 | 華仕伯有限公司 艦隊狀態報告 2024年4月30日 | |||||||||||||
| 最新船隊狀態報告自2024年4月30日發佈以來的新合同、延長合同和其他更新 | ||
合同滯留 •華仕伯已獲得以下新合同和合同延期，相關合同積壓約爲$48000萬，在2024年2月15日發佈最新艦隊狀況報告後。合同積壓不包括諸如動員費和資本退還等總額支付。 •合同積壓從2024年2月15日約$39億增至約$40億。 浮式鑽井合同獎勵 •埃克森美孚爲博士船VALARIS DS-9行使了爲期六個月的定價選擇權。六個月的選擇將於2025年1月直接延續現有的固定計劃。 •海洋Equinor在巴西近海爲博士船VALARIS DS-17行使了爲期60天的定價選擇權。這60天的選擇預計將於2025年5月直接延續現有的固定合同。定價選擇期間的運營日租金約爲$497,000，包括MPD和額外服務。 升降鑽井合同獎勵 •華仕伯144號吊升鑽井平台在安哥拉海域簽訂了一份爲期13口井的合同。該合同預計將於2025年第二季度開始，估計持續時間在730天至770天之間。合同總價值預計介於14900萬美元和15600萬美元之間，包括來自美國墨西哥灣的動員費。 •TotalEnergies在英國北海爲重型惡劣環境吊升式鑽井平台華仕伯Stavanger行使了一項單井價格選項。該鑽井井作業預計持續30天，將被加入現有的固定計劃中，從而將合同總價值增加約400萬美元。 其他合同獎項 •在美國墨西哥灣爲BP管理的鑽井平台Mad Dog和Thunder Horse簽訂了爲期三年的合同延長合同。合同延長自2024年1月27日生效。爲期三年的延長期合同總價值約25900萬美元。 其他船隊狀態更新 •阿羅與沙特阿美簽訂的華仕伯143號吊升鑽井平台合同將被暫停，預計生效日期爲2024年5月。阿羅已通知沙特阿美在合同暫停日期後七天終止合同。合同終止後，華仕伯與阿羅之間的裸船租約協議也將終止，鑽機將歸還華仕伯。 •華仕伯收到了關於暫停華仕伯92號的通知，預計將於2025年2月26日生效，即運營商計劃工作範圍結束。該合同原計劃於2026年2月結束。 合同暫停將導致近3500萬美元的合同積壓減少。 | ||
第1頁，共15頁
| 華仕伯有限公司 艦隊狀態報告 2024年4月30日 | |||||||||||||
合同滯留(1) (2) （以百萬美元爲單位） | 2024 | 2025 | 2026+ | 總費用 | 簽約日(1) (2) | 2024 | 2025 | 2026+ | |||||||||||||||||||||
| 鑽井船 | $ | 720.9 | $ | 870.9 | $ | 632.1 | $ | 2,223.9 | 鑽井船 | 2,098 | 2,260 | 1,493 | |||||||||||||||||
| 半潛式鑽井平台 | 127.3 | 53.4 | — | 180.7 | 半潛式鑽井平台 | 548 | 240 | — | |||||||||||||||||||||
| 浮式鑽機 | $ | 848.2 | $ | 924.3 | $ | 632.1 | $ | 2,404.6 | 浮式鑽機 | 2,646 | 2,500 | 1,493 | |||||||||||||||||
| HD-惡劣環境 | $ | 257.8 | $ | 196.5 | $ | 152.7 | $ | 607.0 | HD - 惡劣環境 | 2,084 | 1,351 | 920 | |||||||||||||||||
| HD & SD - 現代化 | 147.0 | 154.5 | 147.6 | 449.1 | HD & SD - 現代化 | 1,384 | 1,095 | 967 | |||||||||||||||||||||
| SD - 傳統機型 | 39.5 | 35.2 | 54.1 | 128.8 | SD - 傳統機型 | 494 | 412 | 637 | |||||||||||||||||||||
| 自升式鑽井平台 | $ | 444.3 | $ | 386.2 | $ | 354.4 | $ | 1,184.9 | 自升式鑽井平台 | 3,962 | 2,858 | 2,524 | |||||||||||||||||
其他(3) | $ | 125.0 | $ | 142.1 | $ | 160.6 | $ | 427.7 | 其他(3) | 2,644 | 2,457 | 2,549 | |||||||||||||||||
| 總費用 | $ | 1,417.5 | $ | 1,452.6 | $ | 1,147.1 | $ | 4,017.2 | 總費用 | 9,252 | 7,815 | 6,566 | |||||||||||||||||
ARO鑽探(4) | 平均日費率(1) (2) | 2024 | 2025 | 2026+ | |||||||||||||||||||||||||
| 自有鑽井設備 | $ | 240.4 | $ | 362.0 | $ | 796.5 | $ | 1,398.9 | 鑽井船 | $ | 344,000 | $ | 385,000 | $ | 423,000 | ||||||||||||||
| 租賃鑽機 | 216.1 | 174.9 | 192.3 | 583.3 | 半潛式鑽井平台 | 232,000 | 223,000 | — | |||||||||||||||||||||
| 總費用 | $ | 456.5 | $ | 536.9 | $ | 988.8 | $ | 1,982.2 | 浮式鑽機 | $ | 321,000 | $ | 370,000 | $ | 423,000 | ||||||||||||||
| HD - 惡劣環境 | $ | 124,000 | $ | 145,000 | $ | 166,000 | |||||||||||||||||||||||
| HD & SD - 現代化 | 106,000 | 141,000 | 153,000 | ||||||||||||||||||||||||||
| SD - 傳統機型 | 80,000 | 85,000 | 85,000 | ||||||||||||||||||||||||||
| 自升式鑽井平台 | $ | 112,000 | $ | 135,000 | $ | 140,000 | |||||||||||||||||||||||
(1) 截至2024年4月30日，合同積壓、簽約日數和平均日租金。 （2）合同積壓和日均費率不包括某些非重複收入類型，例如總動員款。合同積壓和合同天數包括平台處於暫停期間的積壓和天數。日均費率已調整，不包括平台暫停積壓和天數。 (3) 其他代表與光船租賃協議和管理服務合同相關的合同積壓和簽約日數。 (4) ARO Drilling截至2024年4月30日的合同積壓。 HD = 重型；SD = 標準型 | |||||||||||||||||||||||||||||
第15頁/共15頁
| 華仕伯有限公司 艦隊狀態報告 2024年4月30日 | |||||||||||||
| 資產分類/鑽機 | 設計方面，考慮到Sonos對其揚聲器的關注，Sonos的第一個頭戴式耳機也對其設計進行了大量的優化。耳機外殼的形狀取自Move 2等設備，公司選擇了啞光塗層、不鏽鋼和素食皮革的混合材質來完成高端的外觀。對我來說，白色版看起來更高級，因爲銀色金屬飾條與黑色版的色調相比形成了對比。 | 交付年份 | 客戶 | 地點 | 合同開始日期 | 合同結束日期(1) | 日租金(2) | 評論 | ||||||||||||||||||||||||||||||||||||||||||
| 鑽井船 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| 華仕伯DS-18 | GustoMSC P10000 | 2015 | 雪佛龍 | 美國墨西哥灣 | 8月22日 | 8月25日 | 合同包括MPD服務。提供MPD服務時額外收費。 | |||||||||||||||||||||||||||||||||||||||||||
| 華仕伯DS-17 | GustoMSC P10000 | 2014 | equinor equinor | 巴西 / 阿根廷 巴西 | 9月23日 5月25日 | 4月25日 6月25日 | $447,000 $497,000 | 合同包括MPD和其他服務 | ||||||||||||||||||||||||||||||||||||||||||
| 華仕伯DS-16 | GustoMSC P10000 | 2014 | 西方石油 西方石油 | U.S. GOM U.S. GOM | 6月22日 6月24日 | 6月24日 6月26日 | 合同包括MPD服務。提供MPD服務時額外收費。再加一年的定價期權 | |||||||||||||||||||||||||||||||||||||||||||
| 華仕伯DS-15 | GustoMSC P10000 | 2014 | TotalEnergies BP TotalEnergies TotalEnergies | 巴西 巴西 巴西 巴西 | 6月21日 閱讀這裏的最新股票耳語指數報告：
17年5月
24年5月
31年5月 7月24日 11月24日 | 4月24日 7月24日 11月24日 7月25日 | $410,000 $254,000 $400,000 | 合同包括MPD服務。提供MPD服務時額外費用 提供MPD和額外服務時收取額外費用。兩個160天的定價期權和一個120天的定價期權，每個期權週期的運營日租金有所增加。如果行使期權期間的總合同價值，不包括提供MPD和額外服務，大約爲21000萬美元 | ||||||||||||||||||||||||||||||||||||||||||
| 華仕伯DS-12 | DSME 12000 | 2013 | BP | 埃及 | 1月24日 | 11月24日 | 合同總價值爲13600萬美元 | |||||||||||||||||||||||||||||||||||||||||||
| 華仕伯DS-10 | 三星GF12000 | 2017 | SNEPCo | 尼日利亞 | 4月23日 | 閱讀這裏的最新股票耳語指數報告： 17年5月 24年5月 31年5月 | $231,000 | |||||||||||||||||||||||||||||||||||||||||||
| 華仕伯DS-9 | 三星GF12000 | 2015 | 埃克森美孚 | 安哥拉 | 7月22日 | 7月25日 | 合同包括MPD服務。 兩個 6個月定價期權 | |||||||||||||||||||||||||||||||||||||||||||
| 華仕伯DS-8 | 三星GF12000 | 2015 | 巴西國家石油公司 | 巴西 | 2023年12月 | 12月26日 | $428,000 | 加上約3000萬美元的動員費。合同包括額外的服務 | ||||||||||||||||||||||||||||||||||||||||||
| 華仕伯DS-7 | 三星96K | 2013 | 未披露 | 西非 | 6月24日 | 9月26日 | 預計總合約價值爲36400萬美元。預計持續時間爲850天。鑽機正在西班牙重新啓用 | |||||||||||||||||||||||||||||||||||||||||||
| 華仕伯DS-4 | 三星96K | 2010 | 巴西國家石油公司 巴西國家石油公司 | 巴西 巴西 | 7月22日 12月24日 | 9月24日 11月27日 | $450,000 | 合同包括MPD和額外服務。預計合同準備工作需要大約90天，跨越2024年第3季度和第4季度 加上約4100萬美元的動員費。合同包括MPD和額外服務 | ||||||||||||||||||||||||||||||||||||||||||
| 靠放 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| 華仕伯DS-14 | DSME 12000 | 2023 | 西班牙 | 鑽井平台已抵達西班牙的拉斯帕爾馬斯。 在那裏它將被堆放直到簽約。 | ||||||||||||||||||||||||||||||||||||||||||||||
| 華仕伯DS-13 | DSME 12000 | 2023 | 西班牙 | 鑽機已抵達西班牙的拉斯帕爾馬斯。 在那裏，它將被堆放直至承包。 | ||||||||||||||||||||||||||||||||||||||||||||||
| 華仕伯DS-11 | DSME 12000 | 2013 | 西班牙 | |||||||||||||||||||||||||||||||||||||||||||||||
Page 3 of 15
| Valaris Limited Fleet Status Report April 30, 2024 | |||||||||||||
| Asset Category / Rig | Design | Year Delivered | Customer | Location | Contract Start Date | Contract End Date(1) | Day Rate(2) | Comments | ||||||||||||||||||||||||||||||||||||||||||
| Semisubmersibles | ||||||||||||||||||||||||||||||||||||||||||||||||||
VALARIS DPS-5 | ENSCO 8500 Series, DP + Moored | 2012 | Apache Eni | U.S. GOM Mexico | Dec 23 Mar 24 | Jan 24 Jun 24 | $345,000 | Plus $3 million mobilization fee | ||||||||||||||||||||||||||||||||||||||||||
VALARIS DPS-1 | F&G ExD Millennium, DP | 2012 | Woodside Woodside | Australia Australia | Apr 22 Jan 24 | Jan 24 Jun 25 | ||||||||||||||||||||||||||||||||||||||||||||
VALARIS MS-1 | F&G ExD Millennium, Moored | 2011 | Santos Santos | Australia Australia | Jul 22 Jan 24 | Jan 24 Mar 25 | Operations recommenced in Jan 24 following a suspension period. Three priced options each with an estimated duration of 45 days | |||||||||||||||||||||||||||||||||||||||||||
| Stacked | ||||||||||||||||||||||||||||||||||||||||||||||||||
| VALARIS DPS-6 | ENSCO 8500 Series, DP | 2012 | U.S. GOM | |||||||||||||||||||||||||||||||||||||||||||||||
| VALARIS DPS-3 | ENSCO 8500 Series, DP + Moored | 2010 | U.S. GOM | |||||||||||||||||||||||||||||||||||||||||||||||
Changes: bolded rig names and underlined text signify changes in rig status from previous fleet status report
Page 4 of 15
| Valaris Limited Fleet Status Report April 30, 2024 | |||||||||||||
| Asset Category / Rig | Design | Year Delivered | Customer | Location | Contract Start Date | Contract End Date(1) | Day Rate(2) | Comments | ||||||||||||||||||||||||||||||||||||||||||
| Heavy Duty - Harsh Environment Jackups | ||||||||||||||||||||||||||||||||||||||||||||||||||
| VALARIS Norway | KFELS N Class | 2011 | Eni | UK | Jan 24 | Jan 25 | VALARIS Norway substitutes for VALARIS 72 until the rig completes its current contract. Expect approx. 30 days out of service for planned maintenance in 1Q25 | |||||||||||||||||||||||||||||||||||||||||||
| VALARIS Stavanger | KFELS N Class | 2011 | TotalEnergies | UK | May 24 | May 25 | Total contract value of approx. $52 million including minor rig modifications. Two priced options with an estimated duration of 270 days each | |||||||||||||||||||||||||||||||||||||||||||
| VALARIS 250 | LT Super Gorilla XL | 2003 | Saudi Aramco | Saudi Arabia | Jun 18 | Dec 24 | Leased to ARO Drilling(4). Expect approx. 10 days out of service for planned maintenance in 3Q24 | |||||||||||||||||||||||||||||||||||||||||||
| VALARIS 249 | LT Super Gorilla | 2001 | Undisclosed Undisclosed Perenco Undisclosed | Trinidad Trinidad Trinidad Trinidad | Jul 23 Aug 24 Oct 24 Dec 24 | Jul 24 Oct 24 Dec 24 Oct 25 | $125,000 $138,000 $163,000 | Plus mobilization fee of $8.5 million and a daily rate of $64,000 while the rig was in transit from New Zealand to Trinidad | ||||||||||||||||||||||||||||||||||||||||||
| VALARIS 248 | LT Super Gorilla | 2000 | Neptune | UK | Aug 20 | Jan 25 | Expect approx. 50 days out of service for planned maintenance in 1Q25. | |||||||||||||||||||||||||||||||||||||||||||
| VALARIS 247 | LT Super Gorilla | 1998 | Perenco Undisclosed Eni | UK Australia Australia | Mar 23 Jun 24 Sep 24 | Jan 24 Sep 24 Nov 24 | $180,000 $180,000 | Expect approx. 60 days out of service for mobilization and contract preparations in 2Q24 Plus mobilization and demobilization fees that cover moving and operating costs while the rig is in transit | ||||||||||||||||||||||||||||||||||||||||||
| VALARIS 123 | KFELS Super A | 2019 | Ithaca Energy Shell TAQA TAQA | UK UK Netherlands Netherlands | Apr 24 Jun 24 Nov 24 Jan 25 | Jun 24 Nov 24 Dec 24 Jun 25 | $143,000 $153,000 | Minimum total contract value of $6.3 million. Expect approx. 15 days out of service for contract preparations in 2Q24 Estimated total contract value of approx. $21 million Options for up to 10 wells with an estimated total duration of 300 days. Operating day rate increases to approx. $163,000 in 2026 | ||||||||||||||||||||||||||||||||||||||||||
| VALARIS 122 | KFELS Super A | 2013 | Shell | UK | Sep 23 | May 25 | Total contract value of over $60 million based on initial estimated duration of 500 days. Expect approx. 20 days out of service for planned maintenance in 3Q24 | |||||||||||||||||||||||||||||||||||||||||||
| VALARIS 121 | KFELS Super A | 2013 | Shell Shell | UK UK | Nov 23 Aug 24 | Aug 24 Oct 25 | Total contract value of over $25 million. Total contract value of approx. $55 million. Plus two priced options | |||||||||||||||||||||||||||||||||||||||||||
| VALARIS 120 | KFELS Super A | 2013 | Harbour Energy Harbour Energy | UK | Jul 23 Jul 25 | Jul 25 Jul 28 | $130,000 $166,000 | Expect approx. 15 days out of service for planned maintenance in 3Q24 | ||||||||||||||||||||||||||||||||||||||||||
| Stacked | ||||||||||||||||||||||||||||||||||||||||||||||||||
| VALARIS Viking | KFELS N Class | 2010 | UK | |||||||||||||||||||||||||||||||||||||||||||||||
| VALARIS 102 | KFELS MOD V-A | 2002 | U.S. GOM | |||||||||||||||||||||||||||||||||||||||||||||||
Changes: bolded rig names and underlined text signify changes in rig status from previous fleet status report
Page 5 of 15
| Valaris Limited Fleet Status Report April 30, 2024 | |||||||||||||
| Asset Category / Rig | Design | Year Delivered | Customer | Location | Contract Start Date | Contract End Date(1) | Day Rate(2) | Comments | ||||||||||||||||||||||||||||||||||||||||||
Heavy Duty - Modern Jackups(3) | ||||||||||||||||||||||||||||||||||||||||||||||||||
| VALARIS 118 | LT 240-C | 2012 | BP BP | Trinidad Trinidad | Jul 23 Apr 24 | Apr 24 Apr 25 | Total contract value of approx. $24 million Total contract value of approx. $51 million | |||||||||||||||||||||||||||||||||||||||||||
| VALARIS 117 | LT 240-C | 2009 | Eni | Mexico | Dec 21 | Jan 25 | Expect approx. 30 days out of service for planned maintenance in 1Q25 | |||||||||||||||||||||||||||||||||||||||||||
| VALARIS 116 | LT 240-C | 2008 | Saudi Aramco | Saudi Arabia | Dec 18 | Dec 24 | Leased to ARO Drilling(4). Expect approx. 10 days out of service for planned maintenance in 3Q24 | |||||||||||||||||||||||||||||||||||||||||||
| VALARIS 115 | BM Pacific Class 400 | 2013 | Shell | Brunei | Apr 23 | Apr 27 | Total contract value of approx. $159 million | |||||||||||||||||||||||||||||||||||||||||||
| VALARIS 110 | KFELS MOD V-B | 2015 | North Oil Company | Qatar | Oct 21 | Oct 24 | Two 1-year priced options | |||||||||||||||||||||||||||||||||||||||||||
| VALARIS 108 | KFELS MOD V-B | 2007 | Saudi Aramco | Saudi Arabia | Mar 24 | Mar 27 | Leased to ARO Drilling(4) | |||||||||||||||||||||||||||||||||||||||||||
| VALARIS 107 | KFELS MOD V-B | 2006 | Beach Energy Undisclosed ExxonMobil | New Zealand Australia Australia | Oct 23 Mar 24 Oct 24 | Jan 24 Sep 24 Oct 25 | $150,000 $153,000 | Total contract value of approx. $26 million, including mobilization and demobilization fee Two 180-day priced options | ||||||||||||||||||||||||||||||||||||||||||
| VALARIS 106 | KFELS MOD V-B | 2005 | BP BP | Indonesia Indonesia | Jan 24 Jan 25 | Oct 24 Mar 25 | $85,000 $95,000 | Two priced options each with an estimated duration of 90 days. Expect approx. 90 days out of service for planned maintenance in 4Q24 | ||||||||||||||||||||||||||||||||||||||||||
| Stacked | ||||||||||||||||||||||||||||||||||||||||||||||||||
| VALARIS 111 | KFELS MOD V-B | 2003 | Croatia | |||||||||||||||||||||||||||||||||||||||||||||||
| VALARIS 109 | KFELS MOD V-Super B | 2008 | Namibia | |||||||||||||||||||||||||||||||||||||||||||||||
| VALARIS 104 | KFELS MOD V-B | 2002 | UAE | |||||||||||||||||||||||||||||||||||||||||||||||
Changes: bolded rig names and underlined text signify changes in rig status from previous fleet status report
Page 6 of 15
| Valaris Limited Fleet Status Report April 30, 2024 | |||||||||||||
| Asset Category / Rig | Design | Year Delivered | Customer | Location | Contract Start Date | Contract End Date(1) | Day Rate(2) | Comments | ||||||||||||||||||||||||||||||||||||||||||
Standard Duty - Modern Jackups(3) | ||||||||||||||||||||||||||||||||||||||||||||||||||
| VALARIS 148 | LT Super 116-E | 2013 | Saudi Aramco | Saudi Arabia | Nov 19 | Feb 26 | Leased to ARO Drilling(4) | |||||||||||||||||||||||||||||||||||||||||||
| VALARIS 147 | LT Super 116-E | 2013 | Saudi Aramco | Saudi Arabia | Sep 19 | Dec 25 | Leased to ARO Drilling(4). Expect approx. 30 days out of service for planned maintenance in 3Q24 | |||||||||||||||||||||||||||||||||||||||||||
| VALARIS 146 | LT Super 116-E | 2011 | Saudi Aramco | Saudi Arabia | Sep 18 | Dec 24 | Leased to ARO Drilling(4). Expect approx. 25 days out of service for planned maintenance across 2Q24 and 3Q24 | |||||||||||||||||||||||||||||||||||||||||||
| VALARIS 144 | LT Super 116-E | 2010 | Talos Undisclosed | U.S. GOM Angola | Dec 23 Apr 25 | Apr 24 May 27 | $87,000 | Expect approx. 140 days out of service for contract preparations and mobilization across 4Q24 and 1Q25 Total contract value estimated to be between $149 million and $156 million, including a mobilization fee from the U.S. Gulf of Mexico | ||||||||||||||||||||||||||||||||||||||||||
| VALARIS 143 | LT Super 116-E | 2010 | Saudi Aramco | Saudi Arabia | Oct 18 | May 24 | Contract suspended with an expected effective date in May 2024. The contract was previously scheduled to end in Dec 2024 | |||||||||||||||||||||||||||||||||||||||||||
| VALARIS 141 | LT Super 116-E | 2016 | Saudi Aramco | Saudi Arabia | Aug 22 | Aug 25 | Leased to ARO Drilling(4) | |||||||||||||||||||||||||||||||||||||||||||
| VALARIS 140 | LT Super 116-E | 2016 | Saudi Aramco | Saudi Arabia | Mar 22 | Mar 25 | Leased to ARO Drilling(4). Expect approx. 10 days out of service for planned maintenance in 3Q24 | |||||||||||||||||||||||||||||||||||||||||||
| VALARIS 76 | LT Super 116-C | 2000 | Saudi Aramco | Saudi Arabia | Jul 24 | Jun 29 | Expect approx. 90 days out of service for contract preparations in 2Q24 | |||||||||||||||||||||||||||||||||||||||||||
| Stacked | ||||||||||||||||||||||||||||||||||||||||||||||||||
| VALARIS 145 | LT Super 116-E | 2010 | U.S. GOM | |||||||||||||||||||||||||||||||||||||||||||||||
| VALARIS 75 | LT Super 116-C | 1999 | U.S. GOM | |||||||||||||||||||||||||||||||||||||||||||||||
Changes: bolded rig names and underlined text signify changes in rig status from previous fleet status report
Page 7 of 15
| Valaris Limited Fleet Status Report April 30, 2024 | |||||||||||||
| Asset Category / Rig | Design | Year Delivered | Customer | Location | Contract Start Date | Contract End Date(1) | Day Rate(2) | Comments | ||||||||||||||||||||||||||||||||||||||||||
| Standard Duty - Legacy Jackups | ||||||||||||||||||||||||||||||||||||||||||||||||||
| VALARIS 92 | LT 116-C | 1982 | Harbour Energy Harbour Energy | UK UK | Feb 17 Mar 24 | Feb 24 Feb 25 | $95,000 | Contract suspended with an estimated effective date of Feb 26, 2025. The contract was previously scheduled to end in Feb 2026 | ||||||||||||||||||||||||||||||||||||||||||
| VALARIS 72 | Hitachi K1025N | 1981 | Eni Eni | UK UK | Jan 20 Feb 25 | Jan 25 Sep 27 | ||||||||||||||||||||||||||||||||||||||||||||
| Other - Managed Rigs | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Thunder Horse | Deepwater Semisubmersible | BP | U.S. GOM | Jan 17 Jan 24 | Jan 24 Jan 27 | Total contract value of approx. $153 million | ||||||||||||||||||||||||||||||||||||||||||||
| Mad Dog | Deepwater Spar Drilling Rig | BP | U.S. GOM | Jan 17 Jan 24 | Jan 24 Jan 27 | Total contract value of approx. $106 million | ||||||||||||||||||||||||||||||||||||||||||||
Changes: bolded rig names and underlined text signify changes in rig status from previous fleet status report
Page 8 of 15
| Valaris Limited Fleet Status Report April 30, 2024 | |||||||||||||
| Asset Category / Rig | Design | Customer | Location | Contract Start Date | Contract End Date(1) | Day Rate(2) | Comments | |||||||||||||||||||||||||||||||||||||
| ARO Drilling | ||||||||||||||||||||||||||||||||||||||||||||
| Jackup Rigs Owned by ARO Drilling | ||||||||||||||||||||||||||||||||||||||||||||
| Gilbert Rowe | LT 116-C | Saudi Aramco | Saudi Arabia | Oct 17 | Jan 26 | |||||||||||||||||||||||||||||||||||||||
| SAR 201 | BM 200-H | Saudi Aramco | Saudi Arabia | Feb 18 | Feb 26 | Expect approx. 45 days out of service for planned maintenance across 3Q24 and 4Q24 | ||||||||||||||||||||||||||||||||||||||
| Bob Keller | LT Tarzan 225-C | Saudi Aramco | Saudi Arabia | Oct 17 | Jan 26 | |||||||||||||||||||||||||||||||||||||||
| J.P. Bussell | LT Tarzan 225-C | Saudi Aramco | Saudi Arabia | Oct 17 | Jan 26 | Expect approx. 60 days out of service for planned maintenance in 2Q24 | ||||||||||||||||||||||||||||||||||||||
| Scooter Yeargain | LT Tarzan 225-C | Saudi Aramco | Saudi Arabia | Oct 18 | Dec 26 | Expect approx. 15 days out of service for planned maintenance in 2Q24 | ||||||||||||||||||||||||||||||||||||||
| Hank Boswell | LT Tarzan 225-C | Saudi Aramco | Saudi Arabia | Oct 18 | Dec 26 | |||||||||||||||||||||||||||||||||||||||
| SAR 202 | KFELS Super B | Saudi Aramco | Saudi Arabia | Oct 17 | Jan 26 | |||||||||||||||||||||||||||||||||||||||
| Kingdom 1 | LT 116-C | Saudi Aramco | Saudi Arabia | Nov 23 | Nov 31 | |||||||||||||||||||||||||||||||||||||||
| Kingdom 2 | LT 116-C | Saudi Aramco | Saudi Arabia | May 24 | May 32 | Under construction. Delivery expected in 2Q24 | ||||||||||||||||||||||||||||||||||||||
Changes: bolded rig names and underlined text signify changes in rig status from previous fleet status report
(1) Contract duration does not include any unexercised optional extensions. Contract end dates can vary based on how long it takes to complete the wells subject to the contract.
(2) Day rates are reported to the nearest thousand and reflect the operating day rates charged to customers, excluding certain types of non-recurring revenues such as lump sum mobilization payments. Day rates are provided unless such disclosures are restricted by confidentiality provisions.
(3) Heavy duty jackups are well-suited for operations in tropical revolving storm areas.
(4) Rigs leased to ARO Drilling via bareboat charter agreements to fulfill contracts between ARO Drilling and Saudi Aramco.
Page 9 of 15
| Valaris Limited Fleet Status Report April 30, 2024 | |||||||||||||
Out of Service Days (1) | ||||||||||||||||||||||||||||||||
| Rig | Asset Category | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | |||||||||||||||||||||||||||
| VALARIS DS-4 | Floater - Drillship | 10 | 80 | |||||||||||||||||||||||||||||
| VALARIS Norway | Jackup - Heavy Duty Harsh Environment | 30 | ||||||||||||||||||||||||||||||
| VALARIS 250 | Jackup - Heavy Duty Harsh Environment (Leased to ARO Drilling) | 10 | ||||||||||||||||||||||||||||||
| VALARIS 248 | Jackup - Heavy Duty Harsh Environment | 50 | ||||||||||||||||||||||||||||||
| VALARIS 247 | Jackup - Heavy Duty Harsh Environment | 60 | 30 | |||||||||||||||||||||||||||||
| VALARIS 123 | Jackup - Heavy Duty Harsh Environment | 15 | ||||||||||||||||||||||||||||||
| VALARIS 122 | Jackup - Heavy Duty Harsh Environment | 20 | ||||||||||||||||||||||||||||||
| VALARIS 120 | Jackup - Heavy Duty Harsh Environment | 15 | ||||||||||||||||||||||||||||||
| VALARIS 117 | Jackup - Heavy Duty Modern | 30 | ||||||||||||||||||||||||||||||
| VALARIS 116 | Jackup - Heavy Duty Modern (Leased to ARO Drilling) | 10 | ||||||||||||||||||||||||||||||
| VALARIS 106 | Jackup - Heavy Duty Modern | 90 | ||||||||||||||||||||||||||||||
| VALARIS 147 | Jackup - Standard Duty Modern (Leased to ARO Drilling) | 30 | ||||||||||||||||||||||||||||||
| VALARIS 146 | Jackup - Standard Duty Modern (Leased to ARO Drilling) | 15 | 10 | |||||||||||||||||||||||||||||
| VALARIS 144 | Jackup - Standard Duty Modern | 50 | 90 | |||||||||||||||||||||||||||||
| VALARIS 140 | Jackup - Standard Duty Modern (Leased to ARO Drilling) | 10 | ||||||||||||||||||||||||||||||
| VALARIS 76 | Jackup - Standard Duty Modern (Leased to ARO Drilling) | 90 | ||||||||||||||||||||||||||||||
(1) Table shows expected out of service days for planned maintenance, e.g. special periodic surveys and contract preparation, excluding rigs undergoing reactivation projects. Excludes ARO owned rigs.
Page 10 of 15
Page 11 of 15
Page 12 of 15
Page 13 of 15
Page 14 of 15
| Valaris Limited Fleet Status Report April 30, 2024 | |||||||||||||
Additional Information Regarding this Fleet Status Report
Day Rate and Terms. The day rates reflected in this Fleet Status Report are stated in U.S. dollars and include the operating day rates charged to customers, which may include estimated contractual adjustments for changes in operating costs and/or reimbursable cost adjustments for ongoing expenses such as crew, catering, insurance and taxes. The day rates, however, do not include certain types of non-recurring revenues such as lump sum mobilization payments, revenues earned during mobilizations, revenues associated with contract preparation and other non-recurring reimbursable items such as mobilizations and capital enhancements, and the impact of the fair market value adjustments to previously acquired drilling contracts that are recognized during the contract term. Routine and non-routine downtime may reduce the actual revenues recognized during the contract term. Additionally, we sometimes negotiate special rates and/or day rate adjustments with customers that may reduce revenues recognized.
Total Contract Value. Total contract value is the estimated total compensation expected to be received for a contract, including the operating day rate over the estimated firm term of the contract and any non-recurring lump sum payments for items such as mobilization, reactivation and capital upgrades.
Forward-Looking Statements. Statements contained in this Fleet Status Report that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include words or phrases such as "anticipate," "believe," "estimate," "expect," "intend," "likely," "plan," "project," "could," "may," "might," "should," "will" and similar words and specifically include statements regarding expected financial performance; expected utilization, day rates, revenues, operating expenses, cash flows, contract status, terms and duration, contract backlog, capital expenditures, insurance, financing and funding; the offshore drilling market, including supply and demand, customer drilling programs and the attainment of requisite permits for such programs, stacking of rigs, effects of new rigs on the market and effect of the volatility of commodity prices; expected work commitments, awards, contracts and letters of intent; scheduled delivery dates for rigs; performance of our joint ventures, including our joint venture with Saudi Aramco; timing of the delivery of the Saudi Aramco Rowan Offshore Drilling Company ("ARO") newbuild rigs and the timing of additional newbuild orders; the availability, delivery, mobilization, contract commencement, availability, relocation or other movement of rigs and the timing thereof; rig reactivations; suitability of rigs for future contracts; divestitures of assets; general economic, market, business and industry conditions, including inflation and recessions, trends and outlook; general political conditions, including political tensions, conflicts and war; cybersecurity attacks and threats; impacts and effects of public health crises, pandemics and epidemics; future operations; ability to renew expiring contracts or obtain new contracts, including for VALARIS DS-13 and DS-14; increasing regulatory complexity; targets, progress, plans and goals related to sustainability matters; the outcome of tax disputes; assessments and settlements; and expense management. The forward-looking statements contained in this Fleet Status Report are subject to numerous risks, uncertainties and assumptions that may cause actual results to vary materially from those indicated, including cancellation, suspension, renegotiation or termination of drilling contracts and programs; our ability to obtain financing, service our debt, fund capital expenditures and pursue other business opportunities; adequacy of sources of liquidity for us and our customers; future share repurchases; actions by regulatory authorities, or other third parties; actions by our security holders; internal control risk; commodity price fluctuations and volatility, customer demand, loss of a significant customer or customer contract, downtime and other risks associated with offshore rig operations; adverse weather, including hurricanes; changes in worldwide rig supply, including as a result of reactivations and newbuilds; and demand, competition and technology; supply chain and logistics challenges; consumer preferences for alternative fuels and forecasts or expectations regarding the global energy transition; increased scrutiny of our sustainability targets, initiatives and reporting and our ability to achieve such targets or initiatives; changes in customer strategy; future levels of offshore drilling activity; governmental action, civil unrest and political and economic uncertainties, including recessions, volatility affecting the banking system and financial markets, inflation and adverse changes in the level of international trade activity; terrorism, piracy and military action; risks inherent to shipyard rig reactivation, upgrade, repair, maintenance or enhancement; our ability to enter into, and the terms of, future drilling contracts; suitability of rigs for future contracts; the cancellation of letters of intent or letters of award or any failure to execute definitive contracts following announcements of letters of intent, letters of award or other expected work commitments; the outcome of litigation, legal proceedings, investigations or other claims or contract disputes; governmental regulatory, legislative and permitting requirements affecting drilling operations; our ability to attract and retain skilled personnel on commercially reasonable terms; environmental or other liabilities, risks or losses; compliance with our debt agreements and debt restrictions that may limit our liquidity and flexibility; cybersecurity risks and threats; and changes in foreign currency exchange rates. In addition to the numerous factors described above, you should also carefully read and consider "Item 1A. Risk Factors" in Part I and "Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations" in Part II of our most recent annual report on Form 10-K, which is available on the Securities and Exchange Commission's website at www.sec.gov or on the Investor Relations section of our website at www.valaris.com. Each forward-looking statement speaks only as of the date of the particular statement, and we undertake no obligation to update or revise any forward-looking statements, except as required by law.
Page 15 of 15
