XML 69 R55.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Equity Method Investment in ARO Equity Method Investment In ARO Narrative (Details) $ in Millions | 3 Months Ended | 4 Months Ended | 8 Months Ended | 12 Months Ended
--- | --- | --- | --- | ---
Sep. 30, 2023 USD ($) | Apr. 30, 2021 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2023 USD ($) rigs | Dec. 31, 2022 USD ($) | Dec. 31, 2020
Schedule of Equity Method Investments [Line Items] |  |  |  |  |  |
Total number of contract drilling rigs |  |  |  | 53 |  |
Number of jackups leased by ARO |  |  |  | 8 |  |
Contract terms on purchased rigs |  |  |  | 15 years |  |
Order Period |  |  |  |  |  | 10 years
Minimum renewal contract terms for newbuild rigs |  |  |  | 8 years |  |
Shareholder Notes Payable, Term |  |  |  | 10 years |  |
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate |  |  |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |  |  |
Basis spread on variable rate |  |  |  | 2.10% |  |
ARO |  |  |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |  |  |
Total number of contract drilling rigs |  |  |  | 8 |  |
Number of newbuild jackup rigs |  |  |  | 2 |  |
ARO | Asset under Construction [Member] |  |  |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |  |  |
Number of newbuild jackup rigs |  |  |  | 1 |  |
ARO | 10 years |  |  |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |  |  |
Number of newbuild jackup rigs |  |  |  | 20 |  |
ARO |  |  |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |  |  |
Equity Method Investment Summarized Financial Information Non Cash Interest Income | $ | $ 14.8 |  |  |  |  |
Early Repayment of Principal from Joint Venture Non Current | $ | $ 40.0 |  |  |  |  |
ARO |  |  |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |  |  |
Lease Revenue From Related Party | $ |  | $ 21.7 | $ 35.4 | $ 69.2 | $ 56.7 |
ARO |  |  |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |  |  |
Ownership percentage |  |  |  | 50.00% |  |

X
- Definition Percentage points added to the reference rate to compute the variable rate on the debt instrument. + References No definition available. + Details
Name: | us-gaap_DebtInstrumentBasisSpreadOnVariableRate1
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition The percentage of ownership of common stock or equity participation in the investee accounted for under the equity method of accounting. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3 + Details
Name: | us-gaap_EquityMethodInvestmentOwnershipPercentage
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | instant

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(g)(1)(ii)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 28 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482907/825-10-50-28 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3 + Details
Name: | us-gaap_ScheduleOfEquityMethodInvestmentsLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Contracts Terms for ARO Owned Rigs + References No definition available. + Details
Name: | val_ContractsTermsForAROOwnedRigs
Namespace Prefix: | val_
Data Type: | xbrli:durationItemType
Balance Type: | na
Period Type: | duration

X
- Definition Early Repayment of Principal from Joint Venture Non Current + References No definition available. + Details
Name: | val_EarlyRepaymentOfPrincipalFromJointVentureNonCurrent
Namespace Prefix: | val_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Equity Method Investment Summarized Financial Information Non Cash Interest Income + References No definition available. + Details
Name: | val_EquityMethodInvestmentSummarizedFinancialInformationNonCashInterestIncome
Namespace Prefix: | val_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Lease Revenue From Related Party + References No definition available. + Details
Name: | val_LeaseRevenueFromRelatedParty
Namespace Prefix: | val_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Minimum Renewal Contract Terms For NewBuild Rigs + References No definition available. + Details
Name: | val_MinimumRenewalContractTermsForNewBuildRigs
Namespace Prefix: | val_
Data Type: | xbrli:durationItemType
Balance Type: | na
Period Type: | duration

X
- Definition Number of ARO newbuild rigs ordered + References No definition available. + Details
Name: | val_NumberOfARONewbuildRigsOrdered
Namespace Prefix: | val_
Data Type: | xbrli:integerItemType
Balance Type: | na
Period Type: | instant

X
- Definition Number of jackups leased to ARO + References No definition available. + Details
Name: | val_NumberOfJackupsLeasedToARO
Namespace Prefix: | val_
Data Type: | xbrli:integerItemType
Balance Type: | na
Period Type: | instant

X
- Definition Order Period + References No definition available. + Details
Name: | val_OrderPeriod
Namespace Prefix: | val_
Data Type: | xbrli:durationItemType
Balance Type: | na
Period Type: | duration

X
- Definition Shareholder Notes Payable, Term + References No definition available. + Details
Name: | val_ShareholderNotesPayableTerm
Namespace Prefix: | val_
Data Type: | xbrli:durationItemType
Balance Type: | na
Period Type: | duration

X
- Definition Total Number Of Contract Drilling Rigs + References No definition available. + Details
Name: | val_TotalNumberOfContractDrillingRigs
Namespace Prefix: | val_
Data Type: | xbrli:integerItemType
Balance Type: | na
Period Type: | instant

X
- Details
Name: | us-gaap_VariableRateAxis=us-gaap_SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_StatementBusinessSegmentsAxis=val_AROMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | val_DeliveryStatusAxis=us-gaap_AssetUnderConstructionMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_TimingOfTransferOfGoodOrServiceAxis=val_A10YearsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_RelatedPartyTransactionAxis=val_AROMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=val_AROMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=val_AROMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |