Rig owner Valaris has secured new contracts and extensions worth a combined $245 million in associated revenue backlog.
Valaris confirmed Tuesday its existing contract with Fieldwood Energy for the drillship Valaris DS-16, formerly known as Resolute, in the US Gulf of Mexico had been extended roughly 180 days, between March and September next year, due to the exercise of a 90-day option.
Valaris added the extension would begin following the end of the contract term upon the completion of the current well in progress.
It also revealed the contract for its drillship Valaris DS-7 with Burullus off Egypt had been extended by 165 days, from October to mid-March next year, with Burullus exercising three one-well options.
The company’s drillship Valaris DS-4 has also landed a one-well contract with Amni off Ghana which is scheduled to start in March next year and last about 50 days.
Meanwhile, Australian operator Woodside Petroleum has extended its contract for the semi-submersible Valaris DPS-1 for another seven wells off Australia, with an estimated duration of 420 days between July 2020 and September 2021.
Norwegian operator Equinor also extended its contract for the jack-up Valaris JU-291 for another two wells, with an estimated duration of 208 days between January and August next year.
The jack-up Valaris JU-115 has also seen its contract with Mubadala Petroleum off Thailand extended by two months, from January 2020 to March 2020.
Valaris also confirmed Tuesday the previously reported four-well contract with Neptune Energy for the jack-up Valaris JU-248 in the North Sea which is set to start in the third quarter of next year and run for about 492 days.
The rig owner also stated Tuesday that a previously disclosed contract with Premier Oil in the North Sea had been transferred from the jack-up Valaris JU-121 to the Valaris JU-248.
