Nov 2, 4:16 PM ET
Valaris furnished a fleet status report dated November 2, 2026, showing contract backlog of approximately $4.8 billion, up from $4.6 billion as of August 5, 2026. New awards and extensions since the last report added about $600 million, including a three-year bp service contract that adds about $290 million.
- Contract backlog is approximately $4.8 billion, up from $4.6 billion as of August 5, 2026
- Three-year bp service contract for Mad Dog and Thunder Horse platforms adds about $290 million
- Semisubmersible VALARIS MS-1 was sold for recycling; jackup VALARIS 111 was sold to another buyer for conversion to a mobile offshore production unit
Read the filing on SEC.gov ↗
Nov 2, 4:15 PM ET
Valaris reported third quarter 2026 total operating revenues of $594 million, up from $539 million in the second quarter, and adjusted EBITDA of $151 million, up from $97 million. Net income of $47 million was roughly flat, and diluted earnings per share fell to $0.66 from $0.72. The company said its pending business combination with Transocean has received the required regulatory approvals and is expected to close on or about December 1, 2026, and that it does not plan to hold future earnings calls or update forward-looking guidance.
- Total operating revenues $593.6 million vs. $539.2 million in Q2 2026; net income $46.7 million vs. $47.0 million
- Diluted EPS $0.66 vs. $0.72 in Q2 2026; net income attributable to Valaris $46.1 million vs. $50.4 million
- Middle East conflicts reduced adjusted EBITDA by about $24 million in Q3 2026, compared with $30 million in Q2 2026
- Transocean combination expected to close on or about December 1, 2026; no future earnings calls or guidance updates planned
Read the filing on SEC.gov ↗
Oct 23, 5:00 PM ET
Valaris and Transocean filed a joint proxy statement on October 14, 2026 for the planned Transocean acquisition of Valaris, under which each Valaris share would be exchanged for 15.235 Transocean shares. Valaris and Transocean shareholder meetings are scheduled for November 24, 2026, and a Bermuda court sanction hearing is set for November 26, 2026, with completion anticipated on or about December 1, 2026. The filing gives no financial results, and completion still depends on shareholder and court approvals and other conditions.
- Exchange ratio: 15.235 Transocean shares for each Valaris share under a Bermuda scheme of arrangement
- Valaris Court Meeting and Transocean Meeting both scheduled for November 24, 2026
- Bermuda Supreme Court sanction hearing scheduled for November 26, 2026; closing anticipated on or about December 1, 2026
Read the filing on SEC.gov ↗
Aug 5, 5:00 PM ET
Valaris reported second quarter 2026 total operating revenues of $539 million and net income of $47 million, compared with $465 million of revenue and a net loss of $18 million in the first quarter. Adjusted EBITDA rose to $97 million from $67 million, though the company said Middle East conflicts reduced it by about $30 million. The company also said it will not hold earnings calls or update forward-looking guidance while its pending business combination with Transocean is completed.
- Total operating revenues $539 million, up from $465 million in Q1 2026
- Net income $47 million versus a net loss of $18 million in Q1 2026; diluted EPS $0.72 versus $(0.24)
- Adjusted EBITDA $97 million, including about $30 million of negative impacts from Middle East conflicts
- Pending Transocean business combination expected to close in Q4 2026; no future earnings calls or guidance updates planned
Read the filing on SEC.gov ↗
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