VALARIS TAKES DELIVERY OF TWO NEWBUILS DRILLSHIPS

December 26, 2023

Valaris has exercised its options and taken delivery of newbuild drillships VALARIS DS-13 and DS-14 for an aggregate purchase price of approximately $337 million.
VALARIS DS-13 and DS-14 will be mobilized from South Korea to Las Palmas, Spain, where the rigs will be stacked until they are contracted for work. The purchase of the rigs is expected to increase the Company’s fourth quarter 2023 capital expenditures by approximately $355 million, representing the purchase price for the rigs and costs associated with preparing the rigs to mobilize from South Korea to Las Palmas. In addition, the Company anticipates 2024 capital expenditures of approximately $35 million primarily related to mobilization costs.
The two units are DSME 12000 DPS3 drillships built at the DSME Okpo shipyard in Geoje, South Korea.
President and Chief Executive Officer Anton Dibowitz said, “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.”
(Source: Valaris)