#160;&#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;text-decoration: underline;">Declaration of Proposed Transfer</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">&#8221;).</font></div><div style="padding-left:72pt;text-align:justify;"><font><br></font></div><div style="text-indent:-18pt;padding-left:108pt;text-align:justify;margin-bottom:0.12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">d.</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;padding-left:9pt;">The Debtors shall have 30&#160;calendar days after receipt of a Declaration of Proposed Transfer to file with the Court and serve on such Substantial Shareholder or potential Substantial Shareholder an objection to any proposed transfer of Beneficial Ownership of Common Stock described in the Declaration of Proposed Transfer on the grounds that such transfer might adversely affect the Debtors&#8217; ability to utilize their Tax Attributes.  If the Debtors file an objection, such transaction will remain ineffective unless such objection is withdrawn by the Debtors, or such transaction is approved by a final and non-appealable order of the Court.  If the Debtors do not object within such 30-day period, such transaction can proceed solely as set forth in the Declaration of Proposed Transfer.  Further transactions within the scope of this paragraph must be the subject of additional notices in accordance with the procedures set forth herein, with an additional 30&#30;day waiting period for each Declaration of Proposed Transfer.</font></div><div style="padding-left:72pt;text-align:justify;"><font><br></font></div><div style="text-indent:-18pt;padding-left:108pt;text-align:justify;margin-bottom:0.12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">e.</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;padding-left:9.68pt;">For purposes of these Procedures a &#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;text-decoration: underline;">Substantial Shareholder</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">&#8221; is any entity or individual person that has Beneficial Ownership of at least 8,974,359&#160;shares of Common Stock (representing approximately 4.5&#160;percent of all issued and outstanding shares of Common Stock).</font><sup style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:7.8pt;font-weight:400;line-height:120%;vertical-align:top;">4</sup></div><div style="padding-left:72pt;text-align:justify;margin-bottom:0.12pt;"><font><br></font></div><div style="margin-bottom:12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">The following procedures apply for declarations of worthlessness of Common Stock&#58;</font></div><div style="width:150pt;margin-top:10pt;margin-bottom:5pt;border-bottom:1pt solid black;"></div><div style="text-indent:-18pt;padding-left:18pt;text-align:justify;margin-bottom:6pt;"><sup style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;vertical-align:top;">4</sup><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;"> &#160;Based on approximately 199,430,217 shares of Common Stock outstanding for purposes of Section 382 of the IRC as of July 24, 2020. </font></div><div style="position:relative;width:100%;height:72pt;"><div style="position:absolute;bottom:0;width:100%;"><div style="text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">2</font></div><div style="margin-top:6pt;"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%;"><div><font><br></font></div></div><div style="text-indent:-18pt;padding-left:108pt;padding-right:5.75pt;text-align:justify;margin-bottom:12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">a.</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;padding-left:9.68pt;">Any person or entity that currently is or becomes a 50-Percent Shareholder</font><sup style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:7.8pt;font-weight:400;line-height:120%;vertical-align:top;">5</sup><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%;"> </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">must file with the Court and serve upon the Notice Parties a Declaration of Status as a 50-Percent Shareholder, substantially in the form attached to the Procedures as </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%;text-decoration: underline;">Exhibit 1D</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">, on or before the later of (i) 30 calendar days after the date of the Notice of Interim Order, and (ii)&#160;ten calendar days after becoming a 50-Percent Shareholder&#59; </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:400;line-height:120%;">provided</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;"> that, for the avoidance of doubt, the other Procedures set forth herein shall apply to any 50-Percent Shareholder even if no Declaration of Status as a 50-Percent Shareholder has been filed.</font></div><div style="text-indent:-36pt;padding-left:108pt;text-align:justify;margin-bottom:12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">a.</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;padding-left:27.68pt;">Prior to filing any federal or state tax return, or any amendment to such a return, or taking any other action that claims any deduction for worthlessness of Beneficial Ownership of Common Stock for a taxable year ending before the Debtors&#8217; emergence from chapter 11 protection, such 50-Percent Shareholder must file with the Court and serve upon the Notice Parties a declaration of intent to claim a worthless stock deduction (a&#160;&#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;text-decoration: underline;">Declaration of Intent to Claim a Worthless Stock Deduction</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">&#8221;), substantially in the form attached to the Procedures as </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%;text-decoration: underline;">Exhibit 1E</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">. </font></div><div style="text-indent:-36pt;padding-left:180pt;text-align:justify;margin-bottom:12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">i.</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;padding-left:29.67pt;">The Debtors shall have 30 calendar days after receipt of a Declaration of Intent to Claim a Worthless Stock Deduction to file with the Court and serve on such 50-Percent Shareholder an objection to any proposed claim of worthlessness described in the Declaration of Intent to Claim a Worthless Stock Deduction on the grounds that such claim might adversely affect the Debtors&#8217; ability to utilize their Tax Attributes.</font></div><div style="text-indent:-36pt;padding-left:180pt;text-align:justify;margin-bottom:12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">ii.</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;padding-left:26.34pt;">If the Debtors timely object, the filing of the tax return or amendment thereto with such claim will not be permitted unless approved by a final and non-appealable order of the Court, unless the Debtors withdraw such objection.</font></div><div style="text-indent:-36pt;padding-left:180pt;text-align:justify;margin-bottom:12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">iii.</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;padding-left:23.01pt;">If the Debtors do not object within such 30-day period, the filing of the return or amendment with such claim will be permitted solely as described in the Declaration of Intent to Claim a Worthless Stock Deduction.  Additional returns and amendments within the scope of this section must be the subject of additional notices as set forth herein, with an additional 30-day waiting period.  To the extent that the Debtors receive an appropriate Declaration of Intent to </font></div><div style="width:150pt;margin-top:10pt;margin-bottom:5pt;border-bottom:1pt solid black;"></div><div style="text-indent:-18pt;padding-left:18pt;text-align:justify;margin-bottom:6pt;"><sup style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;vertical-align:top;">5</sup><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;"> &#160;For purposes of the Procedures, a &#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration: underline;">50-Percent Shareholder</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">&#8221; is any person or entity that at any time since December 31, 2016 has had Beneficial Ownership of 50 percent or more of the Common Stock of the Debtors (determined in accordance with section 382(g)(4)(D) of the IRC and the applicable Treasury Regulations thereunder).</font></div><div style="position:relative;width:100%;height:72pt;"><div style="position:absolute;bottom:0;width:100%;"><div style="text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">3</font></div><div style="margin-top:6pt;"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%;"><div><font><br></font></div></div><div style="padding-left:180pt;text-align:justify;margin-bottom:12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">Claim a Worthless Stock Deduction and determine in their business judgment not to object, they shall provide notice of that decision as soon as is reasonably practicable to any statutory committee(s) appointed in these chapter 11 cases.</font></div><div style="margin-bottom:12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">The following notice procedures apply to these Procedures&#58;</font></div><div style="text-indent:-36pt;padding-left:108pt;text-align:justify;margin-bottom:12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">b.</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;padding-left:27pt;">No later than two business days following entry of the Interim Order, the Debtors shall serve a notice by first class mail, substantially in the form of </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%;text-decoration: underline;">Exhibit&#160;1F</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;"> attached to these Procedures (the&#160;&#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;text-decoration: underline;">Notice of Interim Order</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">&#8221;), on&#58;  (i) the Office of the United States Trustee for the Southern District of Texas&#59; (ii) the entities listed as holding the 30 largest unsecured claims against the Debtors (on a consolidated basis)&#59; (iii) the agent for the Debtors&#8217; revolving credit facility, and counsel thereto&#59; (iv) the indenture trustees for each of the Debtors&#8217; unsecured notes, and their respective counsel thereto&#59; (v) the Internal Revenue Service&#59; (vi) the U.S. Securities and Exchange Commission&#59; (vii) any official committees appointed in these chapter 11 cases&#59; (viii) counsel to the Bondholder Group and the DIP Lenders&#59; and (ix) all registered and nominee holders of Common Stock (with instructions to serve down to the beneficial holders of Common Stock, as applicable).  Additionally, no later than two business days following entry of the Final Order, the Debtors shall serve a Notice of Interim Order modified to reflect that the Final Order has been entered (as modified, the&#160;&#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;text-decoration: underline;">Notice of Final Order</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">&#8221;) on the same entities and individuals that received the Notice of Interim Order.</font></div><div style="text-indent:-36pt;padding-left:108pt;text-align:justify;margin-bottom:12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">c.</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;padding-left:27.68pt;">All registered and nominee holders of Common Stock shall be required to serve the Notice of Interim Order or Notice of Final Order, as applicable, on any holder for whose benefit such registered or nominee holder holds such Common Stock down the chain of ownership for all such holders of Common Stock.  </font></div><div style="text-indent:-36pt;padding-left:108pt;text-align:justify;margin-bottom:12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">d.</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;padding-left:27pt;">Any entity or individual, or broker or agent acting on such entity&#8217;s or individual&#8217;s behalf, who sells Common Stock to another entity or individual shall be required to serve a copy of the Notice of Interim Order or Notice of Final Order, as applicable, on such purchaser of such Common Stock, or any broker or agent acting on such purchaser&#8217;s behalf. </font></div><div style="text-indent:-36pt;padding-left:108pt;text-align:justify;margin-bottom:12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">e.</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;padding-left:27.68pt;">As soon as is practicable following entry of the Interim Order, the Debtors shall (i) post a copy of the Notice of Interim Order on the Claims Agent website at http&#58;&#47;&#47;www.stretto.com&#47;valaris and (ii) file a Form 8-K with a reference to the entry of the Interim Order.</font></div><div style="text-indent:-36pt;padding-left:108pt;text-align:justify;margin-bottom:12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">f.</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;padding-left:29.01pt;">To the extent confidential information is required in any declaration described in these Procedures, such confidential information may be filed and served in redacted form&#59; </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:400;line-height:120%;">provided</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;"> that any such declarations served on </font></div><div style="position:relative;width:100%;height:72pt;"><div style="position:absolute;bottom:0;width:100%;"><div style="text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">4</font></div><div style="margin-top:6pt;"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%;"><div><font><br></font></div></div><div style="padding-left:108pt;text-align:justify;margin-bottom:12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">the Debtors </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:700;line-height:120%;">shall</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:400;line-height:120%;"> </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:700;line-height:120%;">not </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">be in redacted form.  The Debtors shall keep all information provided in such declarations strictly confidential and shall not disclose the contents thereof to any person except (i)&#160;to the extent necessary to respond to a petition or objection filed with the Court&#59; (ii)&#160;to the extent otherwise required by law&#59; or (iii)&#160;to the extent that the information contained therein is already public&#59; </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:400;line-height:120%;">provided </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">that the Debtors may disclose the contents thereof to their professional advisors, who shall keep all such notices strictly confidential and shall not disclose the contents thereof to any other person, subject to further Court order.  To the extent confidential information is necessary to respond to a petitioner objection filed with the Court, such confidential information shall be filed under seal or in a redacted form.</font></div><div style="text-align:center;"><font><br></font></div><div style="position:relative;width:100%;height:72pt;"><div style="position:absolute;bottom:0;width:100%;"><div style="text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">5</font></div><div style="margin-top:6pt;"><font><br></font></div></div></div><div id="i3aa661dd872e44dfacb149130de21008_10"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%;"><div><font><br></font></div></div><div style="text-align:center;margin-bottom:6pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%;text-decoration: underline;">Exhibit 1A</font></div><div style="text-align:center;margin-bottom:12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%;">Declaration of Status as a Substantial Shareholder</font></div><div style="position:relative;width:100%;height:72pt;"><div style="position:absolute;bottom:0;width:100%;"><div style="margin-top:6pt;"><font><br></font></div></div></div><div id="i3aa661dd872e44dfacb149130de21008_13"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%;"><div><font><br></font></div></div><div style="text-align:center;margin-bottom:12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%;">UNITED STATES BANKRUPTCY COURT</font></div><div style="text-align:center;margin-bottom:0.12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%;">SOUTHERN DISTRICT OF TEXAS</font></div><div style="text-align:center;margin-bottom:0.12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%;">HOUSTON DIVISION</font></div><div style="margin-bottom:6pt;"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:98.076%;"><tr><td style="width:1.0%;"></td><td style="width:53.475%;"></td><td style="width:0.1%;"></td><td style="width:1.0%;"></td><td style="width:2.004%;"></td><td style="width:0.1%;"></td><td style="width:1.0%;"></td><td style="width:41.221%;"></td><td style="width:0.1%;"></td></tr><tr><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">)</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">In re&#58;</font></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">)</font></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Chapter 11</font></td></tr><tr><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">)</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><div><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">VALARIS PLC, </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:400;line-height:120%;">et al</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">.,</font><sup style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:7.8pt;font-weight:400;line-height:120%;vertical-align:top;">6</sup></div></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">)</font></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Case No. 20-34114 (MI)</font></td></tr><tr><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">)</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Debtors.</font></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">)</font></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">(Jointly Administered)</font></td></tr><tr><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">)</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td></tr><tr><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;border-bottom:1pt solid #000000;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">)</font></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:700;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Re&#58; Docket No. __</font></td></tr></table></div><div style="margin-bottom:6pt;"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:98.076%;"><tr><td style="width:1.0%;"></td><td style="width:98.900%;"></td><td style="width:0.1%;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:top;border-bottom:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:700;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">DECLARATION OF A STATUS AS A SUBSTANTIAL SHAREHOLDER<sup style="font-size:7.8pt;vertical-align:top;">7</sup></font></td></tr></table></div><div style="text-indent:36pt;text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:232%;">PLEASE TAKE NOTICE</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;"> that the undersigned party is&#47;has become a Substantial Shareholder with respect to the common stock of Valaris plc or of any Beneficial Ownership therein (the&#160;&#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;text-decoration: underline;">Common Stock</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">&#8221;).  Valaris plc is a debtor and debtor in possession in Case&#160;No.&#160;20&#30;34114&#160;(MI) pending in the United States Bankruptcy Court for the Southern District of Texas (the &#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;text-decoration: underline;">Court</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">&#8221;).</font></div><div style="text-indent:36pt;text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:232%;">PLEASE TAKE FURTHER NOTICE</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;"> that, as of __________ __, 2020, the undersigned party currently has Beneficial Ownership of _________ shares of Common Stock.  </font></div><div style="width:150pt;margin-top:10pt;margin-bottom:5pt;border-bottom:1pt solid black;"></div><div style="text-indent:-18pt;padding-left:18pt;text-align:justify;margin-bottom:6pt;"><sup style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;vertical-align:top;">6</sup><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;"> &#160;A complete list of each of the Debtors in these chapter 11 cases may be obtained on the website of the Debtors&#8217; proposed claims and noticing agent at </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration: underline;">http&#58;&#47;&#47;cases.stretto.com&#47;Valaris</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">.&#160; The location of Debtor Ensco Incorporated&#8217;s principal place of business and the Debtors&#8217; service address in these chapter 11 cases is 5847 San Felipe Street, Suite 3300, Houston, Texas 77057.  </font></div><div style="text-indent:-18pt;padding-left:18pt;text-align:justify;margin-bottom:6pt;"><sup style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;vertical-align:top;">7</sup><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">&#160;For purposes of these Procedures&#58;&#160; (i)&#160;a &#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration: underline;">Substantial Shareholder</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">&#8221; is any entity or individual that has Beneficial Ownership of at least 8,974,359&#160;shares of Common Stock (representing approximately 4.5 percent of all issued and outstanding shares of Common Stock)&#59; (ii)&#160;&#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration: underline;">Beneficial Ownership</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">&#8221; will be determined in accordance with the applicable rules of sections 382 and 383 of the Internal Revenue Code of 1986, 26 U.S.C. &#167;&#167; 1&#8211;9834 as amended (the &#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration: underline;">IRC</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">&#8221;), and the Treasury Regulations thereunder (other than Treasury Regulations section&#160;1.382&#30;2T(h)(2)(i)(A)), and includes direct, indirect, and constructive ownership (</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;">e.g.</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">, (1) a holding company would be considered to beneficially own all equity securities owned by its subsidiaries, (2) a partner in a partnership would be considered to beneficially own its proportionate share of any equity securities owned by such partnership, (3)&#160;an individual and such individual&#8217;s family members may be treated as one individual, (4)&#160;persons and entities acting in concert to make a coordinated acquisition of equity securities may be treated as a single entity, and (5)&#160;a holder would be considered to beneficially own equity securities that such holder has an Option to acquire).  An &#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration: underline;">Option</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">&#8221; to acquire stock includes all interests described in Treasury Regulations section&#160;1.382-4(d)(9), including any contingent purchase right, warrant, convertible debt, put, call, stock subject to risk of forfeiture, contract to acquire stock, or similar interest, regardless of whether it is contingent or otherwise not currently exercisable.</font></div><div style="position:relative;width:100%;height:72pt;"><div style="position:absolute;bottom:0;width:100%;"><div style="margin-top:6pt;"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%;"><div><font><br></font></div></div><div style="text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">The following table sets forth the date(s) on which the undersigned party acquired Beneficial Ownership of such Common Stock&#58;</font></div><div style="margin-bottom:6pt;"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:98.076%;"><tr><td style="width:1.0%;"></td><td style="width:60.011%;"></td><td style="width:0.1%;"></td><td style="width:1.0%;"></td><td style="width:37.789%;"></td><td style="width:0.1%;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:top;border-top:1pt solid #000000;border-left:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:700;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Number of Shares</font></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:top;border-top:1pt solid #000000;border-left:1pt solid #000000;padding-left:1pt;border-right:1pt solid #000000;padding-right:1pt;"><font style="font-size:12pt;font-weight:700;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Date Acquired</font></td></tr><tr><td colspan="3" style="height:15pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;border-top:1pt solid #000000;border-left:1pt solid #000000;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="height:15pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;border-top:1pt solid #000000;border-left:1pt solid #000000;padding-left:1pt;border-right:1pt solid #000000;padding-right:1pt;"></td></tr><tr><td colspan="3" style="height:15pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;border-top:1pt solid #000000;border-left:1pt solid #000000;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="height:15pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;border-top:1pt solid #000000;border-left:1pt solid #000000;padding-left:1pt;border-right:1pt solid #000000;padding-right:1pt;"></td></tr><tr><td colspan="3" style="height:15pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;border-top:1pt solid #000000;border-left:1pt solid #000000;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="height:15pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;border-top:1pt solid #000000;border-left:1pt solid #000000;padding-left:1pt;border-right:1pt solid #000000;padding-right:1pt;"></td></tr><tr><td colspan="3" style="height:15pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;border-top:1pt solid #000000;border-left:1pt solid #000000;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="height:15pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;border-top:1pt solid #000000;border-left:1pt solid #000000;padding-left:1pt;border-right:1pt solid #000000;padding-right:1pt;"></td></tr><tr><td colspan="3" style="height:15pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;border-top:1pt solid #000000;border-bottom:1pt solid #000000;border-left:1pt solid #000000;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="height:15pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;border-top:1pt solid #000000;border-bottom:1pt solid #000000;border-left:1pt solid #000000;padding-left:1pt;border-right:1pt solid #000000;padding-right:1pt;"></td></tr></table></div><div style="text-align:center;"><font><br></font></div><div style="text-align:center;margin-bottom:12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">(Attach additional page or pages if necessary)</font></div><div style="text-indent:36pt;text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:232%;">PLEASE TAKE FURTHER NOTICE</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;"> that the last four digits of the taxpayer identification number of the undersigned party are ________.</font></div><div style="text-indent:36pt;text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:232%;">PLEASE TAKE FURTHER NOTICE</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;"> that, pursuant to that certain </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:400;line-height:232%;">Interim Order (I)&#160;Approving Notification and Hearing Procedures for Certain Transfers of and Declarations of Worthlessness with Respect to Common Stock and (II) Granting Related Relief </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">&#91;Docket No.&#160;___&#93; (the&#160;&#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;text-decoration: underline;">Order</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">&#8221;), this declaration (this&#160;&#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;text-decoration: underline;">Declaration</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">&#8221;) is being filed with the Court and served upon the Debtors&#59; Kirkland &#38; Ellis LLP, proposed counsel to the Debtors&#59; and any other parties entitled to notice under the Order.</font></div><div style="text-indent:36pt;text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:232%;">PLEASE TAKE FURTHER NOTICE</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;"> that, pursuant to 28 U.S.C. &#167; 1746, under penalties of perjury, the undersigned party hereby declares that he or she has examined this Declaration and accompanying attachments (if any), and, to the best of his or her knowledge and belief, this Declaration and any attachments hereto are true, correct, and complete.</font></div><div style="text-indent:36pt;text-align:justify;"><font><br></font></div><div style="text-align:justify;"><font><br></font></div><div style="text-align:justify;"><font><br></font></div><div style="text-align:justify;"><font><br></font></div><div style="text-align:justify;"><font><br></font></div><div style="text-align:justify;"><font><br></font></div><div style="text-align:justify;"><font><br></font></div><div style="position:relative;width:100%;height:72pt;"><div style="position:absolute;bottom:0;width:100%;"><div style="text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">2</font></div><div style="margin-top:6pt;"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%;"><div><font><br></font></div></div><div style="padding-left:252pt;margin-bottom:12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">Respectfully submitted,</font></div><div style="padding-left:252pt;margin-bottom:12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">(Name of Substantial Shareholder)</font></div><div style="margin-bottom:6pt;"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:46.153%;"><tr><td style="width:1.0%;"></td><td style="width:98.900%;"></td><td style="width:0.1%;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">By&#58;  ________________________________</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Name&#58;  _____________________________</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Address&#58;  ___________________________</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">___________________________________</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Telephone&#58;  _________________________</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Facsimile&#58;  __________________________</font></td></tr></table></div><div style="margin-bottom:12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">Dated&#58;&#160;_____________ __, 20__</font></div><div><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">_______________, __________</font></div><div style="margin-bottom:12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(City)&#160;&#160;(State)</font></div><div style="position:relative;width:100%;height:72pt;"><div style="position:absolute;bottom:0;width:100%;"><div style="text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">3</font></div><div style="margin-top:6pt;"><font><br></font></div></div></div><div id="i3aa661dd872e44dfacb149130de21008_16"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%;"><div><font><br></font></div></div><div style="text-align:center;margin-bottom:12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%;text-decoration: underline;">Exhibit 1B</font></div><div style="text-align:center;margin-bottom:12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%;">Declaration of Intent to Accumulate Common Stock</font></div><div style="position:relative;width:100%;height:72pt;"><div style="position:absolute;bottom:0;width:100%;"><div style="margin-top:6pt;"><font><br></font></div></div></div><div id="i3aa661dd872e44dfacb149130de21008_19"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%;"><div><font><br></font></div></div><div style="text-align:center;margin-bottom:12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%;">UNITED STATES BANKRUPTCY COURT</font></div><div style="text-align:center;margin-bottom:0.12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%;">SOUTHERN DISTRICT OF TEXAS</font></div><div style="text-align:center;margin-bottom:0.12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%;">HOUSTON DIVISION</font></div><div style="margin-bottom:6pt;"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:98.076%;"><tr><td style="width:1.0%;"></td><td style="width:53.475%;"></td><td style="width:0.1%;"></td><td style="width:1.0%;"></td><td style="width:2.004%;"></td><td style="width:0.1%;"></td><td style="width:1.0%;"></td><td style="width:41.221%;"></td><td style="width:0.1%;"></td></tr><tr><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">)</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">In re&#58;</font></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">)</font></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Chapter 11</font></td></tr><tr><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">)</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><div><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">VALARIS PLC, </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:400;line-height:120%;">et al</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">.,</font><sup style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:7.8pt;font-weight:400;line-height:120%;vertical-align:top;">8</sup></div></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">)</font></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Case No. 20-34114 (MI)</font></td></tr><tr><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">)</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Debtors.</font></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">)</font></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">(Jointly Administered)</font></td></tr><tr><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">)</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td></tr><tr><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;border-bottom:1pt solid #000000;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">)</font></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:700;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Re&#58; Docket No. __</font></td></tr></table></div><div style="margin-bottom:6pt;"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:98.076%;"><tr><td style="width:1.0%;"></td><td style="width:98.900%;"></td><td style="width:0.1%;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;border-bottom:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><div style="text-align:center;margin-top:12pt;margin-bottom:0.12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;DECLARATION OF INTENT TO ACCUMULATE COMMON STOCK </font><sup style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:7.8pt;font-weight:700;line-height:120%;vertical-align:top;">9</sup></div></td></tr></table></div><div style="text-indent:36pt;text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:232%;">PLEASE TAKE NOTICE</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;"> that the undersigned party hereby provides notice of its intention to purchase, acquire, or otherwise accumulate (the&#160;&#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;text-decoration: underline;">Proposed Transfer</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">&#8221;) one or more shares of common stock of Valaris plc or of any Beneficial Ownership therein (the&#160;&#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;text-decoration: underline;">Common Stock</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">&#8221;).  Valaris plc is a debtor and debtor in possession in Case&#160;No.&#160;20-34114 (MI) pending in the United States Bankruptcy Court for the Southern District of Texas (the&#160;&#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;text-decoration: underline;">Court</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">&#8221;).</font></div><div style="width:150pt;margin-top:10pt;margin-bottom:5pt;border-bottom:1pt solid black;"></div><div style="text-indent:-18pt;padding-left:18pt;text-align:justify;margin-bottom:6pt;"><sup style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;vertical-align:top;">8</sup><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;"> &#160;A complete list of each of the Debtors in these chapter 11 cases may be obtained on the website of the Debtors&#8217; proposed claims and noticing agent at </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration: underline;">http&#58;&#47;&#47;cases.stretto.com&#47;Valaris</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">.&#160; The location of Debtor Ensco Incorporated&#8217;s principal place of business and the Debtors&#8217; service address in these chapter 11 cases is 5847 San Felipe Street, Suite 3300, Houston, Texas 77057.    </font></div><div style="text-indent:-18pt;padding-left:18pt;text-align:justify;margin-bottom:6pt;"><sup style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;vertical-align:top;">9</sup><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">&#160;For purposes of these Procedures&#58;&#160; (i)&#160;a &#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration: underline;">Substantial Shareholder</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">&#8221; is any entity or individual that has Beneficial Ownership of at least 8,974,359 shares of Common Stock (representing approximately 4.5 percent of all issued and outstanding shares of Common Stock)&#59; (ii)&#160;&#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration: underline;">Beneficial Ownership</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">&#8221; will be determined in accordance with the applicable rules of sections 382 and 383 of the Internal Revenue Code of 1986, 26 U.S.C. &#167;&#167; 1&#8211;9834 as amended (the &#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration: underline;">IRC</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">&#8221;), and the Treasury Regulations thereunder (other than Treasury Regulations section&#160;1.382&#30;2T(h)(2)(i)(A)), and includes direct, indirect, and constructive ownership (</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;">e.g.</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">, (1) a holding company would be considered to beneficially own all equity securities owned by its subsidiaries, (2) a partner in a partnership would be considered to beneficially own its proportionate share of any equity securities owned by such partnership, (3)&#160;an individual and such individual&#8217;s family members may be treated as one individual, (4)&#160;persons and entities acting in concert to make a coordinated acquisition of equity securities may be treated as a single entity, and (5)&#160;a holder would be considered to beneficially own equity securities that such holder has an Option to acquire).  An &#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration: underline;">Option</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">&#8221; to acquire stock includes all interests described in Treasury Regulations section&#160;1.382-4(d)(9), including any contingent purchase right, warrant, convertible debt, put, call, stock subject to risk of forfeiture, contract to acquire stock, or similar interest, regardless of whether it is contingent or otherwise not currently exercisable.</font></div><div style="position:relative;width:100%;height:72pt;"><div style="position:absolute;bottom:0;width:100%;"><div style="margin-top:6pt;"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%;"><div><font><br></font></div></div><div style="text-indent:36pt;text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:232%;">PLEASE TAKE FURTHER NOTICE</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;"> that, if applicable, on ___________ __, 2020, the undersigned party filed a Declaration of Status as a Substantial Shareholder with the Court and served copies thereof as set forth therein.</font></div><div style="text-indent:36pt;text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:232%;">PLEASE TAKE FURTHER NOTICE</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;"> that the undersigned party currently has Beneficial Ownership of _________ shares of Common Stock.</font></div><div style="text-indent:36pt;text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:232%;">PLEASE TAKE FURTHER NOTICE</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;"> that, pursuant to the Proposed Transfer, the undersigned party proposes to purchase, acquire, or otherwise accumulate Beneficial Ownership of _________ shares of Common Stock or an Option with respect to _________ shares of Common Stock.  If the Proposed Transfer is permitted to occur, the undersigned party will have Beneficial Ownership of _________ shares of Common Stock.</font></div><div style="text-indent:36pt;text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:232%;">PLEASE TAKE FURTHER NOTICE</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;"> that the last four digits of the taxpayer identification number of the undersigned party are ___________.</font></div><div style="text-indent:36pt;text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:232%;">PLEASE TAKE FURTHER NOTICE</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;"> that, pursuant to that certain </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:400;line-height:232%;">Interim</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;"> </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:400;line-height:232%;">Order (I)&#160;Approving Notification and Hearing Procedures for Certain Transfers of and Declarations of Worthlessness with Respect to Common Stock and (II) Granting Related Relief </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">&#91;Docket No.&#160;___&#93; (the&#160;&#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;text-decoration: underline;">Order</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">&#8221;), this declaration (this&#160;&#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;text-decoration: underline;">Declaration</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">&#8221;) is being filed with the Court and served upon the Debtors&#59; Kirkland &#38; Ellis LLP, proposed counsel to the Debtors&#59; and any other parties entitled to notice under the Order.</font></div><div style="text-indent:36pt;text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:232%;">PLEASE TAKE FURTHER NOTICE</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;"> that,</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:232%;"> </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">pursuant to the Order, the undersigned party acknowledges that it is prohibited from consummating the Proposed Transfer unless and until the undersigned party complies with the Procedures set forth therein.</font></div><div style="text-indent:36pt;text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:232%;">PLEASE TAKE FURTHER NOTICE</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;"> that the Debtors have 30 calendar days after receipt of this Declaration to object to the Proposed Transfer described herein.  If the Debtors file </font></div><div style="position:relative;width:100%;height:72pt;"><div style="position:absolute;bottom:0;width:100%;"><div style="text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">2</font></div><div style="margin-top:6pt;"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%;"><div><font><br></font></div></div><div style="text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">an objection, such Proposed Transfer will remain ineffective unless such objection is withdrawn by the Debtors or such transaction is approved by a final and non-appealable order of the Court.  If the Debtors do not object within such 30&#30;day period, then after expiration of such period the Proposed Transfer may proceed solely as set forth in this Declaration.</font></div><div style="text-indent:36pt;text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:232%;">PLEASE TAKE FURTHER NOTICE</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;"> that any further transactions contemplated by the undersigned party that may result in the undersigned party purchasing, acquiring, or otherwise accumulating Beneficial Ownership of additional shares of Common Stock will each require an additional notice filed with the Court to be served in the same manner as this Declaration.</font></div><div style="text-indent:36pt;text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:232%;">PLEASE TAKE FURTHER NOTICE</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;"> that, pursuant to 28 U.S.C. &#167; 1746, under penalties of perjury, the undersigned party hereby declares that he or she has examined this Declaration and accompanying attachments (if any), and, to the best of his or her knowledge and belief, this Declaration and any attachments hereto are true, correct, and complete.</font></div><div style="text-indent:36pt;text-align:justify;"><font><br></font></div><div style="padding-left:252pt;margin-bottom:12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">Respectfully submitted,</font></div><div style="padding-left:252pt;margin-bottom:12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">(Name of Declarant)</font></div><div style="margin-bottom:6pt;"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:46.153%;"><tr><td style="width:1.0%;"></td><td style="width:98.900%;"></td><td style="width:0.1%;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">By&#58;  ________________________________</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Name&#58;  _____________________________</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Address&#58;  ___________________________</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">___________________________________</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Telephone&#58;  _________________________</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Facsimile&#58;  __________________________</font></td></tr></table></div><div style="margin-bottom:12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">Dated&#58;&#160;_____________ __, 20__</font></div><div><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">_______________, __________</font></div><div style="margin-bottom:12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(City)&#160;&#160;(State)</font></div><div style="margin-bottom:12pt;"><font><br></font></div><div style="position:relative;width:100%;height:72pt;"><div style="position:absolute;bottom:0;width:100%;"><div style="text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">3</font></div><div style="margin-top:6pt;"><font><br></font></div></div></div><div id="i3aa661dd872e44dfacb149130de21008_22"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%;"><div><font><br></font></div></div><div style="text-align:center;margin-bottom:12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%;text-decoration: underline;">Exhibit 1C</font></div><div style="text-align:center;margin-bottom:12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%;">Declaration of Intent to Transfer Common Stock</font></div><div style="position:relative;width:100%;height:72pt;"><div style="position:absolute;bottom:0;width:100%;"><div style="margin-top:6pt;"><font><br></font></div></div></div><div id="i3aa661dd872e44dfacb149130de21008_25"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%;"><div><font><br></font></div></div><div style="text-align:center;margin-bottom:12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%;">UNITED STATES BANKRUPTCY COURT</font></div><div style="text-align:center;margin-bottom:0.12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%;">SOUTHERN DISTRICT OF TEXAS</font></div><div style="text-align:center;margin-bottom:0.12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%;">HOUSTON DIVISION</font></div><div style="margin-bottom:6pt;"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:98.076%;"><tr><td style="width:1.0%;"></td><td style="width:53.475%;"></td><td style="width:0.1%;"></td><td style="width:1.0%;"></td><td style="width:2.004%;"></td><td style="width:0.1%;"></td><td style="width:1.0%;"></td><td style="width:41.221%;"></td><td style="width:0.1%;"></td></tr><tr><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">)</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">In re&#58;</font></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">)</font></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Chapter 11</font></td></tr><tr><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">)</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><div><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">VALARIS PLC, </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:400;line-height:120%;">et al</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">.,</font><sup style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:7.8pt;font-weight:400;line-height:120%;vertical-align:top;">10</sup></div></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">)</font></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Case No. 20-34114 (MI)</font></td></tr><tr><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">)</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Debtors.</font></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">)</font></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">(Jointly Administered)</font></td></tr><tr><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">)</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td></tr><tr><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;border-bottom:1pt solid #000000;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">)</font></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:700;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Re&#58; Docket No. __</font></td></tr></table></div><div style="margin-bottom:6pt;"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:98.076%;"><tr><td style="width:1.0%;"></td><td style="width:98.900%;"></td><td style="width:0.1%;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;border-bottom:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><div style="text-align:center;margin-top:12pt;margin-bottom:0.12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;DECLARATION OF INTENT TO TRANSFER COMMON STOCK</font><sup style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:7.8pt;font-weight:700;line-height:120%;vertical-align:top;">11</sup></div></td></tr></table></div><div style="text-indent:36pt;text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:232%;">PLEASE TAKE NOTICE</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;"> that the undersigned party hereby provides notice of its intention to sell, trade, or otherwise transfer (the&#160;&#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;text-decoration: underline;">Proposed Transfer</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">&#8221;) one or more shares of common stock of Valaris plc or of any Beneficial Ownership therein (the&#160;&#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;text-decoration: underline;">Common Stock</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">&#8221;).  Valaris plc is a debtor and debtor in possession in Case No.&#160;20-34114 (MI) pending in the United States Bankruptcy Court for the Southern District of Texas (the &#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;text-decoration: underline;">Court</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">&#8221;).</font></div><div style="width:150pt;margin-top:10pt;margin-bottom:5pt;border-bottom:1pt solid black;"></div><div style="text-indent:-18pt;padding-left:18pt;text-align:justify;margin-bottom:6pt;"><sup style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;vertical-align:top;">10</sup><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;"> &#160;A complete list of each of the Debtors in these chapter 11 cases may be obtained on the website of the Debtors&#8217; proposed claims and noticing agent at </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration: underline;">http&#58;&#47;&#47;cases.stretto.com&#47;Valaris</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">.&#160; The location of Debtor Ensco Incorporated&#8217;s principal place of business and the Debtors&#8217; service address in these chapter 11 cases is 5847 San Felipe Street, Suite 3300, Houston, Texas 77057.    </font></div><div style="text-indent:-18pt;padding-left:18pt;text-align:justify;margin-bottom:6pt;"><sup style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;vertical-align:top;">11</sup><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">&#160;For purposes of these Procedures&#58;  (i) a &#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration: underline;">Substantial Shareholder</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">&#8221; is any entity or individual that has Beneficial Ownership of at least 8,974,359&#160;shares of Common Stock (representing approximately 4.5 percent of all issued and outstanding shares of Common Stock)&#59; (ii)&#160;&#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration: underline;">Beneficial Ownership</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">&#8221; will be determined in accordance with the applicable rules of sections 382 and 383 of the Internal Revenue Code of 1986, 26 U.S.C. &#167;&#167; 1&#8211;9834 as amended (the &#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration: underline;">IRC</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">&#8221;), and the Treasury Regulations thereunder (other than Treasury Regulations section&#160;1.382-2T(h)(2)(i)(A)), and includes direct, indirect, and constructive ownership (</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;">e.g.</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">, (1) a holding company would be considered to beneficially own all equity securities owned by its subsidiaries, (2) a partner in a partnership would be considered to beneficially own its proportionate share of any equity securities owned by such partnership, (3)&#160;an individual and such individual&#8217;s family members may be treated as one individual, (4)&#160;persons and entities acting in concert to make a coordinated acquisition of equity securities may be treated as a single entity, and (5)&#160;a holder would be considered to beneficially own equity securities that such holder has an Option to acquire).  An &#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration: underline;">Option</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">&#8221; to acquire stock includes all interests described in Treasury Regulations section&#160;1.382-4(d)(9), including any contingent purchase right, warrant, convertible debt, put, call, stock subject to risk of forfeiture, contract to acquire stock, or similar interest, regardless of whether it is contingent or otherwise not currently exercisable.</font></div><div style="position:relative;width:100%;height:72pt;"><div style="position:absolute;bottom:0;width:100%;"><div style="margin-top:6pt;"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%;"><div><font><br></font></div></div><div style="text-indent:36pt;text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:232%;">PLEASE TAKE FURTHER NOTICE</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;"> that, if applicable, on __________ __, 2020, the undersigned party filed a Declaration of Status as a Substantial Shareholder with the Court and served copies thereof as set forth therein.</font></div><div style="text-indent:36pt;text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:232%;">PLEASE TAKE FURTHER NOTICE</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;"> that the undersigned party currently has Beneficial Ownership of _________ shares of Common Stock.</font></div><div style="text-indent:36pt;text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:232%;">PLEASE TAKE FURTHER NOTICE</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;"> that, pursuant to the Proposed Transfer, the undersigned party proposes to sell, trade, or otherwise transfer Beneficial Ownership of _________ shares of Common Stock or an Option with respect to _________ shares of Common Stock.  If the Proposed Transfer is permitted to occur, the undersigned party will have Beneficial Ownership of _________ shares of Common Stock after such transfer becomes effective.</font></div><div style="text-indent:36pt;text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:232%;">PLEASE TAKE FURTHER NOTICE</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;"> that the last four digits of the taxpayer identification number of the undersigned party are _________.</font></div><div style="text-indent:36pt;text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:232%;">PLEASE TAKE FURTHER NOTICE</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;"> that, pursuant to that certain </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:400;line-height:232%;">Interim</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;"> </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:400;line-height:232%;">Order (I)&#160;Approving Notification and Hearing Procedures for Certain Transfers of and Declarations of Worthlessness with Respect to Common Stock and (II) Granting Related Relief </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">&#91;Docket No.&#160;___&#93; (the&#160;&#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;text-decoration: underline;">Order</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">&#8221;), this declaration (this&#160;&#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;text-decoration: underline;">Declaration</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">&#8221;) is being filed with the Court and served upon the Debtors&#59; Kirkland &#38; Ellis LLP, proposed counsel to the Debtors&#59; and any other parties entitled to notice under the Order.</font></div><div style="text-indent:36pt;text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:232%;">PLEASE TAKE FURTHER NOTICE</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;"> that,</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:232%;"> </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">pursuant to the Order, the undersigned party acknowledges that it is prohibited from consummating the Proposed Transfer unless and until the undersigned party complies with the Procedures set forth therein.</font></div><div style="text-indent:36pt;text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:232%;">PLEASE TAKE FURTHER NOTICE</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;"> that the Debtors have 30 calendar days after receipt of this Declaration to object to the Proposed Transfer described herein.  If the Debtors file </font></div><div style="position:relative;width:100%;height:72pt;"><div style="position:absolute;bottom:0;width:100%;"><div style="text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">2</font></div><div style="margin-top:6pt;"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%;"><div><font><br></font></div></div><div style="text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">an objection, such Proposed Transfer will remain ineffective unless such objection is withdrawn by the Debtors or such transaction is approved by a final and non-appealable order of the Court.  If the Debtors do not object within such 30-day period, then after expiration of such period the Proposed Transfer may proceed solely as set forth in this Declaration.</font></div><div style="text-indent:36pt;text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:232%;">PLEASE TAKE FURTHER NOTICE</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;"> that any further transactions contemplated by the undersigned party that may result in the undersigned party selling, trading, or otherwise transferring Beneficial Ownership of additional shares of Common Stock will each require an additional notice filed with the Court to be served in the same manner as this Declaration.</font></div><div style="text-indent:36pt;text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:232%;">PLEASE TAKE FURTHER NOTICE</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;"> that, pursuant to 28 U.S.C. &#167; 1746, under penalties of perjury, the undersigned party hereby declares that he or she has examined this Declaration and accompanying attachments (if any), and, to the best of his or her knowledge and belief, this Declaration and any attachments hereto are true, correct, and complete.</font></div><div style="text-align:center;"><font><br></font></div><div style="padding-left:252pt;margin-bottom:12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">Respectfully submitted,</font></div><div style="padding-left:252pt;margin-bottom:12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">(Name of Declarant)</font></div><div style="margin-bottom:6pt;"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:46.153%;"><tr><td style="width:1.0%;"></td><td style="width:98.900%;"></td><td style="width:0.1%;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">By&#58;  ________________________________</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Name&#58;  _____________________________</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Address&#58;  ___________________________</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">___________________________________</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Telephone&#58;  _________________________</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Facsimile&#58;  __________________________</font></td></tr></table></div><div style="margin-bottom:12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">Dated&#58;&#160;_____________ __, 20__</font></div><div><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">_______________, __________</font></div><div style="margin-bottom:12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(City)&#160;&#160;(State)</font></div><div style="position:relative;width:100%;height:72pt;"><div style="position:absolute;bottom:0;width:100%;"><div style="text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">3</font></div><div style="margin-top:6pt;"><font><br></font></div></div></div><div id="i3aa661dd872e44dfacb149130de21008_28"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%;"><div><font><br></font></div></div><div style="text-align:center;margin-bottom:12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%;text-decoration: underline;">Exhibit 1D</font></div><div style="text-align:center;margin-bottom:12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%;">Declaration of Status as a 50-Percent Shareholder</font></div><div><font><br></font></div><div style="position:relative;width:100%;height:72pt;"><div style="position:absolute;bottom:0;width:100%;"><div style="margin-top:6pt;"><font><br></font></div></div></div><div id="i3aa661dd872e44dfacb149130de21008_31"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%;"><div><font><br></font></div></div><div style="text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%;">UNITED STATES BANKRUPTCY COURT</font></div><div style="text-align:center;margin-bottom:0.12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%;">SOUTHERN DISTRICT OF TEXAS</font></div><div style="text-align:center;margin-bottom:12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%;">HOUSTON DIVISION</font></div><div style="margin-bottom:6pt;"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:98.076%;"><tr><td style="width:1.0%;"></td><td style="width:53.475%;"></td><td style="width:0.1%;"></td><td style="width:1.0%;"></td><td style="width:2.004%;"></td><td style="width:0.1%;"></td><td style="width:1.0%;"></td><td style="width:41.221%;"></td><td style="width:0.1%;"></td></tr><tr><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">)</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">In re&#58;</font></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">)</font></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Chapter 11</font></td></tr><tr><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">)</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><div><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">VALARIS PLC, </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:400;line-height:120%;">et al</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">.,</font><sup style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:7.8pt;font-weight:400;line-height:120%;vertical-align:top;">12</sup></div></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">)</font></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Case No. 20-34114 (MI)</font></td></tr><tr><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">)</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Debtors.</font></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">)</font></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">(Jointly Administered)</font></td></tr><tr><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">)</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td></tr><tr><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;border-bottom:1pt solid #000000;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">)</font></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:700;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Re&#58; Docket No. __</font></td></tr></table></div><div style="margin-bottom:6pt;"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:98.076%;"><tr><td style="width:1.0%;"></td><td style="width:98.900%;"></td><td style="width:0.1%;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:top;border-bottom:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:700;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">DECLARATION OF STATUS AS A 50-PERCENT SHAREHOLDER<sup style="font-size:7.8pt;vertical-align:top;">13</sup></font></td></tr></table></div><div style="text-indent:36pt;text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:232%;">PLEASE TAKE NOTICE</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;"> that the undersigned party is&#47;has become a 50-Percent Shareholder with respect to the common stock of Valaris plc or of any Beneficial Ownership therein (the &#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;text-decoration: underline;">Common Stock</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">&#8221;).  Valaris plc is a debtor and debtor in possession in Case&#160;No.&#160;20&#160;34114&#160;(MI) pending in the United States Bankruptcy Court for the Southern District of Texas (the&#160;&#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;text-decoration: underline;">Court</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">&#8221;).</font></div><div style="text-indent:36pt;text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:232%;">PLEASE TAKE FURTHER NOTICE</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;"> that, as of _________ __, 2020, the undersigned party currently has Beneficial Ownership of _________ shares of Common Stock.  The </font></div><div style="width:150pt;margin-top:10pt;margin-bottom:5pt;border-bottom:1pt solid black;"></div><div style="text-indent:-18pt;padding-left:18pt;text-align:justify;margin-bottom:6pt;"><sup style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;vertical-align:top;">12</sup><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;"> &#160;A complete list of each of the Debtors in these chapter 11 cases may be obtained on the website of the Debtors&#8217; proposed claims and noticing agent at </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration: underline;">http&#58;&#47;&#47;cases.stretto.com&#47;Valaris</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">.&#160; The location of Debtor Ensco Incorporated&#8217;s principal place of business and the Debtors&#8217; service address in these chapter 11 cases is 5847 San Felipe Street, Suite 3300, Houston, Texas 77057.    </font></div><div style="text-indent:-18pt;padding-left:18pt;text-align:justify;margin-bottom:6pt;"><sup style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;vertical-align:top;">13</sup><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;"> &#160;For purposes of this Declaration&#58;  (i) a &#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration: underline;">50-Percent Shareholder</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">&#8221; is any person or entity that at any time since December 31, 2016, has had 50 percent or more of the Common Stock (determined in accordance with IRC&#160;&#167;&#160;382(g)(4)(D) and the applicable Treasury Regulations)&#59; (ii) &#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration: underline;">Beneficial Ownership</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">&#8221; will be determined in accordance with the applicable rules of sections 382 and 383 of the Internal Revenue Code (the &#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration: underline;">IRC</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">&#8221;), and the Treasury Regulations thereunder (other than Treasury Regulations section 1.382-2T(h)(2)(i)(A)) and includes direct, indirect, and constructive ownership (e.g., (1) a holding company would be considered to beneficially own all equity securities owned by its subsidiaries, (2) a partner in a partnership would be considered to beneficially own its proportionate share of any equity securities owned by such partnership, (3) an individual and such individual&#8217;s family members may be treated as one individual, (4)&#160;persons and entities acting in concert to make a coordinated acquisition of equity securities may be treated as a single entity, and (5) a holder would be considered to beneficially own equity securities that such holder has an Option (as defined herein) to acquire)&#59; and (iii) an &#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration: underline;">Option</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">&#8221; to acquire stock includes all interests described in Treasury Regulations section 1.382&#30;4(d)(9), including any contingent purchase right, warrant, convertible debt, put, call, stock subject to risk of forfeiture, contract to acquire stock, or similar interest, regardless of whether it is contingent or otherwise not currently exercisable.</font></div><div style="position:relative;width:100%;height:72pt;"><div style="position:absolute;bottom:0;width:100%;"><div style="margin-top:6pt;"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%;"><div><font><br></font></div></div><div style="text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">following table sets forth the date(s) on which the undersigned party acquired Beneficial Ownership of such Common Stock&#58;</font></div><div style="margin-bottom:6pt;"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:98.076%;"><tr><td style="width:1.0%;"></td><td style="width:48.900%;"></td><td style="width:0.1%;"></td><td style="width:1.0%;"></td><td style="width:48.900%;"></td><td style="width:0.1%;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:middle;border-top:1pt solid #000000;border-left:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:700;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Number of Shares</font></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:middle;border-top:1pt solid #000000;border-left:1pt solid #000000;padding-left:1pt;border-right:1pt solid #000000;padding-right:1pt;"><font style="font-size:12pt;font-weight:700;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Date Acquired</font></td></tr><tr><td colspan="3" style="height:15pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;border-top:1pt solid #000000;border-left:1pt solid #000000;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="height:15pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;border-top:1pt solid #000000;border-left:1pt solid #000000;padding-left:1pt;border-right:1pt solid #000000;padding-right:1pt;"></td></tr><tr><td colspan="3" style="height:15pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;border-top:1pt solid #000000;border-left:1pt solid #000000;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="height:15pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;border-top:1pt solid #000000;border-left:1pt solid #000000;padding-left:1pt;border-right:1pt solid #000000;padding-right:1pt;"></td></tr><tr><td colspan="3" style="height:15pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;border-top:1pt solid #000000;border-left:1pt solid #000000;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="height:15pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;border-top:1pt solid #000000;border-left:1pt solid #000000;padding-left:1pt;border-right:1pt solid #000000;padding-right:1pt;"></td></tr><tr><td colspan="3" style="height:15pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;border-top:1pt solid #000000;border-left:1pt solid #000000;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="height:15pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;border-top:1pt solid #000000;border-left:1pt solid #000000;padding-left:1pt;border-right:1pt solid #000000;padding-right:1pt;"></td></tr><tr><td colspan="3" style="height:15pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;border-top:1pt solid #000000;border-bottom:1pt solid #000000;border-left:1pt solid #000000;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="height:15pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;border-top:1pt solid #000000;border-bottom:1pt solid #000000;border-left:1pt solid #000000;padding-left:1pt;border-right:1pt solid #000000;padding-right:1pt;"></td></tr></table></div><div style="text-indent:36pt;text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">(Attach additional page or pages if necessary)</font></div><div style="text-indent:36pt;text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:232%;">PLEASE TAKE FURTHER NOTICE</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;"> that the last four digits of the taxpayer identification number of the undersigned party are _________.</font></div><div style="text-indent:36pt;text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:232%;">PLEASE TAKE FURTHER NOTICE</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;"> that, pursuant to that certain </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:400;line-height:232%;">Interim</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;"> </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:400;line-height:232%;">Order (I)&#160;Approving Notification and Hearing Procedures for Certain Transfers of and Declarations of Worthlessness with Respect to Common Stock and (II)&#160;Granting Related Relief</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;"> &#91;Docket No.&#160;___&#93; (the &#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;text-decoration: underline;">Order</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">&#8221;), this declaration (this &#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;text-decoration: underline;">Declaration</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">&#8221;) is being filed with the Court and served upon the Debtors&#59; Kirkland &#38; Ellis LLP, proposed counsel to the Debtors&#59; and any other parties entitled to notice under the Order.</font></div><div style="text-indent:36pt;text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:232%;">PLEASE TAKE FURTHER NOTICE</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;"> that, pursuant to 28 U.S.C. &#167; 1746, under penalties of perjury, the undersigned party hereby declares that he or she has examined this Declaration and accompanying attachments (if any), and, to the best of his or her knowledge and belief, this Declaration and any attachments hereto are true, correct, and complete.</font></div><div style="position:relative;width:100%;height:72pt;"><div style="position:absolute;bottom:0;width:100%;"><div style="margin-bottom:6pt;"><table style="border-collapse:collapse;display:inline-table;vertical-align:text-bottom;width:98.076%;"><tr><td style="width:1.0%;"></td><td style="width:44.324%;"></td><td style="width:0.1%;"></td><td style="width:1.0%;"></td><td style="width:8.050%;"></td><td style="width:0.1%;"></td><td style="width:1.0%;"></td><td style="width:44.326%;"></td><td style="width:0.1%;"></td></tr><tr><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><div style="text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">6</font></div></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td></tr></table></div><div style="margin-top:6pt;"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%;"><div><font><br></font></div></div><div style="padding-left:252pt;margin-bottom:12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">Respectfully submitted,</font></div><div style="padding-left:252pt;margin-bottom:12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">(Name of 50-Percent Shareholder)</font></div><div style="margin-bottom:6pt;"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:46.153%;"><tr><td style="width:1.0%;"></td><td style="width:98.900%;"></td><td style="width:0.1%;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">By&#58;  ________________________________</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Name&#58;  _____________________________</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Address&#58;  ___________________________</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">___________________________________</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Telephone&#58;  _________________________</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Facsimile&#58;  __________________________</font></td></tr></table></div><div style="margin-bottom:12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">Dated&#58;&#160;_____________ __, 20__</font></div><div><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">_______________, __________</font></div><div style="margin-bottom:12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(City)&#160;&#160;(State)</font></div><div style="text-align:justify;margin-bottom:12pt;"><font><br></font></div><div style="position:relative;width:100%;height:72pt;"><div style="position:absolute;bottom:0;width:100%;"><div style="margin-bottom:6pt;"><table style="border-collapse:collapse;display:inline-table;vertical-align:text-bottom;width:98.076%;"><tr><td style="width:1.0%;"></td><td style="width:44.324%;"></td><td style="width:0.1%;"></td><td style="width:1.0%;"></td><td style="width:8.050%;"></td><td style="width:0.1%;"></td><td style="width:1.0%;"></td><td style="width:44.326%;"></td><td style="width:0.1%;"></td></tr><tr><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><div style="text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">7</font></div></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td></tr></table></div><div style="margin-top:6pt;"><font><br></font></div></div></div><div id="i3aa661dd872e44dfacb149130de21008_34"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%;"><div><font><br></font></div></div><div style="text-align:center;margin-bottom:12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%;text-decoration: underline;">Exhibit 1E</font></div><div style="text-align:center;margin-bottom:12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%;">Declaration of Intent to Claim a Worthless Stock Deduction</font></div><div><font><br></font></div><div style="position:relative;width:100%;height:72pt;"><div style="position:absolute;bottom:0;width:100%;"><div><font><br></font></div></div></div><div id="i3aa661dd872e44dfacb149130de21008_37"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%;"><div><font><br></font></div></div><div style="text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%;">UNITED STATES BANKRUPTCY COURT</font></div><div style="text-align:center;margin-bottom:0.12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%;">SOUTHERN DISTRICT OF TEXAS</font></div><div style="text-align:center;margin-bottom:12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%;">HOUSTON DIVISION</font></div><div style="margin-bottom:6pt;"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:98.076%;"><tr><td style="width:1.0%;"></td><td style="width:53.475%;"></td><td style="width:0.1%;"></td><td style="width:1.0%;"></td><td style="width:2.004%;"></td><td style="width:0.1%;"></td><td style="width:1.0%;"></td><td style="width:41.221%;"></td><td style="width:0.1%;"></td></tr><tr><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">)</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">In re&#58;</font></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">)</font></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Chapter 11</font></td></tr><tr><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">)</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><div><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">VALARIS PLC, </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:400;line-height:120%;">et al</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">.,</font><sup style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:7.8pt;font-weight:400;line-height:120%;vertical-align:top;">14</sup></div></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">)</font></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Case No. 20-34114 (MI)</font></td></tr><tr><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">)</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Debtors.</font></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">)</font></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">(Jointly Administered)</font></td></tr><tr><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">)</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td></tr><tr><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;border-bottom:1pt solid #000000;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">)</font></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:700;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Re&#58; Docket No. __</font></td></tr></table></div><div style="margin-bottom:6pt;"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:98.076%;"><tr><td style="width:1.0%;"></td><td style="width:98.900%;"></td><td style="width:0.1%;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:top;border-bottom:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:700;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">DECLARATION OF INTENT TO CLAIM A WORTHLESS STOCK DEDUCTION<sup style="font-size:7.8pt;vertical-align:top;">15</sup></font></td></tr></table></div><div style="text-indent:36pt;text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:232%;">PLEASE TAKE NOTICE</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;"> that the undersigned party hereby provides notice of its intention to claim a worthless stock deduction (the &#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;text-decoration: underline;">Proposed Worthlessness Claim</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">&#8221;) with respect to one or more shares of common stock of Valaris plc or of any Beneficial Ownership therein (the &#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;text-decoration: underline;">Common Stock</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">&#8221;).  Valaris plc is a debtor and debtor in possession in Case&#160;No.&#160;20-34114&#160;(MI) pending in the United States Bankruptcy Court for the Southern District of Texas (the &#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;text-decoration: underline;">Court</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">&#8221;).</font></div><div style="width:150pt;margin-top:10pt;margin-bottom:5pt;border-bottom:1pt solid black;"></div><div style="text-indent:-18pt;padding-left:18pt;text-align:justify;margin-bottom:6pt;"><sup style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;vertical-align:top;">14</sup><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;"> &#160;A complete list of each of the Debtors in these chapter 11 cases may be obtained on the website of the Debtors&#8217; proposed claims and noticing agent at </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration: underline;">http&#58;&#47;&#47;cases.stretto.com&#47;Valaris</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">.&#160; The location of Debtor Ensco Incorporated&#8217;s principal place of business and the Debtors&#8217; service address in these chapter 11 cases is 5847 San Felipe Street, Suite 3300, Houston, Texas 77057.    </font></div><div style="text-indent:-18pt;padding-left:18pt;text-align:justify;margin-bottom:6pt;"><sup style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;vertical-align:top;">15</sup><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;"> &#160;For purposes of this Declaration&#58;  (i) a &#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration: underline;">50-Percent Shareholder</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">&#8221; is any person or entity that at any time since December 31, 2016, has had 50 percent or more of the Common Stock (determined in accordance with IRC&#160;&#167;&#160;382(g)(4)(D) and the applicable Treasury Regulations)&#59; (ii) &#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration: underline;">Beneficial Ownership</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">&#8221; will be determined in accordance with the applicable rules of sections 382 and 383 of the Internal Revenue Code (the &#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration: underline;">IRC</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">&#8221;), and the Treasury Regulations thereunder (other than Treasury Regulations section 1.382-2T(h)(2)(i)(A)) and includes direct, indirect, and constructive ownership (e.g., (1) a holding company would be considered to beneficially own all equity securities owned by its subsidiaries, (2) a partner in a partnership would be considered to beneficially own its proportionate share of any equity securities owned by such partnership, (3) an individual and such individual&#8217;s family members may be treated as one individual, (4)&#160;persons and entities acting in concert to make a coordinated acquisition of equity securities may be treated as a single entity, and (5) a holder would be considered to beneficially own equity securities that such holder has an Option (as defined herein) to acquire)&#59; and (iii) an &#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration: underline;">Option</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">&#8221; to acquire stock includes all interests described in Treasury Regulations section 1.382&#30;4(d)(9), including any contingent purchase right, warrant, convertible debt, put, call, stock subject to risk of forfeiture, contract to acquire stock, or similar interest, regardless of whether it is contingent or otherwise not currently exercisable.</font></div><div style="position:relative;width:100%;height:72pt;"><div style="position:absolute;bottom:0;width:100%;"><div style="margin-top:6pt;"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%;"><div><font><br></font></div></div><div style="text-indent:36pt;text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:232%;">PLEASE TAKE FURTHER NOTICE</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;"> that on _________ __, 2020, the undersigned party filed a Declaration of Status as a 50-Percent Shareholder with the Court and served copies thereof as set forth therein.</font></div><div style="text-indent:36pt;text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:232%;">PLEASE TAKE FURTHER NOTICE</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;"> that the undersigned party currently has Beneficial Ownership of _________ shares of Common Stock. </font></div><div style="text-indent:36pt;text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:232%;">PLEASE TAKE FURTHER NOTICE</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;"> that, pursuant to the Proposed Worthlessness Claim, the undersigned party proposes to declare that ________ shares of Common Stock became worthless during the tax year ending __________.</font></div><div style="text-indent:36pt;text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:232%;">PLEASE TAKE FURTHER NOTICE</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;"> that the last four digits of the taxpayer identification number of the undersigned party are _________.</font></div><div style="text-indent:36pt;text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:232%;">PLEASE TAKE FURTHER NOTICE</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;"> that, pursuant to that certain </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:400;line-height:232%;">Interim</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;"> </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:400;line-height:232%;">Order (I)&#160;Approving Notification and Hearing Procedures for Certain Transfers of and Declarations of Worthlessness with Respect to Common Stock and (II)&#160;Granting Related Relief</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;"> &#91;Docket No.&#160;___&#93; (the&#160;&#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;text-decoration: underline;">Order</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">&#8221;), this declaration (this &#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;text-decoration: underline;">Declaration</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">&#8221;) is being filed with the Court and served upon the Debtors&#59; Kirkland &#38; Ellis LLP, proposed counsel to the Debtors&#59; and any other parties entitled to notice under the Order.</font></div><div style="text-indent:36pt;text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:232%;">PLEASE TAKE FURTHER NOTICE</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;"> that, pursuant to the Order, the undersigned party acknowledges that the Debtors have 30 calendar days after receipt of this Declaration to object to the Proposed Worthlessness Claim described herein.  If the Debtors file an objection, such Proposed Worthlessness Claim will not be effective unless such objection is withdrawn by the Debtors or such action is approved by a final and non-appealable order of the Bankruptcy Court.  If the Debtors do not object within such 30-day period, then after expiration of such period the Proposed Worthlessness Claim may proceed solely as set forth in this Declaration. </font></div><div style="position:relative;width:100%;height:72pt;"><div style="position:absolute;bottom:0;width:100%;"><div style="margin-bottom:6pt;"><table style="border-collapse:collapse;display:inline-table;vertical-align:text-bottom;width:98.076%;"><tr><td style="width:1.0%;"></td><td style="width:44.324%;"></td><td style="width:0.1%;"></td><td style="width:1.0%;"></td><td style="width:8.050%;"></td><td style="width:0.1%;"></td><td style="width:1.0%;"></td><td style="width:44.326%;"></td><td style="width:0.1%;"></td></tr><tr><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><div style="text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">10</font></div></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td></tr></table></div><div style="margin-top:6pt;"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%;"><div><font><br></font></div></div><div style="text-indent:36pt;text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:232%;">PLEASE TAKE FURTHER NOTICE</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;"> that any further claims of worthlessness contemplated by the undersigned party will each require an additional notice filed with the Court to be served in the same manner as this Declaration and are subject to an additional 30-day waiting period.</font></div><div style="text-indent:36pt;text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:232%;">PLEASE TAKE FURTHER NOTICE</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;"> that, pursuant to 28 U.S.C. &#167; 1746, under penalties of perjury, the undersigned party hereby declares that he or she has examined this Declaration and accompanying attachments (if any), and, to the best of his or her knowledge and belief, this Declaration and any attachments hereto are true, correct, and complete.</font></div><div><font><br></font></div><div style="padding-left:252pt;margin-bottom:12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">Respectfully submitted,</font></div><div style="padding-left:252pt;margin-bottom:12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">(Name of Declarant)</font></div><div style="margin-bottom:6pt;"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:46.153%;"><tr><td style="width:1.0%;"></td><td style="width:98.900%;"></td><td style="width:0.1%;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">By&#58;  ________________________________</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Name&#58;  _____________________________</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Address&#58;  ___________________________</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">___________________________________</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Telephone&#58;  _________________________</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Facsimile&#58;  __________________________</font></td></tr></table></div><div style="margin-bottom:12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">Dated&#58;&#160;_____________ __, 20__</font></div><div><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">_______________, __________</font></div><div style="text-align:justify;margin-bottom:12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(City)&#160;&#160;(State)</font></div><div style="position:relative;width:100%;height:72pt;"><div style="position:absolute;bottom:0;width:100%;"><div style="margin-bottom:6pt;"><table style="border-collapse:collapse;display:inline-table;vertical-align:text-bottom;width:98.076%;"><tr><td style="width:1.0%;"></td><td style="width:44.324%;"></td><td style="width:0.1%;"></td><td style="width:1.0%;"></td><td style="width:8.050%;"></td><td style="width:0.1%;"></td><td style="width:1.0%;"></td><td style="width:44.326%;"></td><td style="width:0.1%;"></td></tr><tr><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><div style="text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">11</font></div></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td></tr></table></div><div style="margin-top:6pt;"><font><br></font></div></div></div><div id="i3aa661dd872e44dfacb149130de21008_40"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%;"><div><font><br></font></div></div><div style="text-align:center;margin-bottom:12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%;text-decoration: underline;">Exhibit 1F</font></div><div style="text-align:center;margin-bottom:12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%;">Notice of Interim Order</font></div><div style="position:relative;width:100%;height:72pt;"><div style="position:absolute;bottom:0;width:100%;"><div><font><br></font></div></div></div><div id="i3aa661dd872e44dfacb149130de21008_43"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%;"><div><font><br></font></div></div><div style="text-align:center;margin-bottom:12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%;">UNITED STATES BANKRUPTCY COURT</font></div><div style="text-align:center;margin-bottom:0.12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%;">SOUTHERN DISTRICT OF TEXAS</font></div><div style="text-align:center;margin-bottom:0.12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%;">HOUSTON DIVISION</font></div><div style="margin-bottom:6pt;"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:98.076%;"><tr><td style="width:1.0%;"></td><td style="width:53.475%;"></td><td style="width:0.1%;"></td><td style="width:1.0%;"></td><td style="width:2.004%;"></td><td style="width:0.1%;"></td><td style="width:1.0%;"></td><td style="width:41.221%;"></td><td style="width:0.1%;"></td></tr><tr><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">)</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">In re&#58;</font></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">)</font></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Chapter 11</font></td></tr><tr><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">)</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><div><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">VALARIS PLC, </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:400;line-height:120%;">et al</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">.,</font><sup style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:7.8pt;font-weight:400;line-height:120%;vertical-align:top;">16</sup></div></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">)</font></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Case No. 20-34114 (MI)</font></td></tr><tr><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">)</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Debtors.</font></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">)</font></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">(Jointly Administered)</font></td></tr><tr><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">)</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td></tr><tr><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;border-bottom:1pt solid #000000;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">)</font></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:700;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Re&#58; Docket No. __</font></td></tr></table></div><div style="text-align:justify;margin-bottom:6pt;"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:98.076%;"><tr><td style="width:1.0%;"></td><td style="width:98.900%;"></td><td style="width:0.1%;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:top;border-bottom:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><font style="font-size:12pt;font-weight:700;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">&#160;&#160;&#160;&#160;&#160;&#160;NOTICE OF DISCLOSURE PROCEDURES<br>    APPLICABLE TO CERTAIN HOLDERS OF COMMON <br> STOCK, DISCLOSURE PROCEDURES FOR TRANSFERS OF<br>AND DECLARATIONS OF WORTHLESSNESS WITH RESPECT TO<br>COMMON STOCK, AND FINAL HEARING ON THE APPLICATION THEREOF</font></td></tr></table></div><div style="text-align:justify;margin-bottom:12pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%;">TO&#58;  ALL ENTITIES (AS DEFINED BY SECTION 101(15) OF THE BANKRUPTCY CODE) THAT MAY HOLD BENEFICIAL OWNERSHIP OF COMMON STOCK OF WHITING PETROLEUM CORPORATION (THE &#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%;text-decoration: underline;">COMMON STOCK</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%;">&#8221;)&#58;</font></div><div style="text-indent:36pt;text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:232%;">PLEASE TAKE NOTICE </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">that on August 19, 2020 (the&#160;&#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;text-decoration: underline;">Petition Date</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">&#8221;), the above-captioned debtors and debtors in possession (collectively, the&#160;&#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;text-decoration: underline;">Debtors</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">&#8221;), filed petitions with the United&#160;States Bankruptcy Court for the Southern District of Texas (the&#160;&#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;text-decoration: underline;">Court</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">&#8221;) under chapter&#160;11 of title 11 of the United States Code (the &#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;text-decoration: underline;">Bankruptcy Code</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">&#8221;).  Subject to certain exceptions, section 362 of the Bankruptcy Code operates as a stay of any act to obtain possession of property of or from the Debtors&#8217; estates or to exercise control over property of or from the Debtors&#8217; estates.</font></div><div style="text-indent:36pt;text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:232%;">PLEASE TAKE FURTHER NOTICE </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">that on the Petition Date, the Debtors filed the </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:400;line-height:232%;">Debtors&#8217; Emergency Motion for Entry of Interim and Final Orders (I) Approving Notification </font></div><div style="width:150pt;margin-top:10pt;margin-bottom:5pt;border-bottom:1pt solid black;"></div><div style="text-indent:-18pt;padding-left:18pt;text-align:justify;margin-bottom:6pt;"><sup style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;vertical-align:top;">16</sup><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;"> &#160;A complete list of each of the Debtors in these chapter 11 cases may be obtained on the website of the Debtors&#8217; proposed claims and noticing agent at </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration: underline;">http&#58;&#47;&#47;cases.stretto.com&#47;Valaris</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">.&#160; The location of Debtor Ensco Incorporated&#8217;s principal place of business and the Debtors&#8217; service address in these chapter 11 cases is 5847 San Felipe Street, Suite 3300, Houston, Texas 77057.   </font></div><div style="position:relative;width:100%;height:72pt;"><div style="position:absolute;bottom:0;width:100%;"><div style="margin-top:6pt;"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%;"><div><font><br></font></div></div><div style="text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:400;line-height:232%;">and Hearing Procedures for Certain Transfers of and Declarations of Worthlessness with Respect to Common Stock and (II) Granting Related Relief </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">&#91;Docket&#160;No.&#160;__&#93; (the &#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;text-decoration: underline;">Motion</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">&#8221;).</font></div><div style="text-indent:36pt;text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:232%;">PLEASE TAKE FURTHER NOTICE </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">that on &#91;______&#93;, 2020, the Court entered the </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:400;line-height:232%;">Interim Order (I) Approving Notification and Hearing Procedures for Certain Transfers of and Declarations of Worthlessness with Respect to Common Stock and (II) Granting Related Relief </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">&#91;Docket No. __&#93; (the&#160;&#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;text-decoration: underline;">Order</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">&#8221;) approving procedures for certain transfers of and declarations of worthlessness with respect to Common Stock, set forth in </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:232%;text-decoration: underline;">Exhibit 1</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;"> attached to the Order (the&#160;&#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;text-decoration: underline;">Procedures</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">&#8221;).</font><sup style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:7.8pt;font-weight:400;line-height:232%;vertical-align:top;">17</sup></div><div style="text-indent:36pt;text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:232%;">PLEASE TAKE FURTHER NOTICE </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">that,</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:232%;"> </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">pursuant to the Order, a Substantial Shareholder or person that may become a Substantial Shareholder may not consummate any purchase, sale, or other transfer of Common Stock or Beneficial Ownership of Common Stock in violation of the Procedures, and any such transaction in violation of the Procedures shall be null and void </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:400;line-height:232%;">ab initio</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">. </font></div><div style="text-indent:36pt;text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:232%;">PLEASE TAKE FURTHER NOTICE </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">that, pursuant to the Order, the Procedures shall apply to the holding and transfers of Common Stock or any Beneficial Ownership therein by a Substantial Shareholder or someone who may become a Substantial Shareholder.</font></div><div style="text-indent:36pt;text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:232%;">PLEASE TAKE FURTHER NOTICE </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">that pursuant to the Order, a 50-Percent Shareholder may not claim a worthless stock deduction with respect to Common Stock, or Beneficial Ownership of Common Stock, in violation of the Procedures, and any such deduction in violation of the Procedures shall be null and void </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:400;line-height:232%;">ab initio</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">, and the 50-Percent Shareholder shall be required to file an amended tax return revoking such proposed deduction.</font></div><div style="width:150pt;margin-top:10pt;margin-bottom:5pt;border-bottom:1pt solid black;"></div><div style="text-indent:-18pt;padding-left:18pt;text-align:justify;margin-bottom:6pt;"><sup style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;vertical-align:top;">17</sup><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">&#160;Capitalized terms used but not otherwise defined herein have the meanings ascribed to them in the Order or the Motion, as applicable.</font></div><div style="position:relative;width:100%;height:72pt;"><div style="position:absolute;bottom:0;width:100%;"><div style="text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">2</font></div><div style="margin-top:6pt;"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%;"><div><font><br></font></div></div><div style="text-indent:36pt;text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:232%;">PLEASE TAKE FURTHER NOTICE </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">that upon the request of any entity, the proposed notice, claims, and solicitation agent for the Debtors, Stretto, will provide a copy of the Order and a form of each of the declarations required to be filed by the Procedures in a reasonable period of time.  Such declarations are also available via PACER on the Court&#8217;s website at </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;text-decoration: underline;">https&#58;&#47;&#47;ecf.txsb.uscourts.gov</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;"> for a fee, or free of charge by accessing the Debtors&#8217; restructuring website at http&#58;&#47;&#47;www.stretto.com&#47;valaris.</font></div><div style="text-indent:36pt;text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:232%;">PLEASE TAKE FURTHER NOTICE</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;"> that the final hearing (the&#160;&#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;text-decoration: underline;">Final Hearing</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">&#8221;) on the Motion shall be held on _________, 2020, at__&#58;__ _.m., prevailing Central Time.&#160; Any objections or responses to entry of a final order on the Motion shall be filed on or before 4&#58;00&#160;p.m., prevailing Central Time, on _________, 2020, and shall be served on the Notice Parties.&#160; In the event no objections to entry of a final order on the Motion are timely received, this Court may enter such final order without need for the Final Hearing.</font></div><div style="text-indent:36pt;text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:232%;">PLEASE TAKE FURTHER NOTICE </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">that failure to follow the Procedures set forth in the Order shall constitute a violation of, among other things, the automatic stay provisions of Section&#160;362 of the Bankruptcy Code</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:232%;">.</font></div><div style="text-indent:36pt;text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:232%;">PLEASE TAKE FURTHER NOTICE </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">that any prohibited purchase, sale, other transfer of, or declaration of worthlessness with respect to Common Stock, Beneficial Ownership thereof, or Option with respect thereto in violation of the Order is prohibited and shall be null and void </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:400;line-height:232%;">ab&#160;initio</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;"> and may be subject to additional sanctions as this Court may determine</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:232%;">.</font></div><div style="text-indent:36pt;text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:232%;">PLEASE TAKE FURTHER NOTICE </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%;">that the requirements set forth in the Order are in addition to the requirements of applicable law and do not excuse compliance therewith.</font></div><div style="text-indent:-36pt;padding-left:36pt;text-align:center;margin-bottom:12pt;"><font><br></font></div><div style="text-align:center;"><font><br></font></div><div style="position:relative;width:100%;height:72pt;"><div style="position:absolute;bottom:0;width:100%;"><div style="text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;">3</font></div><div style="margin-top:6pt;"><font><br></font></div></div></div><div id="i3aa661dd872e44dfacb149130de21008_46"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%;"><div><font><br></font></div></div><div style="margin-bottom:6pt;"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:97.916%;"><tr><td style="width:1.0%;"></td><td style="width:47.999%;"></td><td style="width:0.1%;"></td><td style="width:0.1%;"></td><td style="width:2.418%;"></td><td style="width:0.1%;"></td><td style="width:1.0%;"></td><td style="width:47.183%;"></td><td style="width:0.1%;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:11pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Houston, Texas</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:11pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">&#91;&#9679;&#93;, 2020</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td></tr><tr><td colspan="3" style="height:15pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="height:15pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="height:15pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:11pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">&#47;s&#47;</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><font style="font-size:11pt;font-weight:700;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">JACKSON WALKER L.L.P</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:11pt;font-weight:700;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">KIRKLAND &#38; ELLIS LLP</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:11pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Matthew D. Cavenaugh (TX Bar No. 24062656)</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:11pt;font-weight:700;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">KIRKLAND &#38; ELLIS INTERNATIONAL LLP</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:11pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Kristhy M. Peguero (TX Bar No. 24102776)</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:middle;padding-left:1pt;padding-right:1pt;"><div><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;">Anup Sathy, P.C. (</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%;">pro hac</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;"> vice pending)</font></div></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:11pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Genevieve Graham (TX Bar No. 24085340)</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:middle;padding-left:1pt;padding-right:1pt;"><div><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;">Ross M. Kwasteniet, P.C. (</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%;">pro hac</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;"> vice pending)</font></div></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:11pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">1401 McKinney Street, Suite 1900</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:middle;padding-left:1pt;padding-right:1pt;"><div><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;">Spencer A. Winters (</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%;">pro hac</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;"> vice pending)</font></div></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:11pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Houston, Texas 77010</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:11pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">300 North LaSalle Street</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:11pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Telephone&#58;  &#160;(713) 752-4200</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:11pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Chicago, Illinois 60654</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:11pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Facsimile&#58;   &#160;(713) 752-4221</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:11pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Telephone&#58;  &#160;(312) 862-2000</font></td></tr><tr><td colspan="3" 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<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd"><html><head>
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<title>Document</title></head><body><div id="idd8164b533c44520a40f5b8d25cd8c06_1"></div><div style="min-height:72pt;width:100%;"><div><font style="background-color:rgb(255,255,255, 0.0);color:#21303b;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%;">110 Cannon Street</font></div><div style="margin-bottom:0.1pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#21303b;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%;">London, England EC4N 6EU</font></div><div style="margin-bottom:0.1pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#21303b;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%;">www.valaris.com</font></div><div style="margin-bottom:0.1pt;"><img alt="image01.jpg" src="image01.jpg" style="height:76px;width:71px;"></div></div><div style="text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%;">Valaris plc Receives NYSE Notice of Immediate Suspension of Trading and </font></div><div style="text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%;">Delisting of Valaris Common Stock</font></div><div><font><br></font></div><div><font><br></font></div><div style="text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%;">LONDON, August 25, 2020 &#8230; Valaris plc (NYSE&#58; VAL) (&#8220;Valaris&#8221; or the &#8220;Company&#8221;) announced today that on August 19, 2020 it was notified by the New York Stock Exchange (&#8220;NYSE&#8221;) of its determination to indefinitely suspend trading of the Company&#8217;s common stock and to commence proceedings to delist the Company&#8217;s common stock from the NYSE. This suspension and delisting by the NYSE is in accordance with Section 802.01D of the NYSE Listed Company Manual due to the Company&#8217;s voluntary filing for reorganization under Chapter 11 of the Bankruptcy Code on August 19, 2020.</font></div><div style="text-align:justify;"><font><br></font></div><div style="text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:115%;">Effective August 19, 2020, the Company&#8217;s common stock commenced trading on the OTC Pink marketplace under the symbol &#8220;VALPQ.&#8221;</font></div><div><font><br></font></div><div><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%;">About Valaris</font></div><div><font><br></font></div><div style="text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%;">Valaris plc (NYSE&#58; VAL) 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. With an unwavering commitment to safety and operational excellence, and a focus on technology and innovation, Valaris was rated first in total customer satisfaction in the latest independent survey by EnergyPoint Research - the ninth consecutive year that the Company has earned this distinction. Valaris plc is an English limited company (England No. 7023598) with its corporate headquarters located at 110 Cannon Street, London EC4N 6EU. To learn more, visit our website at </font><font style="background-color:rgb(255,255,255, 0.0);color:#0563c1;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration: underline;">www.valaris.com</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%;">. </font></div><div><font><br></font></div><div style="margin-bottom:10pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:133%;">Media Contact&#58;</font></div><div><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:133%;">Dana Gorman &#47; Sydney Isaacs</font></div><div><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:133%;">Abernathy MacGregor</font></div><div><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:133%;">+1 212-371-5999</font></div><div style="margin-bottom:10pt;"><font><br></font></div><div style="margin-bottom:10pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:133%;">Investor Contact&#58;</font></div><div><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:133%;">Darin Gibbins</font></div><div><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:133%;">Vice President &#8211; Investor Relations and Treasurer </font></div><div><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:133%;">+1 713-979-4623</font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div style="position:relative;width:100%;height:72pt;"><div style="position:absolute;bottom:0;width:100%;"><div><font><br></font></div></div></div></body></html>
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  </link:definitionLink>
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</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.LAB
<SEQUENCE>7
<FILENAME>val-20200819_lab.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION LABEL LINKBASE DOCUMENT
<TEXT>
<XBRL>
<?xml version="1.0" encoding="UTF-8"?>

<!--XBRL Document Created with Wdesk from Workiva-->
<!--Copyright 2020 Workiva-->
<!--r:2b8a7aa6-adea-4f4e-a3ad-cd91dff2755e,g:a31e1b4c-d83c-40e4-a4a4-8579f1c9a4f3-->
<link:linkbase xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedPeriodStartLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodStartLabel"/>
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/netLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/net-2009-12-16.xsd#netLabel"/>
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  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedLabel"/>
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTotalLabel"/>
  <link:labelLink xlink:role="http://www.xbrl.org/2003/role/link" xlink:type="extended">
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityIncorporationStateCountryCode" xlink:to="lab_dei_EntityIncorporationStateCountryCode" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityAddressCityOrTown_0ed2404d-9732-459a-8944-c15c510aeb66_terseLabel_en-US" xlink:label="lab_dei_EntityAddressCityOrTown" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Entity Address, City or Town</link:label>
    <link:label id="lab_dei_EntityAddressCityOrTown_label_en-US" xlink:label="lab_dei_EntityAddressCityOrTown" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Entity Address, City or Town</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityAddressCityOrTown" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityAddressCityOrTown"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityAddressCityOrTown" xlink:to="lab_dei_EntityAddressCityOrTown" xlink:type="arc" order="1"/>
    <link:label id="lab_val_FourPointFiveZeroPercentSeniorNotesDueTwoThousandTwentyFourMember_44ca54e6-c0e6-4d11-99a7-c7697293ab72_terseLabel_en-US" xlink:label="lab_val_FourPointFiveZeroPercentSeniorNotesDueTwoThousandTwentyFourMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Four Point Five Zero Percent Senior Notes Due Two Thousand Twenty Four [Member]</link:label>
    <link:label id="lab_val_FourPointFiveZeroPercentSeniorNotesDueTwoThousandTwentyFourMember_label_en-US" xlink:label="lab_val_FourPointFiveZeroPercentSeniorNotesDueTwoThousandTwentyFourMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Four Point Five Zero Percent Senior Notes Due Two Thousand Twenty Four [Member]</link:label>
    <link:label id="lab_val_FourPointFiveZeroPercentSeniorNotesDueTwoThousandTwentyFourMember_documentation_en-US" xlink:label="lab_val_FourPointFiveZeroPercentSeniorNotesDueTwoThousandTwentyFourMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Four Point Five Zero Percent Senior Notes Due Two Thousand Twenty Four [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_val_FourPointFiveZeroPercentSeniorNotesDueTwoThousandTwentyFourMember" xlink:href="val-20200819.xsd#val_FourPointFiveZeroPercentSeniorNotesDueTwoThousandTwentyFourMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_val_FourPointFiveZeroPercentSeniorNotesDueTwoThousandTwentyFourMember" xlink:to="lab_val_FourPointFiveZeroPercentSeniorNotesDueTwoThousandTwentyFourMember" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntitiesTable_0b485cad-7230-4ddc-b1b2-31643d6e9702_terseLabel_en-US" xlink:label="lab_dei_EntitiesTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Entities [Table]</link:label>
    <link:label id="lab_dei_EntitiesTable_label_en-US" xlink:label="lab_dei_EntitiesTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Entities [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntitiesTable" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntitiesTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntitiesTable" xlink:to="lab_dei_EntitiesTable" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_SolicitingMaterial_8c4eade8-e7b6-4148-8cd1-5873bdaf4c6c_terseLabel_en-US" xlink:label="lab_dei_SolicitingMaterial" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Soliciting Material</link:label>
    <link:label id="lab_dei_SolicitingMaterial_label_en-US" xlink:label="lab_dei_SolicitingMaterial" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Soliciting Material</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_SolicitingMaterial" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_SolicitingMaterial"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_SolicitingMaterial" xlink:to="lab_dei_SolicitingMaterial" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityAddressAddressLine1_7afc96fa-d44a-4ad7-9c6a-3d39f9c128b4_terseLabel_en-US" xlink:label="lab_dei_EntityAddressAddressLine1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Entity Address, Address Line One</link:label>
    <link:label id="lab_dei_EntityAddressAddressLine1_label_en-US" xlink:label="lab_dei_EntityAddressAddressLine1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Entity Address, Address Line One</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityAddressAddressLine1" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityAddressAddressLine1"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityAddressAddressLine1" xlink:to="lab_dei_EntityAddressAddressLine1" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_SecurityExchangeName_b6cc232e-3e85-430a-9078-fbe412ca9231_terseLabel_en-US" xlink:label="lab_dei_SecurityExchangeName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Security Exchange Name</link:label>
    <link:label id="lab_dei_SecurityExchangeName_label_en-US" xlink:label="lab_dei_SecurityExchangeName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Security Exchange Name</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_SecurityExchangeName" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_SecurityExchangeName"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_SecurityExchangeName" xlink:to="lab_dei_SecurityExchangeName" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_CityAreaCode_88f94939-e4fa-4ee1-8dab-f6f6bbd673e7_terseLabel_en-US" xlink:label="lab_dei_CityAreaCode" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">City Area Code</link:label>
    <link:label id="lab_dei_CityAreaCode_label_en-US" xlink:label="lab_dei_CityAreaCode" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">City Area Code</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_CityAreaCode" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_CityAreaCode"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_CityAreaCode" xlink:to="lab_dei_CityAreaCode" xlink:type="arc" order="1"/>
    <link:label id="lab_val_FourPointSevenZeroPercentSeniorNotesDueTwoThousandTwentyOneMember_a32092b5-0164-4106-9dea-595fb271edee_terseLabel_en-US" xlink:label="lab_val_FourPointSevenZeroPercentSeniorNotesDueTwoThousandTwentyOneMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Four Point Seven Zero Percent Senior Notes Due Two Thousand Twenty One Member</link:label>
    <link:label id="lab_val_FourPointSevenZeroPercentSeniorNotesDueTwoThousandTwentyOneMember_label_en-US" xlink:label="lab_val_FourPointSevenZeroPercentSeniorNotesDueTwoThousandTwentyOneMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Four Point Seven Zero Percent Senior Notes Due Two Thousand Twenty One Member</link:label>
    <link:label id="lab_val_FourPointSevenZeroPercentSeniorNotesDueTwoThousandTwentyOneMember_documentation_en-US" xlink:label="lab_val_FourPointSevenZeroPercentSeniorNotesDueTwoThousandTwentyOneMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Four Point Seven Zero Percent Senior Notes Due Two Thousand Twenty One [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_val_FourPointSevenZeroPercentSeniorNotesDueTwoThousandTwentyOneMember" xlink:href="val-20200819.xsd#val_FourPointSevenZeroPercentSeniorNotesDueTwoThousandTwentyOneMember"/>
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      id="id3VybDovL2RvY3MudjEvZG9jOjVjYzQwYWY2MzljOTQ5N2M5M2UzNWE0YzBmYzQ2MTliL3NlYzo1Y2M0MGFmNjM5Yzk0OTdjOTNlMzVhNGMwZmM0NjE5Yl8xL2ZyYWc6MzAzOWNmMmQ5MmU5NDY5YmJhNGFhMzlkNTFkNGQwNTMvdGFibGU6NjljOTA3ZjE4ZmJkNDM4ZmIwMjZjZTZlMjdkZGE0NTEvdGFibGVyYW5nZTo2OWM5MDdmMThmYmQ0MzhmYjAyNmNlNmUyN2RkYTQ1MV8xMC0zLTEtMS0w_956428f5-133d-45a5-bd16-966056ec55e7">NYSE</dei:SecurityExchangeName>
    <dei:Security12bTitle
      contextRef="i638c4cb28a21402cbe4ea2e858353ea1_D20200819-20200819"
      id="id3VybDovL2RvY3MudjEvZG9jOjVjYzQwYWY2MzljOTQ5N2M5M2UzNWE0YzBmYzQ2MTliL3NlYzo1Y2M0MGFmNjM5Yzk0OTdjOTNlMzVhNGMwZmM0NjE5Yl8xL2ZyYWc6MzAzOWNmMmQ5MmU5NDY5YmJhNGFhMzlkNTFkNGQwNTMvdGFibGU6NjljOTA3ZjE4ZmJkNDM4ZmIwMjZjZTZlMjdkZGE0NTEvdGFibGVyYW5nZTo2OWM5MDdmMThmYmQ0MzhmYjAyNmNlNmUyN2RkYTQ1MV8xMS0wLTEtMS0w_e2a782f4-d423-4f9e-8f3b-9a1fc56966fc">5.75% Senior Notes due 2044</dei:Security12bTitle>
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      id="id3VybDovL2RvY3MudjEvZG9jOjVjYzQwYWY2MzljOTQ5N2M5M2UzNWE0YzBmYzQ2MTliL3NlYzo1Y2M0MGFmNjM5Yzk0OTdjOTNlMzVhNGMwZmM0NjE5Yl8xL2ZyYWc6MzAzOWNmMmQ5MmU5NDY5YmJhNGFhMzlkNTFkNGQwNTMvdGFibGU6NjljOTA3ZjE4ZmJkNDM4ZmIwMjZjZTZlMjdkZGE0NTEvdGFibGVyYW5nZTo2OWM5MDdmMThmYmQ0MzhmYjAyNmNlNmUyN2RkYTQ1MV8xMS0zLTEtMS0w_279a87f7-25ff-4368-be34-2a84ea1f4c9e">NYSE</dei:SecurityExchangeName>
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      id="id3VybDovL2RvY3MudjEvZG9jOjVjYzQwYWY2MzljOTQ5N2M5M2UzNWE0YzBmYzQ2MTliL3NlYzo1Y2M0MGFmNjM5Yzk0OTdjOTNlMzVhNGMwZmM0NjE5Yl8xL2ZyYWc6MzAzOWNmMmQ5MmU5NDY5YmJhNGFhMzlkNTFkNGQwNTMvdGFibGU6NjljOTA3ZjE4ZmJkNDM4ZmIwMjZjZTZlMjdkZGE0NTEvdGFibGVyYW5nZTo2OWM5MDdmMThmYmQ0MzhmYjAyNmNlNmUyN2RkYTQ1MV8xMi0wLTEtMS0w_9d20f16a-da69-472a-9cd7-b121a946c0a9">5.85% Senior Note due 2044</dei:Security12bTitle>
    <dei:TradingSymbol
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<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm139795430664824">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Document and Entity Information Document<br></strong></div></th>
<th class="th"><div>Aug. 19, 2020</div></th>
<th class="th"><div>Apr. 15, 2020</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityInformationLineItems', window );"><strong>Entity Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
<td class="text">8-K<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
<td class="text">Aug. 19,  2020<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">Valaris plc<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityIncorporationStateCountryCode', window );">Entity Incorporation, State or Country Code</a></td>
<td class="text">X0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityFileNumber', window );">Entity File Number</a></td>
<td class="text">1-8097<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityTaxIdentificationNumber', window );">Entity Tax Identification Number</a></td>
<td class="text">98-0635229<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressAddressLine1', window );">Entity Address, Address Line One</a></td>
<td class="text">110 Cannon Street<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressCityOrTown', window );">Entity Address, City or Town</a></td>
<td class="text">London<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressCountry', window );">Entity Address, State or Province</a></td>
<td class="text">GB<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressPostalZipCode', window );">Entity Address, Postal Zip Code</a></td>
<td class="text">EC4N6EU<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_CityAreaCode', window );">City Area Code</a></td>
<td class="text">44 (0)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LocalPhoneNumber', window );">Local Phone Number</a></td>
<td class="text">20 7659 4660<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_WrittenCommunications', window );">Written Communications</a></td>
<td class="text">false<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_SolicitingMaterial', window );">Soliciting Material</a></td>
<td class="text">false<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_PreCommencementTenderOffer', window );">Pre-commencement Tender Offer</a></td>
<td class="text">false<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_PreCommencementIssuerTenderOffer', window );">Pre-commencement Issuer Tender Offer</a></td>
<td class="text">false<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityEmergingGrowthCompany', window );">Entity Emerging Growth Company</a></td>
<td class="text">false<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">0000314808<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementClassOfStockAxis=val_ClassAOrdinarySharesUS0.40ParValueMember', window );">Class A Ordinary Shares, US 0.40 Par Value [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityInformationLineItems', window );"><strong>Entity Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">Class A ordinary shares, U.S. $0.40 par value<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">VAL*<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementClassOfStockAxis=val_FourPointSevenZeroPercentSeniorNotesDueTwoThousandTwentyOneMember', window );">Four Point Seven Zero Percent Senior Notes Due Two Thousand Twenty One Member</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityInformationLineItems', window );"><strong>Entity Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">4.70% Senior Notes due 2021<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">VAL21*<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementClassOfStockAxis=val_A4.875SeniorNotesDue2022MemberMember', window );">4.875%SeniorNotesDue2022Member [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityInformationLineItems', window );"><strong>Entity Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">4.875% Senior Note due 2022<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">VAL/22*<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementClassOfStockAxis=val_FourPointFiveZeroPercentSeniorNotesDueTwoThousandTwentyFourMember', window );">Four Point Five Zero Percent Senior Notes Due Two Thousand Twenty Four [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityInformationLineItems', window );"><strong>Entity Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">4.50% Senior Notes due 2024<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">VAL24*<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementClassOfStockAxis=val_A4.75SeniorNotesDue2024MemberMember', window );">4.75%SeniorNotesDue2024Member [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityInformationLineItems', window );"><strong>Entity Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">4.75% Senior Note due 2024<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">VAL/24*<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementClassOfStockAxis=val_EightPointZeroPercentSeniorNotesDueTwoThousandTwentyFourMember', window );">Eight Point Zero Percent Senior Notes Due Two Thousand Twenty Four [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityInformationLineItems', window );"><strong>Entity Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">8.00% Senior Notes due 2024<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">VAL24A*<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementClassOfStockAxis=val_FivePointTwoPercentSeniorNotesMember', window );">Five Point Two Percent Senior Notes [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityInformationLineItems', window );"><strong>Entity Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">5.20% Senior Notes due 2025<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">VAL25A*<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementClassOfStockAxis=val_A7.38SeniorNotesDue2025Member', window );">7.38%SeniorNotesDue2025 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityInformationLineItems', window );"><strong>Entity Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">7.375% Senior Note due 2025<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">VAL/25*<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementClassOfStockAxis=val_SevenPointSevenFivePercentSeniorNotesDueTwoThousandTwentySixMember', window );">Seven Point Seven Five Percent Senior Notes Due Two Thousand Twenty Six [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityInformationLineItems', window );"><strong>Entity Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">7.75% Senior Notes due 2026<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">VAL26*<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementClassOfStockAxis=val_A5.40SeniorNotesDue2042Member', window );">5.40%SeniorNotesDue2042 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityInformationLineItems', window );"><strong>Entity Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">5.4% Senior Note due 2042<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">VAL/42*<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementClassOfStockAxis=val_FivePointSevenFivePercentSeniorNotesMember', window );">Five Point Seven Five Percent Senior Notes [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityInformationLineItems', window );"><strong>Entity Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">5.75% Senior Notes due 2044<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">VAL44*<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementClassOfStockAxis=val_A5.85SeniorNotesDue2044Member', window );">5.85%SeniorNotesDue2044 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityInformationLineItems', window );"><strong>Entity Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">5.85% Senior Note due 2044<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">VAL/44*<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AmendmentFlag">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AmendmentFlag</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CityAreaCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Area code of city</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CityAreaCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentPeriodEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented.  If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentPeriodEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentType">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:submissionTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressAddressLine1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Address Line 1 such as Attn, Building Name, Street Name</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressAddressLine1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressCityOrTown">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of the City or Town</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressCityOrTown</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressCountry">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>ISO 3166-1 alpha-2 country code.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressCountry</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:countryCodeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressPostalZipCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Code for the postal or zip code</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressPostalZipCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityEmergingGrowthCompany">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate if registrant meets the emerging growth company criteria.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityEmergingGrowthCompany</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFileNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFileNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:fileNumberItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityIncorporationStateCountryCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Two-character EDGAR code representing the state or country of incorporation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityIncorporationStateCountryCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarStateCountryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityInformationLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>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.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityInformationLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityTaxIdentificationNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityTaxIdentificationNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:employerIdItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LocalPhoneNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Local phone number for entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LocalPhoneNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementIssuerTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 13e<br> -Subsection 4c<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementIssuerTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 14d<br> -Subsection 2b<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_Security12bTitle">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Title of a 12(b) registered security.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_Security12bTitle</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:securityTitleItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_SecurityExchangeName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of the Exchange on which a security is registered.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection d1-1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_SecurityExchangeName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarExchangeCodeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_SolicitingMaterial">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Section 14a<br> -Number 240<br> -Subsection 12<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_SolicitingMaterial</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_TradingSymbol">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Trading symbol of an instrument as listed on an exchange.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_TradingSymbol</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:tradingSymbolItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_WrittenCommunications">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br> -Section 425<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_WrittenCommunications</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementClassOfStockAxis=val_ClassAOrdinarySharesUS0.40ParValueMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementClassOfStockAxis=val_ClassAOrdinarySharesUS0.40ParValueMember</td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementClassOfStockAxis=val_FourPointSevenZeroPercentSeniorNotesDueTwoThousandTwentyOneMember</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementClassOfStockAxis=val_A4.875SeniorNotesDue2022MemberMember</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementClassOfStockAxis=val_FourPointFiveZeroPercentSeniorNotesDueTwoThousandTwentyFourMember</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementClassOfStockAxis=val_A4.75SeniorNotesDue2024MemberMember</td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementClassOfStockAxis=val_EightPointZeroPercentSeniorNotesDueTwoThousandTwentyFourMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementClassOfStockAxis=val_EightPointZeroPercentSeniorNotesDueTwoThousandTwentyFourMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementClassOfStockAxis=val_FivePointTwoPercentSeniorNotesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementClassOfStockAxis=val_FivePointTwoPercentSeniorNotesMember</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementClassOfStockAxis=val_A7.38SeniorNotesDue2025Member</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementClassOfStockAxis=val_SevenPointSevenFivePercentSeniorNotesDueTwoThousandTwentySixMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementClassOfStockAxis=val_SevenPointSevenFivePercentSeniorNotesDueTwoThousandTwentySixMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementClassOfStockAxis=val_A5.40SeniorNotesDue2042Member</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<DOCUMENT>
<TYPE>EXCEL
<SEQUENCE>12
<FILENAME>Financial_Report.xlsx
<DESCRIPTION>IDEA: XBRL DOCUMENT
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    "val_FourPointFiveZeroPercentSeniorNotesDueTwoThousandTwentyFourMember": {
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     "lang": {
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    "val_FourPointSevenZeroPercentSeniorNotesDueTwoThousandTwentyOneMember": {
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     "lang": {
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    "val_SevenPointSevenFivePercentSeniorNotesDueTwoThousandTwentySixMember": {
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 "std_ref": {
  "r0": {
   "Name": "Exchange Act",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "12",
   "Subsection": "b"
  },
  "r1": {
   "Name": "Exchange Act",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "12",
   "Subsection": "d1-1"
  },
  "r2": {
   "Name": "Exchange Act",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "13e",
   "Subsection": "4c"
  },
  "r3": {
   "Name": "Exchange Act",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "14d",
   "Subsection": "2b"
  },
  "r4": {
   "Name": "Exchange Act",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "14a",
   "Subsection": "12"
  },
  "r5": {
   "Name": "Regulation 12B",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "12",
   "Subsection": "b-2"
  },
  "r6": {
   "Name": "Securities Act",
   "Number": "230",
   "Publisher": "SEC",
   "Section": "425"
  }
 },
 "version": "2.1"
}
</TEXT>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
