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Noticias de VAL
Eventos de VAL
Valaris and Transocean Merger Approved by Brazilian Regulators
Valaris (VAL) disclosed that on October 13, the Brazilian competition authorities issued a decision determining that the business combination Transocean (RIG) may be put into effect without restrictions. Valaris and Transocean expect this decision to be published in Brazil's Official Journal on October 15 or October 16, which will trigger the start of a 15 waiting period before the decision becomes final. Once CADE's decision becomes final, all regulatory approval conditions to the closing of the combination will be satisfied, the company added. Valaris and Transocean currently anticipate that the closing of the deal will occur in Q4.
Valaris Secures New Contracts and Extensions, Total Backlog Approximately $220M
Valaris announced that it has been awarded new contracts and contract extensions, with associated contract backlog of approximately $220M subsequent to issuing the Company's previous fleet status report on August 5. Contract backlog excludes lump sum payments such as mobilization fees and capital reimbursements. Two-well exploration contract with PETRONAS Suriname Exploration & Production B.V. for drillship VALARIS DS-18. The contract, which follows a previously announced Letter of Award, is expected to commence in the fourth quarter of 2026 with a duration of up to seven months. The contract backlog excludes additional services that may be provided and billed separately, as well as compensation for mobilization and demobilization. New contract offshore Australia for VALARIS 107. The contract is expected to commence following its current commitments and has an estimated duration of 300 days. The contract backlog of approximately $50M excludes compensation for mobilization and demobilization. The contract also includes priced options. Multi-well plug and abandonment contract in the Southern North Sea. The contract is a fleet award under which operations may be performed by any suitable and available rig within the Valaris North Sea fleet. The contract has a commencement window up to December 2030 and has an estimated duration of 341 days. The contracted revenue backlog is estimated to be $41.5M and is subject to an annual cost escalation mechanism effective from the contract execution date. The contract also includes a one-well option with an estimated duration of 19 days. Contract extension for VALARIS 122 with INEOS for a project in the Danish North Sea. The contract extension is expected to commence in February 2027 in direct continuation of the existing program and has an estimated duration of 126 days. The operating day rate is $115,000. The contract includes additional options with an estimated total duration of 699 days for work in the UK and Danish North Sea. A previously announced contract for VALARIS 72 with Eni in the East Irish Sea has been amended. Approximately eight and a half months of the program will now be undertaken by VALARIS 121, which is expected to commence operations in November in direct continuation of its existing program with another operator. VALARIS 72 is now expected to complete its program in March 2027, rather than September 2027. The amendment increases contract backlog by approximately $17M. 31-day contract extension for VALARIS 248 with Seatrium in the UK North Sea to provide accommodation support services for an offshore wind project. The contract extension commenced in October 2026 in direct continuation of the existing program and added approximately $2.5M to contracted revenue backlog. Semisubmersible VALARIS MS-1 and jackup VALARIS 111 were sold for recycling in September..
Company Reports Q2 Revenue of $539.2M
Reports Q2 revenue $539.2M, consensus $488.56M. President and Chief Executive Officer Anton Dibowitz said, "I want to thank our teams across the organization for their unwavering commitment to safe, reliable and efficient operations. Together we delivered another quarter of strong performance, highlighted by revenue efficiency of 98% and the successful startup of two drillships. These achievements helped drive solid financial results despite the impact of the ongoing conflicts in the Middle East."
U.S. Justice Department Plans to Streamline Merger Reviews
Catch up on the top industries and stocks that were impacted, or were predicted to be impacted, by the comments, actions and policies of President Donald Trump with this daily recap compiled by The Fly.MERGER REVIEWS:The Justice Department's antitrust division plans to announce on Thursday a new model for streamlining merger reviews that would quickly focus on the most apparent ways a deal might diminish competition, The Wall Street Journal's Dave Michaels, citing department officials. The move underscores the Trump administration's warmth toward dealmaking, which some critics say will erect roadblocks to challenging anticompetitive mergers, the author notes. The Justice Department recently allowed Paramount'sproposed $81B acquisition of Warner Bros. Discovery. Outstanding merger probes include Transocean'sproposed $5.8B purchase of rival offshore drilling services firm Valaris.IRAN WAR:President Donald Trumpon Truth Social, "A year ago the United States of America attacked, very powerfully, the Houthis, for their interference with commerce and trade, by shooting at ships. Since that time, and during our conflict with Iran, they have acted very responsibly. Unfortunately, now they are starting up again, shooting at two Saudi Arabian ships last night. Please let this TRUTH serve to represent that if they do this again, the U.S. will hold Iran responsible, in that the Houthis are a Surrogate and/or Proxy of Iran, and major military punishment will be inflicted upon Iran and, of course, the Houthis, themselves, who I am very disappointed with in that they have, until now, acted very professionally and smart. Thank you for your attention to this matter!"NUCLEAR PACT:U.S. Secretary of Energy Chris Wright and Saudi Minister of Energy His Royal Highness Prince Abdulaziz bin Salmana peaceful nuclear cooperation agreement, commonly known as a 123 agreement, alongside an accompanying bilateral safeguards agreement. "Together, these two agreements lay the legal foundation for a decades-long, multi-billion-dollar partnership that advances several priority economic and strategic objectives, including nuclear nonproliferation," the department said in a post on X, formerly Twitter. "The 123 agreement provides great access for American companies in the Saudi nuclear energy program, benefiting American industry, workers, and supply chains while helping to meet Saudi energy needs. The two agreements also advance U.S. and regional security by upholding high standards of nuclear safety, security, and nonproliferation and strengthening the United States' competitive edge in civil nuclear technology."U.S. DOE AWARDS:Infleqtionannounced it has been awarded three projects to accelerate American scientific research and innovation by the U.S. Department of Energy for the Genesis Mission. The projects include collaborations with Argonne National Laboratory, Brookhaven National Laboratory, Lawrence Livermore National Laboratory and University of Colorado Boulder and span AI-optimized quantum circuit design for nuclear applications, deployable atomic quantum sensing with Agentic AI and nuclear fusion energy research. AI data centers are pulling more power than the grid was ever built to handle, and the industry is recognizing that these types of issues are beyond the capabilities of classical computing alone," said Matthew Kinsella, CEO at Infleqtion. "By applying quantum computing to some of the hardest problems in nuclear and energy research, Infleqtion is playing a critical role in advancing the objectives of the Genesis Mission."
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