British offshore driller Valaris says rigs may be idle for up to two years [Reuters]
Valaris Limited Common Shares (VAL)
Last valaris limited common shares earnings: 4/29 09:50 pm
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Source: Reuters
British offshore driller Valaris says rigs may be idle for up to two years April 30 (Reuters) - Offshore drilling contactor Valaris , which is exploring a bankruptcy restructuring, on Thursday said it could take up to two years to reactivate idle equipment as contracts dry up during a historic rout in oil prices. Global oil markets have collapsed since the beginning of March as the coronavirus pandemic has crushed fuel demand. Expensive offshore drilling projects have been halted or delayed, creating an uncertain outlook for service firms that had hardly recovered from the last oil price crash. London-based Valaris, the result of the 2019 merger of Ensco Plc and Rowan Companies, posted a $2.81 billion asset impairment charge in the first quarter. It is exploring a debt restructuring that might require “a substantial conversion of our indebtedness to equity,” it said. Rival Diamond Offshore this week filed for Chapter 11 bankruptcy, listing debts of $2.6 billion and assets of $5.8 bill
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News
- Valaris Limited (VAL): A Bull Case Theory [Yahoo! Finance]Yahoo! Finance
- Valaris (NYSE:VAL) had its "neutral" rating reaffirmed by analysts at Citigroup Inc..MarketBeat
- Valaris (NYSE:VAL) was upgraded by analysts at Zacks Research from a "strong sell" rating to a "hold" rating.MarketBeat
- Valaris (NYSE:VAL) was given a new $50.00 price target on by analysts at Barclays PLC.MarketBeat
- Valaris Limited: Years Of Underperformance Might Finally Be Over [Seeking Alpha]Seeking Alpha
VAL
Earnings
- 10/29/25 - Beat
VAL
Sec Filings
- 10/30/25 - Form 10-Q
- 10/29/25 - Form 8-K
- 10/23/25 - Form 8-K
- VAL's page on the SEC website