Benzinga | Oct 19, 2021 04:34PM EDT

Valaris Wins Contract With Petrobras Offshore Brazil For Drillship, VALARIS DS-4, No Terms Disclosed

Valaris Limited (NYSE:VAL) announced today that it has been awarded a contract with Petrobras offshore Brazil for drillship, VALARIS DS-4. The contract is for a minimum term of 548 days. The rig is currently preservation stacked in the UK and will transit to the Canary Islands, where it will be reactivated and then mobilized to Brazil. The contract is anticipated to commence by early second quarter 2022.