Valaris (VAL)

Valaris Plc engages in the provision of offshore contract drilling services to the international oil and gas industry. It operates its through the following segments: Floaters, Jackups and Others. The Floaters segment includes drill ships and semisubmersible rigs. The Jackups segment offers contract drilling service. The Others segment consists of management services on rigs owned by third-parties. The company was founded on July 3, 1905 and is headquartered in London, the United Kingdom.

Company profile

Ticker

VAL, VAL-WT

Exchange

NYSE

Website

www.valaris.com/

CEO

Thomas Burke

Location

Bermuda

Fiscal year end

Dec 31

Sector

Mining, Quarrying, and Oil and Gas Extraction > Drilling Oil and Gas Wells

Industry (SIC)

Drilling Oil & Gas Wells

Transocean • Seadrill • Noble • Nabors Industries • Noble • Diamond Offshore Drilling • Helmerich & Payne • Patterson-UTI Energy • Vantage Drilling International • Borr Drilling ...

Former names

ENERGY SERVICE COMPANY INC, ENSCO INTERNATIONAL INC, Ensco International plc, Ensco plc, Ensco Rowan plc, Valaris plc

SEC CIK

0000314808

Corporate docs

Articles of Incorporation & Bylaws

Underwriting Agreements

Plans of Reorganization

Indentures

Material Contracts & Credit Agreements

Subsidiaries Lists

Subsidiaries

Alpha Achiever Company • Alpha Admiral Company • Alpha Archer Company • Alpha Aurora Company • Alpha International Drilling Company S.A.R.L. • Alpha Leasing Drilling Limited • Alpha Mako Company • Alpha Manta Company • Alpha Offshore Drilling (S) Pte. Ltd. • Alpha Offshore Drilling Services Company ...

IRS number

980635229

VAL stock data

1M 1Y 5Y

News

From Benzinga Pro

Valaris Announces Contract Termination For Drillship Valaris DS-11

1 Jun 22

Valaris Announces Contract Termination for Drillship VALARIS DS-11 Valaris Limited (NYSE:VAL) ("Valaris" or the "Company") announced today that Equinor has delivered a termination notice for the

Earnings Scheduled For May 3, 2022

3 May 22

Companies Reporting Before The Bell • Kiniksa Pharmaceuticals (NASDAQ:KNSA) is projected to report earnings for its first quarter.

Valaris Earnings Conference Call Is Coming Up, Here's What You Need To Know

21 Apr 22

Valaris (NYSE:VAL) will host a conference call at 10:00 AM ET on May 3, 2022, to discuss Q1 2022 earnings results. How to Attend Valaris (VAL) Conference Call Follow this link to access the live webcast.

Valaris Announces Contract And Contract Extensions Awards, With Associated Contract Backlog Of $181M

6 Apr 22

Press releases

From Benzinga Pro

North America Uranium Production Expected to Help Meet Worldwide Nuclear Power Needs

7 Jun 22

PALM BEACH, Fla., June 7, 2022 /PRNewswire/ -- FinancialNewsMedia.com News Commentary - Canada is an important player in the world's production of uranium. Uranium mining in Canada for the domestic industry is also

Valaris Announces New Executive Leadership Position

2 Jun 22

Valaris Limited (NYSE:VAL) ("Valaris" or the "Company") today announced that Christophe Raimbault, Vice President and interim Head of Marketing will take on a new role as Vice President - Sustainability

Valaris Announces Contract Termination for Drillship VALARIS DS-11

1 Jun 22

Valaris Limited (NYSE:VAL) ("Valaris" or the "Company") announced today that Equinor has delivered a termination notice for the drilling contract awarded to drillship VALARIS DS-11. The termination will take effect at

Valaris Announces New Executive Leadership Appointments

26 May 22

Valaris Provides Quarterly Fleet Status Report

2 May 22

Calendar

3 May 22

26 Jun 22

31 Dec 22

Financial summary

Financial statements Chart VAL financial data

Quarter (USD)	Mar 22	Dec 21	Sep 21	Jun 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Annual (USD)	Dec 21	Dec 20	Dec 19	Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Cash burn rate (est.)	Burn method: Change in cash		Burn method: Operating income		Burn method: FCF (opex + capex)
	Last Q	Avg 4Q	Last Q	Avg 4Q	Last Q	Avg 4Q
Cash on hand (at last report)	608.2M	608.2M	608.2M	608.2M	608.2M	608.2M
Cash burn (monthly)	12.13M	3.88M	16.63M	5.95M	(no burn)	(no burn)
Cash used (since last report)	34.88M	11.14M	47.81M	17.1M	n/a	n/a
Cash remaining	573.32M	597.06M	560.39M	591.1M	n/a	n/a
Runway (months of cash)	47.3	154.1	33.7	99.3	n/a	n/a

Beta Read what these cash burn values mean

Financial data from Valaris earnings reports.

Recent insider trades

VAL insider ownership history Insider history

Date	Owner	Security	Transaction	Code	Indirect	10b5-1	$Price	#Shares	$Value	#Remaining
15 Jun 22	Anton Dibowitz	Common Shares	Payment of exercise	Dispose F	No	No	51.58	1,050	54.16K	119,347
9 Jun 22	Deepak Munganahalli	Common Shares	Grant	Acquire A	No	No	0	3,068	0	25,091
9 Jun 22	Fagerstal Dick	Common Shares	Grant	Acquire A	No	No	0	3,068	0	25,091
9 Jun 22	James W Swent Iii	Common Shares	Grant	Acquire A	No	No	0	3,068	0	25,091
9 Jun 22	Elizabeth Leykum	Common Shares	Grant	Acquire A	No	No	0	4,383	0	32,336

Data from 3, 4 and 5 filings. Values as filed, not updated for current price.

Institutional ownership, Q1 2022

VAL institutional ownership history Ownership history

76.0% owned by funds/institutions

13F holders	Current	Prev Q	Change
Total holders	148	111	+33.3%
Opened positions	49	36	+36.1%
Closed positions	12	17	-29.4%
Increased positions	47	27	+74.1%
Reduced positions	27	26	+3.8%

13F shares	Current	Prev Q	Change
Total value	13.22B	8.34B	+58.6%
Total shares	57.02M	59.75M	-4.6%
Total puts	99.3K	86.8K	+14.4%
Total calls	232.4K	234.1K	-0.7%
Total put/call ratio	0.4	0.4	+15.2%

Largest owners	Shares	Value	Change
Oak Hill Advisors	9.41M	$489.18M	0.0%
Goldentree Asset Management	5.92M	$307.9M	-20.0%
Famatown Finance	4.65M	$0	0.0%
Lodbrok Capital	3.86M	$200.48M	-16.5%
Contrarius Investment Management	2.39M	$124.06M	-17.3%
Canyon Capital Advisors	2.25M	$116.86M	-29.7%
Exor Investments	2.09M	$108.39M	+5.0%
Elliott Investment Management	1.9M	$98.74M	-14.9%
Allianz Asset Management GmbH	1.8M	$93.42M	-9.5%
Whitebox Advisors	1.8M	$93.39M	-11.0%

Largest transactions	Shares	Bought/sold	Change
Goldentree Asset Management	5.92M	-1.48M	-20.0%
King Street Capital Management	673.88K	-1.27M	-65.4%
Oaktree Capital Management	50K	-1.03M	-95.4%
Southpoint Capital Advisors	1M	+1M	NEW
Orbis Allan Gray	1.72M	+950.86K	+124.4%
Canyon Capital Advisors	2.25M	-949.76K	-29.7%
Lodbrok Capital	3.86M	-762.1K	-16.5%
Brigade Capital Management	843.02K	-631.51K	-42.8%
Scout Investments	574.87K	+574.87K	NEW
Contrarius Investment Management	2.39M	-498.13K	-17.3%

Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

Financial report summary

Management Discussion

Management believes the comparison of the most recently completed quarter to the immediately preceding quarter provides more relevant information needed to understand and analyze the business. As such, as permitted under applicable SEC rules, we have elected to discuss any material changes in our results of operations by including a comparison of our most recently completed fiscal quarter ended March 31, 2022 (the "current quarter") (Successor) to the immediate preceding fiscal quarter ended December 31, 2021 (Successor) (the "preceding quarter"). We also continue to discuss any material changes in our results of operations for the current quarter compared to the corresponding period of the preceding fiscal year (Predecessor) (the "prior year quarter"), as required under the applicable SEC rules.

Content analysis

Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability	H.S. junior Avg

New words: Absent, Asia, begun, climate, cold, conflict, cover, decided, derecognition, driven, drove, Eastern, Eni, Europe, expedient, feel, geopolitical, heightened, imbalance, immaterial, increasingly, infill, inflation, invasion, larger, nonfinancial, notably, novated, novation, pace, practical, psi, Russia, sanction, Shell, slightly, slower, Southeast, spot, stable, survey, taxable, trajectory, Ukraine, war

Removed: accelerated, accepting, activism, administration, aging, al, alleged, amendment, amortize, AOCI, approved, assist, authority, began, borrowed, borrowing, broker, calculating, cancel, caption, chose, comparative, competing, compromise, confirmation, confirmed, constituted, contemplated, convertible, defense, defer, delay, delisting, depended, designate, Detailed, deterioration, development, dinar, DIP, drawn, eligible, Ensco, enterprise, entry, establishment, estate, Euro, exceed, exchangeable, existed, expectation, expenditure, experience, extend, extended, facility, fell, finance, firm, flexibility, frozen, function, glut, gradual, hedged, hierarchy, implementation, infrastructure, initially, integration, intraperiod, Jersey, June, largely, LLC, loan, lowered, Luxembourg, maintained, manage, marketable, MI, modified, navigate, negatively, NYSE, observed, obtained, occasionally, offered, open, opportunity, organizational, original, parent, participate, pertaining, predominantly, present, Pride, private, pro, put, rabbi, range, rata, RCF, reaction, reconcile, recoverability, region, rejecting, remained, remove, removed, remuneration, reorganized, representing, request, reserved, response, retroactively, retrospective, return, reviewed, revolving, Rowan, scrapping, separated, September, SERP, settle, settlement, sharply, shorten, Simplifying, slight, sought, source, spare, spend, stated, stayed, subscription, subsequently, supplemental, suspended, temporarily, test, thereunder, treatment, trust, unamortized, undrawn, uneven, utilized, wake, wealth, wholly

From filing 10-Q 2022 Q1

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