Offshore drilling firm Valaris has taken supply of newbuild drillships VALARIS DS-13 and DS-14 for an combination buy value of roughly $337 million.
VALARIS DS-13 and DS-14 shall be mobilized from South Korea to Las Palmas in Spain, the place the rigs shall be stacked till they’re contracted for work.
The buy of the rigs is predicted to extend the corporate’s fourth quarter 2023 capital expenditures by roughly $355 million, representing the acquisition value for the rigs and prices related to getting ready the rigs to mobilize from South Korea to Las Palmas, the corporate knowledgeable.
In addition, Valaris anticipates 2024 capital expenditures of roughly $35 million primarily associated to mobilization prices.
Anton Dibowitz, President and Chief Executive Officer, mentioned: “We are delighted to add these two rigs, the highest specification drillships remaining at the South Korean shipyards, to our fleet. These additions increase our drillship fleet to 13 rigs, reinforcing its position as one of the most technically capable in the industry.
“Following the successful contracting of six of our stacked drillships since mid-2021, the purchase of VALARIS DS-13 and DS-14 increases our operating leverage to the attractive ultra-deepwater floater market.
“Based on our positive market outlook, growing future demand and strong customer interest in these rigs, we believe that the purchase of these high specification drillships at compelling prices will generate attractive returns.”
