Valaris Limited (VAL) announced a 940-day contract extension for the drillship VALARIS DS-16, beginning in June 2026, along with a new 914-day contract for the drillship VALARIS DS-18, expected to commence in the mid-fourth quarter of 2026. Both agreements are with Anadarko Petroleum Corporation, a wholly-owned subsidiary of Occidental, for operations in the Gulf of America. The combined contribution to the company's contracted revenue backlog is approximately $760 million.
Valaris said it has secured approximately $1.9 billion in new contract backlog so far this year, reflecting solid execution of its commercial strategy and its ability to deliver safe and efficient operations for its customers.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.