Valaris Ltd (N:VAL)
Business Focus: Oil & Gas Drilling
| Sector: Energy | Industry: Oil & Gas Drilling |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | Clarendon House, 2 Church Street HAMILTON HM 11 |
| Tel: | N/A |
| Website: | https://www.valaris.com |
| IR: | See website |
| Key People | ||
| Anton Dibowitz President, Chief Executive Officer, Director | Christopher T. Weber Chief Financial Officer, Senior Vice President | Gilles Luca Chief Operating Officer, Senior Vice President |
| Davor Vukadin Senior Vice President, General Counsel, Secretary | Matthew Lyne Senior Vice President, Chief Commercial Officer | Darin Gibbins Vice President - Investor Relations, Treasurer |
| Business Overview |
| Valaris Limited provides an offshore drilling service. The Company operates a rig fleet of ultra-deepwater drill ships, versatile semisubmersibles and modern shallow water jackups. The Company is engaged in providing offshore contract drilling services to the international oil and gas industry with operations in the offshore market across six continents. The Company operates through four segments: Floaters, which includes its drill ships and semisubmersible rigs; Jackups; ARO, and Other, which consists of management services on rigs owned by third parties and the activities associated with its arrangements with ARO. It provides drilling services across all water depths with unmatched scale, geographic presence and customer relationships. Its customers include many of the offshore exploration and production companies, including integrated energy companies, national oil companies and independent operators. |
| Financial Overview |
| For the three months ended 31 March 2024, Valaris Ltd revenues increased 22% to $525M. Net income decreased 45% to $25.5M. Revenues reflect an increase in demand for the Company's products and services due to favorable market conditions. Net income was offset by Contract drilling (exclusive of deprecia increase of 18% to $444.8M (expense), Interest expense, net increase of 59% to $17.7M (expense), Depreciation increase of 15% to $26.8M (expense). |
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