VAL Valaris Dashboard

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, VALPQ

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

IRS number

980635229

VAL stock data

S&P 500

1M 1Y 2Y 5Y

News

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Valaris Announces Floater Contract Award; Size Not Disclosed

8 Jun 21

Valaris Limited (NYSE:VAL) announced today that it has been awarded a three-year contract with Chevron in the U.S. Gulf of Mexico for drillship, VALARIS DS-18 (Relentless). The contract is expected to commence in the

Valaris Limited Announces Co. Has Been awarded A Two-Well Contract Extension With Equinor Energy AS Offshore Norway For VALARIS JU-291

2 Jun 21

Valaris Limited (NYSE:VAL) announced today that it has been awarded a two-well contract extension with Equinor Energy AS offshore Norway for VALARIS JU-291 (Stavanger), a heavy-duty ultra-harsh environment jackup. The

Valaris Says Awarded 1-Well Contract With Total E&P Côte d'Ivoire B.V. Offshore Ivory Coast For Drillship, VALARIS DS-12; Says Contract Expected To Commence Q3 2021

1 Jun 21

alaris Limited (NYSE:VAL) announced today that it has been awarded a one-well contract with Total E&P Côte d'Ivoire B.V. offshore Ivory Coast for drillship, VALARIS DS-12. The contract is expected

Press releases

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Valaris Announces Floater Contract Award

8 Jun 21

HAMILTON, Bermuda, June 8, 2021 /PRNewswire/ -- Valaris Limited (NYSE:VAL) announced today that it has been awarded a three-year contract with Chevron in the U.S. Gulf of Mexico for drillship, VALARIS DS-18 (Relentless).

Valaris Limited Announces Jackup Contract Award

2 Jun 21

HAMILTON, Bermuda, June 2, 2021 /PRNewswire/ -- Valaris Limited (NYSE:VAL) announced today that it has been awarded a two-well contract extension with Equinor Energy AS offshore Norway for VALARIS JU-291 (Stavanger),

Valaris Announces Floater Contract Award

1 Jun 21

HAMILTON, Bermuda, June 1, 2021 /PRNewswire/ -- Valaris Limited (NYSE:VAL) announced today that it has been awarded a one-well contract with Total E&P Côte d'Ivoire B.V. offshore Ivory Coast for drillship,

Valaris Limited Publishes New Investor Presentation

26 May 21

Valaris Limited Announces Jackup Contract Award

19 May 21

Calendar

28 Apr 21

14 Jun 21

31 Dec 21

Financial summary

Financial statements Chart VAL financial data

Quarter (USD)	Mar 21	Dec 20	Sep 20	Jun 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Annual (USD)	Dec 20	Dec 19	Dec 18	Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from Valaris earnings reports.

Cash burn rate (estimated)	Burn method: Change in cash		Burn method: Operating income/loss		Burn method: FCF (opex + capex)
	Last Q	Avg 4Q	Last Q	Avg 4Q	Last Q	Avg 4Q
Cash on hand (at last report)	291.7M	291.7M	291.7M	291.7M	291.7M	291.7M
Cash burn (monthly)	11.37M	(positive/no burn)	282.03M	176.42M	10.57M	6.58M
Cash used (since last report)	28.05M	n/a	696.04M	435.38M	26.08M	16.25M
Cash remaining	263.65M	n/a	-404.34M	-143.68M	265.62M	275.45M
Runway (months of cash)	23.2	n/a	-1.4	-0.8	25.1	41.8

Beta Read what these cash burn values mean

Recent insider trades

VAL insider ownership history Insider history

Date	Owner	Security	Transaction	Code	Indirect	10b5-1	$Price	#Shares	$Value	#Remaining
30 Apr 21	Francis Mary	Restricted Share Units Class A Ordinary Shares	Other	Aquire J	No	No	0	2,533	0	0
30 Apr 21	Francis Mary	Warrants to purchase Common Shares Common Shares	Other	Aquire J	No	No	131.88	423	55.79K	423
30 Apr 21	Suzanne P Nimocks	Restricted Share Units Class A Ordinary Shares	Other	Dispose J	No	No	0	30,085	0	0
30 Apr 21	Suzanne P Nimocks	Warrants to purchase Common Shares Common Shares	Other	Aquire J	No	No	131.88	563	74.25K	563
30 Apr 21	Jonathan Baksht	Restricted Share Units Class A Ordinary Shares	Other	Dispose J	No	No	0	13,329	0	0
30 Apr 21	Jonathan Baksht	Warrants to purchase Common Shares Common Shares	Other	Aquire J	No	No	131.88	698	92.05K	698
30 Apr 21	Georges J. Lambert	Restricted Share Units Class A Ordinary Shares	Other	Dispose J	No	No	0	25,164	0	0
30 Apr 21	Thierry Pilenko	Restricted Share Units Class A Ordinary Shares	Other	Dispose J	No	No	0	42,816	0	0
30 Apr 21	Thierry Pilenko	Warrants to purchase Common Shares Common Shares	Other	Aquire J	No	No	131.88	19	2.51K	19

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

Institutional ownership Q1 2021

VAL institutional ownership history Ownership history

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

13F holders	Current	Prev Q	Change
Total holders	17	18	-5.6%
Opened positions	2	3	-33.3%
Closed positions	3	16	-81.3%
Increased positions	1	0	NEW
Reduced positions	0	2	EXIT

13F shares	Current	Prev Q	Change
Total value	31K	24K	+29.2%
Total shares	52.25K	150.91K	-65.4%
Total puts	0	0
Total calls	0	0
Total put/call ratio	–	–	–

Largest owners	Shares	Value	Change
Teachers Retirement System Of The State Of Kentucky	45.8K	$4K	0.0%
Plante Moran Financial Advisors	5K	$0	0.0%
Eudaimonia Partners	362	$0	NEW
Archer Investment	344	$26K	0.0%
Carroll Financial Associates	240	$0	0.0%
Westchester Capital Management	156	$0	NEW
AlphaMark Advisors	125	$0	0.0%
Nelson, Van Denburg & Campbell Wealth Management	57	$0	0.0%
McClarren Financial Advisors	39	$0	0.0%
Captrust Financial Advisors	38	$0	+46.2%

Largest transactions	Shares	Bought/sold	Change
Russell Investments	0	-98.6K	EXIT
TMP Tompkins Financial	0	-564	EXIT
Eudaimonia Partners	362	+362	NEW
Westchester Capital Management	156	+156	NEW
Global Trust Asset Management	0	-25	EXIT
Captrust Financial Advisors	38	+12	+46.2%
Huntington National Bank	20	0	0.0%
Teachers Retirement System Of The State Of Kentucky	45.8K	0	0.0%
AlphaMark Advisors	125	0	0.0%
Plante Moran Financial Advisors	5K	0	0.0%

Data from 13F filings. Stock values as filed, not updated for current price. Long positions only.

Financial report summary

Management Discussion

Revenues decreased $149.5 million, or 33%, for the three months ended March 31, 2021, as compared to the prior year quarter primarily due to $124.0 million from fewer days under contract across our fleet, $30.8 million from the sale of VALARIS 5004, VALARIS JU-84, VALARIS JU-87 and VALARIS JU-88, which operated in the prior year quarter, and $25.9 million due to lower revenues earned under the Secondment Agreement, Lease Agreements and Transition Services agreement with ARO. This decline was partially offset by a $25.0 million increase in revenue for certain rigs with higher average day rates for the three months ended March 31, 2021 as compared to the prior year quarter.
Contract drilling expense decreased $223.8 million, or 47%, for the three months ended March 31, 2021, as compared to the prior year quarter, primarily due to $108.9 million of lower cost on idle rigs, $24.5 million from the sale of VALARIS 5004, VALARIS 5006, VALARIS 8504, VALARIS DS-3, VALARIS DS-5, VALARIS DS-6, VALARIS JU-84, VALARIS JU-87 and VALARIS JU-88 and reduced cost resulting primarily from spend control efforts. Additionally, there was a decline of $17.5 million related to the Secondment Agreement with ARO as almost all remaining employees seconded became employees of ARO during the second quarter of 2020.
During the first quarter of 2021 and 2020, we recorded non-cash losses on impairment totaling $756.5 million and $2.8 billion, respectively, with respect to certain assets in our fleet. See "Note 6 - Property and Equipment" for additional information.

Content analysis

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

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From filing 10-Q 2021 Q1