2 Aug 2022quarterly activities report● Neutral
Valaris Ltd reported quarterly revenue of $413.3 million and net income of $111.6 million for the period ended 2022-06-30.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
28 July 2022production update▼ BadMajor
Valaris's July 28, 2022 fleet status report says the DS-11 contract, previously counted as about $428 million of backlog (and moved from TotalEnergies to Equinor in March 2022), was terminated effective end of June. The filing does not state a reason. New work includes a 540-day Equinor contract for DS-17 offshore Brazil worth about $327 million (including about $86 million upfront), starting mid-2023, and a four-year Brunei Shell contract for jackup 115 worth about $159 million from April 2023. Rig 36 was sold for $9 million. Total backlog is $2,349.3 million, down from $2,453.4 million in May, plus $467.5 million as Valaris's 50% share of ARO Drilling's owned rigs (adjusted total $2,816.8 million).
21 July 2022director interest notice● Neutral
Valaris Ltd Interim CFO and VP Darin Gibbins had 1,202 shares withheld for taxes on vesting stock.
21 July 2022director interest notice● Neutral
Valaris Ltd Senior Vice President & COO Gilles Luca received a stock option grant for 5,632 shares.
21 July 2022director interest notice● Neutral
Valaris Ltd VP - Controller Colleen Grable had 1,002 shares withheld for taxes on vesting stock.
21 July 2022director interest notice● Neutral
Valaris Ltd President & CEO Anton Dibowitz acquired 16,557 shares and disposed of 1,143 in a set of related equity transactions.
21 July 2022director interest notice● Neutral
Valaris Ltd SVP & General Counsel Davor Vukadin had 798 shares withheld for taxes on vesting stock.
8 July 2022director interest notice● Neutral
Valaris Ltd Controller Colleen Grable received 5,202 shares as part of the equity award.
8 July 2022director interest notice● Neutral
Valaris Ltd Interim CFO and VP Darin Gibbins received 5,898 shares as part of the equity award.
17 June 2022director interest notice● Neutral
Valaris Ltd President & CEO Anton Dibowitz had 1,050 shares withheld for taxes on vesting stock.
14 June 2022securities registration● Neutral
Valaris Ltd amended its automatic shelf registration statement.
13 June 2022director interest notice● Neutral
Valaris Ltd 10%+ owner Oak Hill Advisors LP received 3,068 shares as part of the equity award.
13 June 2022director interest notice● Neutral
Valaris Ltd director Gunnar W. Eliassen received 3,068 shares as part of the equity award.
13 June 2022director interest notice● Neutral
Valaris Ltd director Deepak Munganahalli received 3,068 shares as part of the equity award.
13 June 2022director interest notice● Neutral
Valaris Ltd director James W Swent III received 3,068 shares as part of the equity award.
13 June 2022director interest notice● Neutral
Valaris Ltd director Elizabeth Leykum received 4,383 shares as part of the equity award.
13 June 2022director interest notice● Neutral
Valaris Ltd director Dick Fagerstal received 3,068 shares as part of the equity award.
13 June 2022director interest notice● Neutral
Valaris Ltd director Joseph Goldschmid received 3,068 shares as part of the equity award.
10 June 2022director interest notice● Neutral
Valaris Ltd President & CEO Anton Dibowitz had 1,341 shares withheld for taxes on vesting stock.
10 June 2022director interest notice● Neutral
Gunnar W. Eliassen became a Valaris Ltd director and company insider (initial ownership filing).
6 June 2022substantial holder notice● Neutral
Famatown Finance Limited, Greenwich Holdings Limited, C.K. Limited* reported a Valaris Ltd shareholding of 5,390,153 shares (7.19% of votes) in a periodic institutional filing.
2 June 2022director interest notice● Neutral
Valaris Ltd SVP & General Counsel Davor Vudakin received 5,347 shares and a 22,452-share option grant as part of the equity award.
2 June 2022director interest notice● Neutral
Davor Vudakin became a Valaris Ltd SVP & General Counsel and company insider (initial ownership filing).
2 June 2022director interest notice● Neutral
Valaris Ltd Controller Colleen Grable received 2,445 shares as part of the equity award.
3 May 2022quarterly activities report▼ Bad
Valaris Ltd reported quarterly revenue of $318.4 million and a net loss of $38.6 million for the period ended 2022-03-31.
3 May 2022quarterly activities report▼ Bad
Valaris Ltd reported quarterly revenue of $318.4 million and a net loss of $38.6 million for the period ended 2022-03-31.
2 May 2022production update▲ Good
Valaris filed its routine fleet status report as of May 2, 2022. It lists a two-well Angola/Congo contract for DS-12 worth $26.2 million, extensions for DS-15 and others, and two-year BP extensions for the managed rigs Mad Dog and Thunder Horse. The DS-11 eight-well US Gulf of Mexico contract was moved from TotalEnergies to Equinor in March 2022 with no material changes, and about $428 million of backlog relates to it. Rigs 113 and 114 were sold to ADES Saudi Limited for a total of $125 million, rig 67 was sold and retired, and Valaris says it will now disclose day rates for new contracts. Total backlog is $2,453.4 million, plus $496.8 million as Valaris's 50% share of ARO Drilling's owned rigs (adjusted total $2,950.2 million).
7 Mar 2022securities registration● Neutral
Valaris Ltd filed an automatic shelf registration, effective immediately as a well-known seasoned issuer.
7 Mar 2022securities registration● Neutral
Valaris Ltd amended an already-effective registration statement.
14 Feb 2022substantial holder notice● Neutral
Lodbrok Capital LLP disclosed a new substantial Valaris Ltd shareholding (6.16% of votes).