Valaris to sell offshore rig for $108m

Valaris to sell offshore rig for $108m

Valaris Ltd, the Bermuda-headquartered offshore drilling company, has agreed to sell its jack-up rig Valaris 247 to BW Energy for approximately $108 million in cash. The sale is expected to close in t...

Valaris at a Loss on Tax Expense

Valaris reported a net loss of $39 million for the first quarter of 2025, hurt by a tax expense of $194 million.

Valaris sells VALARIS 247 jackup to BW Energy for $108 million - Drilling Contractor

Valaris Limited agreed to sell jackup VALARIS 247 to BW Energy for cash proceeds of approximately $108 million. This sale is expected to close in Q2 2025, subject to customary closing conditions. As part of the sales agreement, BWE will be restricted from using the rig outside of BWE-owned or affiliated properties for the rig’s … The post Valaris sells VALARIS 247 jackup to BW Energy for $108 million appeared first on Drilling Contractor.

#Valaris Offloads VALARIS 247 A $108 Million Deal with BW Energy

Valaris Limited (NYSE: VAL), a prominent player in the offshore drilling sector, has announced the successful sale of its jackup rig, VALARIS 247, to BW Energy for a substantial $108 million. This transaction marks a significant move for Valaris as it continues to streamline its operations and focus on enhancing shareholder value amidst a competitive market. With 72,929,687.5 million shares outstanding and a current trading price of $35.48, Vala…