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Valaris sells the VALARIS 247 jackup rig to BW Energy for US$108 million; the unit will be remodeled to operate in the Maromba field, expanding its offshore presence in the Campos Basin and reinforcing Valaris' financial strategy.
Valaris Limited (NYSE: VAL) announced the sale of jackup platform VALARIS 247 for BW Energy for about $108M monthly. The closing of the deal is expected in the second half of 2025, subject to customary conditions.
Under the agreement, BW Energy will be restricted to operating the unit only on its own or affiliated assets for the remaining useful life of the platform. VALARIS 247 will undergo refurbishment to operate in the Maromba field, in the Campos Basin, where BW Energy concentrates part of its activities in Brazil.
Valaris CEO Anton Dibowitz said the transaction is highly profitable and opportunistic, increasing the company's financial flexibility, including the possibility of returning capital to shareholders.
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About Valaris: Valaris is a world leader in offshore drilling services, with a modern fleet of rigs for shallow and ultra-deep waters, standing out for its safety, innovation and operational excellence.
