17 June 2024director interest notice● Neutral
Valaris Ltd director Kristian Johansen received a stock option grant for 2,464 shares.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
17 June 2024director interest notice● Neutral
Valaris Ltd director James W Swent III received 3,130 shares as part of the equity award.
17 June 2024director interest notice● Neutral
Valaris Ltd director Deepak Munganahalli received a stock option grant for 2,863 shares.
17 June 2024director interest notice● Neutral
Valaris Ltd director Joseph Goldschmid received 2,997 shares as part of the equity award.
17 June 2024director interest notice● Neutral
Valaris Ltd director Dick Fagerstal received a stock option grant for 3,130 shares.
17 June 2024director interest notice● Neutral
Valaris Ltd director Catherine Hughes received 2,730 shares as part of the equity award.
17 June 2024director interest notice● Neutral
Valaris Ltd director Elizabeth Leykum received a stock option grant for 3,862 shares.
11 June 2024director interest notice● Neutral
Valaris Ltd director Catherine Hughes had 501 shares withheld for taxes on vesting stock.
11 June 2024director interest notice● Neutral
Valaris Ltd director Deepak Munganahalli had 114 shares withheld for taxes on vesting stock.
2 May 2024quarterly activities report● Neutral
Valaris Ltd reported quarterly revenue of $525.0 million and net income of $25.5 million for the period ended 2024-03-31.
2 May 2024quarterly activities report● Neutral
Valaris Ltd reported quarterly revenue of $525.0 million and net income of $25.5 million for the period ended 2024-03-31.
1 May 2024production update● Neutral
Valaris's Apr 30, 2024 fleet report shows backlog of about $4.0B, up from about $3.9B in February, with about $480M of new awards. These include a 13-well Angola contract for jackup 144 (about $149M-$156M) and three-year BP extensions for managed rigs Mad Dog and Thunder Horse (about $259M combined). Two negatives: ARO's Saudi Aramco contract for jackup 143 will be suspended and terminated, so the rig returns to Valaris, and jackup 92 has a suspension notice from Feb 2025, cutting backlog by about $35M. DS-13 and DS-14 have arrived in Las Palmas, Spain, and are stacked.
3 Apr 2024director interest notice● Neutral
Valaris Ltd Controller Melissa Barron received 159 shares as part of the equity award.
7 Mar 2024director interest notice● Neutral
Valaris Ltd SVP - COO Gilles Luca received 6,321 shares as part of the equity award.
7 Mar 2024director interest notice● Neutral
Valaris Ltd SVP & General Counsel Davor Vukadin received 3,678 shares as part of the equity award.
7 Mar 2024director interest notice● Neutral
Valaris Ltd SVP - CCO Matthew Lyne received 6,321 shares as part of the equity award.
7 Mar 2024director interest notice● Neutral
Valaris Ltd SVP - CFO Christopher T Weber received 6,321 shares as part of the equity award.
7 Mar 2024director interest notice● Neutral
Melissa Barron became a Valaris Ltd Controller and company insider (initial ownership filing).
7 Mar 2024director interest notice● Neutral
Valaris Ltd President & CEO Anton Dibowitz received 17,775 shares as part of the equity award.
16 Feb 2024production update▲ GoodMajor
Valaris's Feb 15, 2024 fleet report shows backlog up to more than $3.9B from about $3.2B on Nov 1, 2023, with about $1.2B of new awards since then. These include a 1,064-day Petrobras contract for DS-4 (about $519M) and a two-year Occidental extension for DS-16. It also confirms the company exercised its options and took delivery of DS-13 and DS-14 for about $337M in total; they are being moved to Las Palmas, Spain, to be stacked until contracted. This closes the purchase thread that was open at year-end 2023.
8 Feb 2024substantial holder notice● Neutral
BlackRock, Inc reported a Valaris Ltd shareholding of 7,364,239 shares (10.10% of votes) in a periodic institutional filing.
6 Dec 2023substantial holder notice● Neutral
BlackRock, Inc reported a Valaris Ltd shareholding of 7,303,034 shares (10.00% of votes) in a periodic institutional filing.
7 Nov 2023quarterly activities report● Neutral
Valaris Ltd reported quarterly revenue of $455.1 million and net income of $12.9 million for the period ended 2023-09-30.
7 Nov 2023quarterly activities report● Neutral
Valaris Ltd reported quarterly revenue of $455.1 million and net income of $12.9 million for the period ended 2023-09-30.
1 Nov 2023production update▲ Good
Valaris published its November 1, 2023 fleet status report. Backlog rose to about $3.2B from about $3.0B on August 1, with roughly $480M from new awards and extensions, including a DS-15 extension with TotalEnergies in Brazil ($100M firm), a Petrobras option on DS-4 (~$41M) and a 55-well Eni plug-and-abandonment contract for jackup 72. The DS-13 and DS-14 purchase options are still listed as open to year-end 2023.
21 Aug 2023debt financing● NeutralMajor
Valaris closed the $400M add-on of 8.375% second lien notes due 2030 on August 21, 2023, issued at 100.75% of par for net proceeds of about $396M. The notes form one series with the $700M issued in April, bringing the total to $1.1B (inference from the two amounts). This completes the financing announced August 7.
9 Aug 2023director interest notice● Neutral
Valaris Ltd VP - Controller Colleen Grable sold 5,034 shares at $75.00.
9 Aug 2023director interest notice● Neutral
Valaris Ltd 10%+ owner Oak Hill Advisors LP sold 4,200,000 shares at $73.10.
9 Aug 2023substantial holder notice● Neutral
Oak Hill Advisors, L.P reported a Valaris Ltd shareholding of 4,766,016 shares (6.48% of votes) in a periodic institutional filing.
8 Aug 2023capital raising announcement● NeutralMajor
The offer was priced and upsized from $350M to $400M of additional 8.375% second lien notes due 2030, issued at 100.75% of par, for net proceeds of about $396M; closing was expected August 21, 2023. Use of proceeds is unchanged: buying DS-13 and DS-14 (about $337M) and general corporate purposes. This adds to Valaris's debt.