Description

Valaris’ Four Available Drillships Are Now Contracted — Can Momentum Continue?

Valaris, a provider of offshore drilling services, reported third quarter 2025 results characterized by solid operational performance and continued execution of its commercial strategy. The company achieved fleet-wide revenue efficiency of 95%, contributing to adjusted EBITDA of $163 million and adjusted free cash flow of $237 million. Share repurchases of $75 million during the quarter demonstrated Valaris’s commitment to returning capital to shareholders. Safety milestones were also highlighted, with several rigs logging significant recordable-free periods and the company receiving recognition from the Center for Offshore Safety for its commitment to innovation and safety culture. Commercially, Valaris secured new contracts and extensions representing nearly $200 million added to its backlog since the prior quarter, bringing year-to-date drillship backlog additions to approximately $1.4 billion. A notable contract includes VALARIS DS-12’s award from BP Offshore Egypt, reaffirming Valaris’s long-standing presence in the region.