6 Mar 2017director interest notice● Neutral
Valaris Ltd Sr. VP - Eastern Hemisphere Steven Joseph Brady had 15,713 shares withheld for taxes on vesting stock.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
6 Mar 2017director interest notice● Neutral
Valaris Ltd Senior Vice President & CFO Jonathan Baksht exercised stock options for 18,299 shares and disposed of 24,510 shares.
6 Mar 2017director interest notice● Neutral
Valaris Ltd EVP & Chief Operating Officer Patrick Carey Lowe had 18,330 shares withheld for taxes on vesting stock.
6 Mar 2017director interest notice● Neutral
Valaris Ltd Sr. VP - Western Hemisphere Gilles Luca exercised stock options for 6,981 shares and disposed of 13,046 shares.
6 Mar 2017director interest notice● Neutral
Valaris Ltd SVP-General Counsel/Secretary Michael Mcguinty exercised stock options for 37,160 shares and disposed of 54,626 shares.
28 Feb 2017quarterly activities report● Neutral
Valaris Ltd reported a quarterly net income of $39.0 million for the period ended 2016-12-31.
22 Feb 2017production update● NeutralMajor
Ensco's February 22, 2017 fleet status report states that it no longer expects to release day rates for new contracts. It shows DS-7 still available in Spain with the TOTAL termination fees unchanged, and DS-10's delivery deferred by 24 months to 1Q19 (previously 1Q17). ENSCO 54's Saudi Aramco contract was extended to September 2022 at a low-70s rate, and 8505 and 8503 have new short contracts.
13 Feb 2017securities registration● Neutral
Valaris Ltd filed the final prospectus for a registered offering.
9 Feb 2017substantial holder notice● Neutral
The Vanguard Group reported a Valaris Ltd shareholding of 32,554,366 shares (10.74% of votes) in a periodic institutional filing.
1 Feb 2017business combination● Neutral
Ensco filed a registration statement (S-4) to swap $332,048,000 of its privately placed 8.00% Senior Notes due 2024 for identical, freely tradable registered notes. The filing says Ensco receives no proceeds and the terms are identical in all material respects, so this is a paperwork step rather than new borrowing. The text provided does not state how these 8.00% notes were originally issued (inference: they likely relate to the debt refinancing activity of December 2016).
24 Jan 2017substantial holder notice● Neutral
BlackRock, Inc reported a Valaris Ltd shareholding of 24,567,321 shares (8.10% of votes) in a periodic institutional filing.
16 Dec 2016debt financing● Neutral
On December 15, 2016, Ensco and Pride amended the revolving credit facility so that the new $849.5 million exchangeable notes do not use up certain debt covenant capacity, and Ensco Jersey will guarantee the facility. The filing says all other terms of the revolver are unchanged. This follows the exchangeable notes sale from the prior week.
13 Dec 2016director interest notice● Neutral
Valaris Ltd Senior Vice President & CFO Jonathan Baksht exercised stock options for 1,067 shares and disposed of 1,497 shares.
12 Dec 2016capital raising announcement● NeutralMajor
Ensco sold $849.5 million of 3.00% exchangeable senior notes due 2024 (issued by its subsidiary Ensco Jersey Finance and guaranteed by Ensco) to institutional buyers, closing December 12, 2016, for net proceeds of about $825.0 million. The notes can be exchanged for Class A shares at an initial price of about $14.02 per share (71.3343 shares per $1,000), so they could add shares if exchanged, though Ensco may choose to pay cash or shares. Proceeds are meant to fund the cash portion of previously announced exchange offers for its 4.70% 2021 notes and Pride's 8.50% 2019 and 6.875% 2020 notes, to repurchase or refinance other debt, and for general corporate purposes. This also satisfies the financing condition for those exchange offers.
6 Dec 2016production update▼ Bad
Ensco's December 6, 2016 fleet status report shows DS-7 now available in Spain after TOTAL's termination took effect in early November 2016, with the same fee terms as October. Saudi Aramco jackup day rates for 2017 on several rigs (54, 76, 96, 97) are again being discussed with the customer, and ENSCO 8504 is now available in Singapore.
6 Dec 2016director interest notice● Neutral
Valaris Ltd Vice President - Finance Robert W Edwards III had 165 shares withheld for taxes on vesting stock.
5 Dec 2016director interest notice● Neutral
Valaris Ltd Vice President - Finance Robert W Edwards III had 445 shares withheld for taxes on vesting stock.
5 Dec 2016director interest notice● Neutral
Valaris Ltd Sr. VP - Western Hemisphere Gilles Luca exercised stock options for 1,486 shares and disposed of 1,848 shares.
5 Dec 2016director interest notice● Neutral
Valaris Ltd Sr. VP - Eastern Hemisphere Steven Joseph Brady had 2,284 shares withheld for taxes on vesting stock.
22 Nov 2016director interest notice● Neutral
Valaris Ltd EVP & Chief Operating Officer Patrick Carey Lowe had 10,281 shares withheld for taxes on vesting stock.
18 Nov 2016director interest notice● Neutral
Valaris Ltd Senior Vice President & CFO Jonathan Baksht had 4,233 shares withheld for taxes on vesting stock.
7 Nov 2016director interest notice● Neutral
Valaris Ltd EVP & Chief Operating Officer Patrick Carey Lowe had 1,221 shares withheld for taxes on vesting stock.
7 Nov 2016director interest notice● Neutral
Valaris Ltd Vice President - Finance Robert W Edwards III had 273 shares withheld for taxes on vesting stock.
27 Oct 2016quarterly activities report● Neutral
Valaris Ltd reported a quarterly net income of $85.3 million for the period ended 2016-09-30.
27 Oct 2016quarterly activities report● Neutral
Valaris Ltd reported a quarterly net income of $85.3 million for the period ended 2016-09-30.
13 Oct 2016production update▼ BadMajor
Ensco's October 13, 2016 fleet status report says TOTAL gave early termination notice on the ENSCO DS-7 contract, effective around late October 2016. Termination fees are about $585,000 a day for 90 days, then about $439,000 a day through November 2017, reduced by any income from re-contracting the rig. DS-3 is preparing for preservation stacking, and ENSCO 84 gets a Saudi Aramco extension to August 2021 at a low-70s rate.
4 Oct 2016debt financing▲ GoodMajor
Ensco extended the maturity of part of its revolving credit facility by one year, from September 30, 2019 to September 30, 2020. Commitments stay at $2.25 billion through September 2019 and are $1.13 billion for the extra year; all other terms are unchanged.
7 Sept 2016director interest notice● Neutral
Valaris Ltd Senior Vice President & CFO Jonathan Baksht had 1,061 shares withheld for taxes on vesting stock.
3 Aug 2016director interest notice● Neutral
Valaris Ltd Sr. Vice President - Technical John Stokes Knowlton had 161 shares withheld for taxes on vesting stock.
28 July 2016quarterly activities report● Neutral
Valaris Ltd reported a quarterly net income of $590.6 million for the period ended 2016-06-30.