Valaris Secures $900 Million in New Offshore Rig Contracts

Bermuda-incorporated offshore drilling contractor Valaris has secured a batch of new drillship and jack-up rig assignments and extensions in Africa, Asia-Pacific, Europe, and North and South America, pushing its total backlog to $4.7 billion, according to an [Offshore Energy](https://www.offshore-energy.biz/rig-gigs-of-900-million-push-valaris-backlog-to-4-7-billion/) report. The new contracts and extensions, valued at over $900 million, include work for Valaris' drillships and premium jack-up rigs in regions such as West Africa, Southeast Asia, the North Sea, and offshore Brazil. The additions significantly expand Valaris' existing backlog, which stood at $3.8 billion at the end of 2025. 'This substantial increase in our backlog is a testament to the quality of our assets and the expertise of our teams,' said Valaris CEO Jack Winton. 'We continue to see strong demand for our high-specification offshore drilling rigs as operators invest in new exploration and development projects around the world.' The new contracts cover a range of activities, including exploration drilling, development drilling, and well intervention work. The expanded backlog provides Valaris with improved visibility on future revenue streams and cash flow as the offshore energy sector continues its recovery from the COVID-19 pandemic. Valaris is one of the world's largest offshore drilling contractors, operating a fleet of 45 rigs, including 13 drillships, 12 semi-submersible rigs, and 20 jack-up rigs. The company has a strong presence in key offshore basins, making it well-positioned to capitalize on the industry's ongoing investment cycle.