Valaris Ltd

Valaris Limited is a global offshore contract drilling company that provides offshore contract drilling services to the international oil and gas industry. The company operates in almost every major offshore market across six continents. Valaris owns one of the largest fleets of offshore drilling rigs globally, which includes a high-specification ultra-deepwater fleet and a leading premium jackup fleet. As of February 20, 2026, Valaris owns 46 rigs, comprising 13 drillships, two semisubmersible rigs, and 31 jackup rigs. Additionally, Valaris holds a 50% equity interest in ARO, a 50/50 unconsolidated joint venture with Saudi Aramco, which owns an additional nine rigs. Valaris's customers include leading international and government-owned oil and gas companies, as well as independent operators. The company is geographically diverse, with operations in the Gulf of America, South America, the North Sea, the Mediterranean, the Middle East, Africa, and Asia Pacific. Valaris provides drilling services on a day rate contract basis, where it supplies a drilling rig and crews for a daily rate that can vary. The company may also receive lump-sum fees for mobilization, demobilization, and capital upgrades of its rigs. Customers are responsible for most well construction and drilling support costs, along with the economic risk of well success.