 | Valaris Limited Fleet Status Report July 29, 2024 | |||||||||||||
| New Contracts, Extensions and Other Updates Since Last Fleet Status Report | ||
Contract Backlog •Valaris has been awarded the following new contracts and contract extensions, with associated contract backlog of approximately $715 million, subsequent to issuing its most recent fleet status report on April 30, 2024. Contract backlog excludes lump sum payments such as mobilization fees and capital reimbursements. •Contract backlog increased to approximately $4.3 billion from approximately $4.0 billion as of April 30, 2024. Floater Contract Awards •Multi-year contract with Equinor offshore Brazil for drillship VALARIS DS-17. The contract has an estimated total duration of 852 days and is expected to commence in the third quarter 2025, in direct continuation of the rig's current program. The contract includes a 672-day drilling program that is expected to commence in the first half of 2026. The rig will be on standby for an estimated duration of 180 days between the end of the rig's current program and the beginning of the operating period. During the standby period, the rig may be available for work both inside and outside Brazil, which could lead to incremental revenue. The estimated total contract value is approximately $498 million, inclusive of MPD, additional services and fees for mobilization and minor rig upgrades. Jackup Contract Awards •26-well plug and abandonment contract in the UK North Sea for jackup VALARIS 92. The contract has an estimated duration of two years and is expected to commence in the first quarter 2025, in direct continuation of the rig’s current program with another operator. The estimated total contract value is approximately $75 million. •Eight-well contract with Shell offshore Trinidad for jackup VALARIS 249. The contract has an estimated duration of 365 days and is expected to commence in the first half 2026. The estimated total contract value is approximately $66 million. •Two-well contract with ENI Energy E&P UK Limited in the UK North Sea for jackup VALARIS Norway. The contract has an estimated duration of 292 days and is expected to commence in the first quarter 2025. The estimated total contract value is approximately $39 million. •One-year priced option exercised by North Oil Company offshore Qatar for jackup VALARIS 110. The one-year option will commence in October 2024 in direct continuation of the rig’s current program. The total contract value for the one-year priced option is approximately $26 million. •One-well contract with Anasuria Hibiscus UK Limited in the UK North Sea for jackup VALARIS 248. The contract has an estimated duration of 93 days and is expected to commence in the second quarter 2025, following completion of the rig's current program with another operator and a shipyard visit for planned maintenance. The estimated total contract value is $14.2 million. •One-well contract offshore Angola for jackup VALARIS 144. The contract has an estimated duration of 45 days and is expected to commence in the first quarter 2025, in advance of a previously disclosed 13-well contract for the rig with the same operator. The estimated total contract value is approximately $8.5 million. •One-well option exercised by TAQA on behalf of the Porthos CCS project in the Netherlands for jackup VALARIS 123. The extension period has a minimum duration of 15 days and is expected to commence in the third quarter 2025, in direct continuation of the rig’s current program. The operating day rate for work performed in 2025 is $152,500. Other Fleet Status Updates •In late July, ARO received suspension notices for the drilling contracts for VALARIS 147 and VALARIS 148, which are two of our jackups leased to ARO. Discussions are ongoing with Saudi Aramco regarding whether other Valaris leased rigs or ARO-owned rigs could be subject to the suspensions instead of VALARIS 147 and VALARIS 148 as well as when the suspensions will be effective. As of July 29, 2024, these two rigs accounted for $35 million of Valaris' contract backlog. | ||
| Valaris Limited Fleet Status Report July 29, 2024 | |||||||||||||
Contract Backlog(1) (2) ($ millions) | 2024 | 2025 | 2026+ | Total | Contracted Days(1) (2) | 2024 | 2025 | 2026+ | |||||||||||||||||||||
| Drillships | $ | 468.4 | $ | 990.5 | $ | 1,049.4 | $ | 2,508.3 | Drillships | 1,318 | 2,536 | 2,201 | |||||||||||||||||
| Semisubmersibles | 68.6 | 53.5 | — | 122.1 | Semisubmersibles | 312 | 242 | — | |||||||||||||||||||||
| Floaters | $ | 537.0 | $ | 1,044.0 | $ | 1,049.4 | $ | 2,630.4 | Floaters | 1,630 | 2,778 | 2,201 | |||||||||||||||||
| HD - Harsh Environment | $ | 171.1 | $ | 275.5 | $ | 218.4 | $ | 665.0 | HD - Harsh Environment | 1,364 | 1,940 | 1,285 | |||||||||||||||||
| HD & SD - Modern | 95.2 | 196.3 | 147.4 | 438.9 | HD & SD - Modern | 917 | 1,534 | 966 | |||||||||||||||||||||
| SD - Legacy | 25.0 | 66.6 | 97.4 | 189.0 | SD - Legacy | 312 | 720 | 1,061 | |||||||||||||||||||||
| Jackups | $ | 291.3 | $ | 538.4 | $ | 463.2 | $ | 1,292.9 | Jackups | 2,593 | 4,194 | 3,312 | |||||||||||||||||
Other(3) | $ | 80.2 | $ | 142.1 | $ | 161.9 | $ | 384.2 | Other(3) | 1,701 | 2,457 | 2,580 | |||||||||||||||||
| Total | $ | 908.5 | $ | 1,724.5 | $ | 1,674.5 | $ | 4,307.5 | Total | 5,924 | 9,429 | 8,093 | |||||||||||||||||
ARO Drilling(4) | Average Day Rates(1) (2) | 2024 | 2025 | 2026+ | |||||||||||||||||||||||||
| Owned Rigs | $ | 153.7 | $ | 362.0 | $ | 807.2 | $ | 1,322.9 | Drillships | $ | 355,000 | $ | 391,000 | $ | 477,000 | ||||||||||||||
| Leased Rigs | 139.8 | 174.9 | 195.7 | 510.4 | Semisubmersibles | 220,000 | 221,000 | — | |||||||||||||||||||||
| Total | $ | 293.5 | $ | 536.9 | $ | 1,002.9 | $ | 1,833.3 | Floaters | $ | 329,000 | $ | 376,000 | $ | 477,000 | ||||||||||||||
| HD - Harsh Environment | $ | 125,000 | $ | 142,000 | $ | 170,000 | |||||||||||||||||||||||
| HD & SD - Modern | 104,000 | 128,000 | 153,000 | ||||||||||||||||||||||||||
| SD - Legacy | 80,000 | 92,000 | 92,000 | ||||||||||||||||||||||||||
| Jackups | $ | 112,000 | $ | 128,000 | $ | 140,000 | |||||||||||||||||||||||
(1) Contract backlog, contracted days and average day rates as of July 29, 2024. (2) Contract backlog and average day rates exclude certain types of non-recurring revenues such as lump sum mobilization payments. Contract backlog and contracted days include backlog and days when a rig is under suspension. Average day rates are adjusted to exclude suspension backlog and days. (3) Other represents contract backlog and contracted days related to bareboat charter agreements and management services contracts. Includes $35 million related to VALARIS 147 and VALARIS 148, which have received suspension notices from Saudi Aramco. (4) ARO Drilling contract backlog as of July 29, 2024. Includes $113 million within contract backlog for leased rigs related to VALARIS 147 and VALARIS 148, which have received suspension notices from Saudi Aramco. HD = Heavy Duty; SD = Standard Duty | |||||||||||||||||||||||||||||
| Valaris Limited Fleet Status Report July 29, 2024 | |||||||||||||
| Asset Category / Rig | Design | Year Delivered | Customer | Location | Contract Start Date | Contract End Date(1) | Day Rate(2) | Comments | ||||||||||||||||||||||||||||||||||||||||||
| Drillships | ||||||||||||||||||||||||||||||||||||||||||||||||||
| VALARIS DS-18 | GustoMSC P10000 | 2015 | Chevron | US GOM | Aug 22 | Aug 25 | Additional rate charged when MPD services provided | |||||||||||||||||||||||||||||||||||||||||||
| VALARIS DS-17 | GustoMSC P10000 | 2014 | Equinor Equinor Equinor | Brazil / Argentina Brazil Brazil | Sep 23 May 25 Sep 25 | Apr 25 Aug 25 Dec 27 | $447,000 $497,000 | Contract includes MPD and additional services Estimated total contract value of $498 million, inclusive of MPD, additional services and fees for mobilization and minor rig upgrades. Based on estimated duration of 852 days comprised of a 180-day standby period followed by a 672-day drilling program | ||||||||||||||||||||||||||||||||||||||||||
| VALARIS DS-16 | GustoMSC P10000 | 2014 | Occidental Occidental | US GOM US GOM | Jun 22 Jun 24 | Jun 24 Jun 26 | Additional rate charged when MPD services provided. 1-year priced option | |||||||||||||||||||||||||||||||||||||||||||
| VALARIS DS-15 | GustoMSC P10000 | 2014 | TotalEnergies BP TotalEnergies TotalEnergies | Brazil Brazil Brazil Brazil | Jun 21 May 24 Sep 24 Jan 25 | Apr 24 Sep 24 Dec 24 Sep 25 | $410,000 $254,000 $400,000 | Additional rate charged when MPD services provided Additional rate charged when MPD services provided Additional rate charged when MPD services provided Additional rate charged when MPD and additional services provided. Two 160-day priced options and one 120-day priced option, with increased operating day rates for each option period. Total contract value for option periods if exercised, excluding the provision of MPD and additional services, is approximately $210 million. | ||||||||||||||||||||||||||||||||||||||||||
| VALARIS DS-12 | DSME 12000 | 2013 | BP | Egypt | Jan 24 | Jan 25 | Total contract value of $136 million based on initial estimated duration of 320 days | |||||||||||||||||||||||||||||||||||||||||||
| VALARIS DS-10 | Samsung GF12000 | 2017 | SNEPCo | Nigeria | Apr 23 | Aug 24 | $231,000 | |||||||||||||||||||||||||||||||||||||||||||
| VALARIS DS-9 | Samsung GF12000 | 2015 | ExxonMobil | Angola | Jul 22 | Jul 25 | Contract includes MPD services. Two 6-month priced options | |||||||||||||||||||||||||||||||||||||||||||
| VALARIS DS-8 | Samsung GF12000 | 2015 | Petrobras | Brazil | Dec 23 | Dec 26 | $428,000 | Plus mobilization fee of approx. $30 million. Contract includes additional services. | ||||||||||||||||||||||||||||||||||||||||||
| VALARIS DS-7 | Samsung 96K | 2013 | Undisclosed | West Africa | Jun 24 | Oct 26 | Total contract value estimated to be $364 million based on initial estimated duration of 850 days | |||||||||||||||||||||||||||||||||||||||||||
| VALARIS DS-4 | Samsung 96K | 2010 | Petrobras Petrobras | Brazil Brazil | Jul 22 Dec 24 | Sep 24 Nov 27 | $450,000 | Contract includes MPD and additional services. Expect approx. 60 days out of service for contract preparations in 4Q24 Plus mobilization fee of approx. $41 million. Contract includes MPD and additional services | ||||||||||||||||||||||||||||||||||||||||||
| Stacked | ||||||||||||||||||||||||||||||||||||||||||||||||||
| VALARIS DS-14 | DSME 12000 | 2023 | Spain | |||||||||||||||||||||||||||||||||||||||||||||||
| VALARIS DS-13 | DSME 12000 | 2023 | Spain | |||||||||||||||||||||||||||||||||||||||||||||||
| VALARIS DS-11 | DSME 12000 | 2013 | Spain | |||||||||||||||||||||||||||||||||||||||||||||||
| Valaris Limited Fleet Status Report July 29, 2024 | |||||||||||||
| Asset Category / Rig | Design | Year Delivered | Customer | Location | Contract Start Date | Contract End Date(1) | Day Rate(2) | Comments | ||||||||||||||||||||||||||||||||||||||||||
| Semisubmersibles | ||||||||||||||||||||||||||||||||||||||||||||||||||
VALARIS DPS-5 | ENSCO 8500 Series, DP + Moored | 2012 | Eni | Mexico | Mar 24 | Jul 24 | $345,000 | Plus $3 million mobilization fee | ||||||||||||||||||||||||||||||||||||||||||
VALARIS DPS-1 | F&G ExD Millennium, DP | 2012 | Woodside | Australia | Jan 24 | Jun 25 | ||||||||||||||||||||||||||||||||||||||||||||
VALARIS MS-1 | F&G ExD Millennium, Moored | 2011 | Santos | Australia | Jan 24 | Apr 25 | Operations recommenced in Jan 24 following a suspension period. Three priced options each with an estimated duration of 45 days | |||||||||||||||||||||||||||||||||||||||||||
| Stacked | ||||||||||||||||||||||||||||||||||||||||||||||||||
| VALARIS DPS-6 | ENSCO 8500 Series, DP | 2012 | US GOM | |||||||||||||||||||||||||||||||||||||||||||||||
| VALARIS DPS-3 | ENSCO 8500 Series, DP + Moored | 2010 | US GOM | |||||||||||||||||||||||||||||||||||||||||||||||
| Valaris Limited Fleet Status Report July 29, 2024 | |||||||||||||
| Asset Category / Rig | Design | Year Delivered | Customer | Location | Contract Start Date | Contract End Date(1) | Day Rate(2) | Comments | ||||||||||||||||||||||||||||||||||||||||||
| Heavy Duty - Harsh Environment Jackups | ||||||||||||||||||||||||||||||||||||||||||||||||||
| VALARIS Norway | KFELS N Class | 2011 | Eni ENI Energy E&P | UK UK | Jan 24 Feb 25 | Jan 25 Dec 25 | VALARIS Norway substitutes for VALARIS 72 until the rig completes its current contract Total contract value of approx. $39 million based on estimated duration of 292 days | |||||||||||||||||||||||||||||||||||||||||||
| VALARIS Stavanger | KFELS N Class | 2011 | TotalEnergies | UK | May 24 | May 25 | Total contract value of approx. $52 million, including minor rig modifications, based on estimated duration of 360 days. Two priced options with an estimated duration of 270 days each | |||||||||||||||||||||||||||||||||||||||||||
| VALARIS 250 | LT Super Gorilla XL | 2003 | Saudi Aramco | Saudi Arabia | Jun 18 | Dec 24 | Leased to ARO Drilling(4). Expect approx. 10 days out of service for planned maintenance in 3Q24 | |||||||||||||||||||||||||||||||||||||||||||
| VALARIS 249 | LT Super Gorilla | 2001 | Undisclosed Undisclosed Perenco Undisclosed Shell | Trinidad Trinidad Trinidad Trinidad Trinidad | Jul 23 Aug 24 Oct 24 Dec 24 May 26 | Jul 24 Oct 24 Dec 24 Oct 25 May 27 | $125,000 $138,000 $163,000 | Plus mobilization fee of $8.5 million and a daily rate of $64,000 while the rig was in transit from New Zealand to Trinidad. Expect approx. 20 days out of service for unplanned repairs in 3Q24 Total contract value of approx. $66 million based on estimated duration of 365 days. Three priced options with an estimated duration of 50 days each | ||||||||||||||||||||||||||||||||||||||||||
| VALARIS 248 | LT Super Gorilla | 2000 | ENI Energy E&P Hibiscus | UK UK | Aug 20 May 25 | Mar 25 Aug 25 | Expect approx. 50 days out of service for planned maintenance across 1Q25 and 2Q25 Total contract value of $14.2 million based on estimated duration of 93 days | |||||||||||||||||||||||||||||||||||||||||||
| VALARIS 247 | LT Super Gorilla | 1998 | Undisclosed Eni | Australia Australia | Jul 24 Oct 24 | Oct 24 Dec 24 | $180,000 $180,000 | Plus mobilization and demobilization fees that cover moving and operating costs while the rig is in transit from/to the UK | ||||||||||||||||||||||||||||||||||||||||||
| VALARIS 123 | KFELS Super A | 2019 | Ithaca Energy Shell TAQA | UK UK Netherlands | May 24 Jul 24 Jan 25 | Jul 24 Jan 25 Sep 25 | $153,000 | Minimum total contract value of $6.3 million based on minimum duration of 45 days Total contract value of approx. $21 million based on initial estimated duration of 154 days Options for up to 10 wells with an estimated total duration of 300 days. Operating day rate increases to approx. $163,000 in 2026 | ||||||||||||||||||||||||||||||||||||||||||
| VALARIS 122 | KFELS Super A | 2013 | Shell | UK | Sep 23 | May 25 | Total contract value of over $60 million based on initial estimated duration of 500 days. Expect approx. 20 days out of service for planned maintenance in 3Q24 | |||||||||||||||||||||||||||||||||||||||||||
| VALARIS 121 | KFELS Super A | 2013 | Shell Shell | UK UK | Nov 23 Sep 24 | Sep 24 Oct 25 | Total contract value of over $25 million based on initial estimated duration of 210 days Total contract value of approx. $55 million based on estimated duration of 406 days. Plus two priced options | |||||||||||||||||||||||||||||||||||||||||||
| VALARIS 120 | KFELS Super A | 2013 | Harbour Energy Harbour Energy | UK | Jul 23 Jul 25 | Jul 25 Jul 28 | $130,000 $166,000 | Expect approx. 15 days out of service for planned maintenance in 3Q24 | ||||||||||||||||||||||||||||||||||||||||||
| Stacked | ||||||||||||||||||||||||||||||||||||||||||||||||||
| VALARIS Viking | KFELS N Class | 2010 | UK | |||||||||||||||||||||||||||||||||||||||||||||||
| VALARIS 102 | KFELS MOD V-A | 2002 | US GOM | |||||||||||||||||||||||||||||||||||||||||||||||
| Valaris Limited Fleet Status Report July 29, 2024 | |||||||||||||
| Asset Category / Rig | Design | Year Delivered | Customer | Location | Contract Start Date | Contract End Date(1) | Day Rate(2) | Comments | ||||||||||||||||||||||||||||||||||||||||||
Heavy Duty - Modern Jackups(3) | ||||||||||||||||||||||||||||||||||||||||||||||||||
| VALARIS 118 | LT 240-C | 2012 | BP | Trinidad | Apr 24 | Jun 25 | Total contract value of approx. $51 million based on initial estimated duration of 365 days | |||||||||||||||||||||||||||||||||||||||||||
| VALARIS 117 | LT 240-C | 2009 | Eni | Mexico | Dec 21 | Jan 25 | Expect approx. 30 days out of service for planned maintenance in 1Q25 | |||||||||||||||||||||||||||||||||||||||||||
| VALARIS 116 | LT 240-C | 2008 | Saudi Aramco | Saudi Arabia | Dec 18 | Dec 24 | Leased to ARO Drilling(4) | |||||||||||||||||||||||||||||||||||||||||||
| VALARIS 115 | BM Pacific Class 400 | 2013 | Shell | Brunei | Apr 23 | Apr 27 | Total contract value of approx. $159 million based on duration of four years | |||||||||||||||||||||||||||||||||||||||||||
| VALARIS 110 | KFELS MOD V-B | 2015 | North Oil Company | Qatar | Oct 21 | Oct 25 | 1-year priced option | |||||||||||||||||||||||||||||||||||||||||||
| VALARIS 108 | KFELS MOD V-B | 2007 | Saudi Aramco | Saudi Arabia | Mar 24 | Mar 27 | Leased to ARO Drilling(4) | |||||||||||||||||||||||||||||||||||||||||||
| VALARIS 107 | KFELS MOD V-B | 2006 | Undisclosed ExxonMobil | Australia Australia | Mar 24 Oct 24 | Sep 24 Oct 25 | $150,000 $153,000 | Two 180-day priced options | ||||||||||||||||||||||||||||||||||||||||||
| VALARIS 106 | KFELS MOD V-B | 2005 | BP BP | Indonesia Indonesia | Jan 24 Apr 25 | Jan 25 May 25 | $85,000 $95,000 | Expect approx. 90 days out of service for planned maintenance across 1Q25 and 2Q25. Priced options for work into 1Q26 | ||||||||||||||||||||||||||||||||||||||||||
| Stacked | ||||||||||||||||||||||||||||||||||||||||||||||||||
| VALARIS 111 | KFELS MOD V-B | 2003 | Croatia | |||||||||||||||||||||||||||||||||||||||||||||||
| VALARIS 109 | KFELS MOD V-Super B | 2008 | Namibia | |||||||||||||||||||||||||||||||||||||||||||||||
| VALARIS 104 | KFELS MOD V-B | 2002 | UAE | |||||||||||||||||||||||||||||||||||||||||||||||
| Valaris Limited Fleet Status Report July 29, 2024 | |||||||||||||
| Asset Category / Rig | Design | Year Delivered | Customer | Location | Contract Start Date | Contract End Date(1) | Day Rate(2) | Comments | ||||||||||||||||||||||||||||||||||||||||||
Standard Duty - Modern Jackups(3) | ||||||||||||||||||||||||||||||||||||||||||||||||||
| VALARIS 148 | LT Super 116-E | 2013 | Saudi Aramco | Saudi Arabia | Nov 19 | Feb 26 | Leased to ARO Drilling(4). Suspension notice received from Saudi Aramco. Discussions are ongoing with Saudi Aramco regarding whether another Valaris leased rig or ARO-owned rig could be subject to the suspension instead of VALARIS 148 as well as when the suspension will be effective. | |||||||||||||||||||||||||||||||||||||||||||
| VALARIS 147 | LT Super 116-E | 2013 | Saudi Aramco | Saudi Arabia | Sep 19 | Dec 25 | Leased to ARO Drilling(4). Expect approx. 30 days out of service for planned maintenance in 3Q24. Suspension notice received from Saudi Aramco. Discussions are ongoing with Saudi Aramco regarding whether another Valaris leased rig or ARO-owned rig could be subject to the suspension instead of VALARIS 147 as well as when the suspension will be effective. | |||||||||||||||||||||||||||||||||||||||||||
| VALARIS 146 | LT Super 116-E | 2011 | Saudi Aramco | Saudi Arabia | Sep 18 | Dec 24 | Leased to ARO Drilling(4) | |||||||||||||||||||||||||||||||||||||||||||
| VALARIS 144 | LT Super 116-E | 2010 | Undisclosed Undisclosed | Angola Angola | Feb 25 Apr 25 | Mar 25 May 27 | Out of service for contract preparations and mobilization in 3Q24, 4Q24 and 1Q25. Total contract value of approx. $8.5 million based on estimated duration of 45 days Total contract value estimated to be between $149 million and $156 million, including a mobilization fee from the U.S. Gulf of Mexico. | |||||||||||||||||||||||||||||||||||||||||||
| VALARIS 141 | LT Super 116-E | 2016 | Saudi Aramco | Saudi Arabia | Aug 22 | Aug 25 | Leased to ARO Drilling(4) | |||||||||||||||||||||||||||||||||||||||||||
| VALARIS 140 | LT Super 116-E | 2016 | Saudi Aramco | Saudi Arabia | Mar 22 | Mar 25 | Leased to ARO Drilling(4) | |||||||||||||||||||||||||||||||||||||||||||
| VALARIS 76 | LT Super 116-C | 2000 | Saudi Aramco | Saudi Arabia | Aug 24 | Aug 29 | Leased to ARO Drilling(4). Expect approx. 30 days out of service in 3Q24 for contract preparations | |||||||||||||||||||||||||||||||||||||||||||
| Stacked | ||||||||||||||||||||||||||||||||||||||||||||||||||
| VALARIS 145 | LT Super 116-E | 2010 | US GOM | |||||||||||||||||||||||||||||||||||||||||||||||
| VALARIS 143 | LT Super 116-E | 2010 | UAE | |||||||||||||||||||||||||||||||||||||||||||||||
| VALARIS 75 | LT Super 116-C | 1999 | US GOM | |||||||||||||||||||||||||||||||||||||||||||||||
| Valaris Limited Fleet Status Report July 29, 2024 | |||||||||||||
| Asset Category / Rig | Design | Year Delivered | Customer | Location | Contract Start Date | Contract End Date(1) | Day Rate(2) | Comments | ||||||||||||||||||||||||||||||||||||||||||
| Standard Duty - Legacy Jackups | ||||||||||||||||||||||||||||||||||||||||||||||||||
| VALARIS 92 | LT 116-C | 1982 | Harbour Energy Undisclosed | UK UK | Mar 24 Mar 25 | Feb 25 Feb 27 | $95,000 | Total contract value of approx. $75 million based on duration of two years | ||||||||||||||||||||||||||||||||||||||||||
| VALARIS 72 | Hitachi 300C | 1981 | Eni Eni | UK UK | Jan 20 Feb 25 | Jan 25 Sep 27 | ||||||||||||||||||||||||||||||||||||||||||||
| Other - Managed Rigs | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Thunder Horse | Deepwater Semisubmersible | BP | US GOM | Jan 24 | Jan 27 | Total contract value of approx. $153 million | ||||||||||||||||||||||||||||||||||||||||||||
| Mad Dog | Deepwater Spar Drilling Rig | BP | US GOM | Jan 24 | Jan 27 | Total contract value of approx. $106 million | ||||||||||||||||||||||||||||||||||||||||||||
| Valaris Limited Fleet Status Report July 29, 2024 | |||||||||||||
| Asset Category / Rig | Design | Customer | Location | Contract Start Date | Contract End Date(1) | Day Rate(2) | Comments | |||||||||||||||||||||||||||||||||||||
| ARO Drilling | ||||||||||||||||||||||||||||||||||||||||||||
| Jackup Rigs Owned by ARO Drilling | ||||||||||||||||||||||||||||||||||||||||||||
| Gilbert Rowe | LT 116-C | Saudi Aramco | Saudi Arabia | Oct 17 | Jan 26 | |||||||||||||||||||||||||||||||||||||||
| SAR 201 | BM 200-H | Saudi Aramco | Saudi Arabia | Feb 18 | Feb 26 | Expect approx. 45 days out of service for planned maintenance across 3Q24 and 4Q24 | ||||||||||||||||||||||||||||||||||||||
| Bob Keller | LT Tarzan 225-C | Saudi Aramco | Saudi Arabia | Oct 17 | Jan 26 | |||||||||||||||||||||||||||||||||||||||
| J.P. Bussell | LT Tarzan 225-C | Saudi Aramco | Saudi Arabia | Oct 17 | Jan 26 | Expect approx. 15 days out of service for planned maintenance in 3Q24 | ||||||||||||||||||||||||||||||||||||||
| Scooter Yeargain | LT Tarzan 225-C | Saudi Aramco | Saudi Arabia | Oct 18 | Dec 26 | Expect approx. 15 days out of service for planned maintenance in 3Q24 | ||||||||||||||||||||||||||||||||||||||
| Hank Boswell | LT Tarzan 225-C | Saudi Aramco | Saudi Arabia | Oct 18 | Dec 26 | |||||||||||||||||||||||||||||||||||||||
| SAR 202 | KFELS Super B | Saudi Aramco | Saudi Arabia | Oct 17 | Jan 26 | |||||||||||||||||||||||||||||||||||||||
| Kingdom 1 | LT 116-C | Saudi Aramco | Saudi Arabia | Nov 23 | Nov 31 | |||||||||||||||||||||||||||||||||||||||
| Kingdom 2 | LT 116-C | Saudi Aramco | Saudi Arabia | Aug 24 | Aug 32 | |||||||||||||||||||||||||||||||||||||||
| Valaris Limited Fleet Status Report July 29, 2024 | |||||||||||||
Out of Service Days (1) | ||||||||||||||||||||||||||||||||
| Rig | Asset Category | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | |||||||||||||||||||||||||||
| VALARIS DS-4 | Floater - Drillship | 60 | ||||||||||||||||||||||||||||||
| VALARIS 250 | Jackup - Heavy Duty Harsh Environment (Leased to ARO Drilling) | 10 | ||||||||||||||||||||||||||||||
| VALARIS 249 | Jackup - Heavy Duty Harsh Environment | 20 | ||||||||||||||||||||||||||||||
| VALARIS 248 | Jackup - Heavy Duty Harsh Environment | 20 | 30 | |||||||||||||||||||||||||||||
| VALARIS 122 | Jackup - Heavy Duty Harsh Environment | 20 | ||||||||||||||||||||||||||||||
| VALARIS 120 | Jackup - Heavy Duty Harsh Environment | 15 | ||||||||||||||||||||||||||||||
| VALARIS 117 | Jackup - Heavy Duty Modern | 30 | ||||||||||||||||||||||||||||||
| VALARIS 106 | Jackup - Heavy Duty Modern | 75 | 15 | |||||||||||||||||||||||||||||
| VALARIS 147 | Jackup - Standard Duty Modern (Leased to ARO Drilling) | 30 | ||||||||||||||||||||||||||||||
| VALARIS 144 | Jackup - Standard Duty Modern | 90 | 90 | 30 | ||||||||||||||||||||||||||||
| VALARIS 76 | Jackup - Standard Duty Modern (Leased to ARO Drilling) | 30 | ||||||||||||||||||||||||||||||
| Valaris Limited Fleet Status Report July 29, 2024 | |||||||||||||
