Offshore driller Valaris gears up for possible debt restructuring -sources [Reuters]
Valaris Limited Common Shares (VAL)
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Source: Reuters
Offshore driller Valaris gears up for possible debt restructuring -sources - Reuters 3 Min Read NEW YORK, March 20 (Reuters) - Offshore oil driller Valaris PLC is exploring debt restructuring options as it grapples with a rig accident and a broader collapse in energy prices, people familiar with the matter said on Friday. Valaris has tapped debt restructuring attorneys at law firm Kirkland & Ellis LLP for advice on ways to rework its roughly $6.5 billion debt pile, and is exploring enlisting a turnaround firm that specializes in urgently addressing stressed finances to bolster its roster of advisers, the sources said. The London-based company had already been working with investment bank Lazard Ltd on options for addressing its debt, in addition to a series of cost-cutting measures already underway. No formal debt restructuring, such as a bankruptcy filing, is imminent for Valaris, even as the company considers significant steps to rework its finances, the sources added. It had $1.7 b
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News
- Valaris Limited (NYSE: VAL) had its "buy" rating re-affirmed by analysts at Benchmark Co.. They now have a $90.00 price target on the stock.MarketBeat
- Valaris Reports First Quarter 2024 Results [Yahoo! Finance]Yahoo! Finance
- Valaris Reports First Quarter 2024 ResultsBusiness Wire
- Valaris Issues Fleet Status ReportBusiness Wire
- Valaris Limited (NYSE: VAL) was upgraded by analysts at StockNews.com to a "sell" rating.MarketBeat
VAL
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- 5/1/24 - Miss
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Sec Filings
- 5/2/24 - Form 10-Q
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- 5/1/24 - Form 8-K
- VAL's page on the SEC website