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Valaris released its April 2025 fleet stats report, which includes new contracts and contract extensions for many of its vessels.

First, there are the extensions of existing bareboat charter (BBC) agreements through the end of April 2025, or completion of well in progress, for four jackups – VALARIS 116, 140, 146 and 250 – that are leased to ARO Drilling to undertake drilling contracts offshore Saudi Arabia. Those four plus VALARIS 141 are leased to ARO to undertake drilling contracts offshore Saudi Arabia.

The BBC extensions for VALARIS 116, 140, 146 and 250 are effective from May 2025, and for VALARIS 141 from August 2025, in direct continuation of their existing BBCs.

VALARIS 116 and 250 are expected to be out of service at zero rate for approximately six months each from October 2025 to March 2026 to complete special periodic surveys and major equipment recertifications. These out-of-service periods are included within each rig’s five-year BBC duration.

Also reported is a 545-day contract for jackup VALARIS 117 with an undisclosed operator offshore Trinidad. The contract is expected to commence in Q3 2026. The operating day rate is in line with recent market rates in the region, and the contract includes a 185-day priced option.

VALARIS 248 received a 730-day contract for the North Sea operating region. The contract is expected to commence in November 2025.

And lastly, a 180-day priced option was exercised by Esso Australia for jackup VALARIS 107. The priced option period is expected to commence in November 2025 in direct continuation of the current program.