Valaris Limited VAL

Company Overview

Valaris Limited is an offshore drilling contractor that provides drilling services to the global oil and gas industry. The company operates a fleet of offshore drilling rigs used in exploration, development, and production activities for energy companies, including major integrated oil companies, national oil companies, and independent operators. Valaris primarily operates in the offshore contract drilling market, with activities spanning ultra-deepwater, deepwater, and shallow-water environments. Its principal revenue drivers are long-term and short-term drilling contracts for its offshore rig fleet, including drillships, semisubmersibles, and jackup rigs.

The company was formed through the 2019 merger of Ensco plc and Rowan Companies plc, creating one of the world’s largest offshore drilling contractors by fleet size. Following a restructuring process completed in 2021, Valaris emerged with a strengthened balance sheet and renewed focus on operational efficiency, fleet optimization, and disciplined capital allocation. The company positions itself competitively through its modernized fleet, global operating experience, technical expertise in offshore drilling, and relationships with large international energy producers.