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Stock impact report

Valaris Bags New Offshore Drilling Contract in West Africa for $352M [Yahoo! Finance]

Archrock, Inc. (AROC) 
Last archrock, inc. earnings: 2/19 07:16 pm Check Earnings Report
US:NYSE Investor Relations: archrock.com/aroc
Company Research Source: Yahoo! Finance
The ultra-deepwater drillship will begin its new assignment offshore West Africa. The total contract value is estimated to be $352 million. The contract also includes the provision of two one-year options. The VALARIS DS-10 ultra-deepwater drillship completed its last assignment in Nigeria in August 2024. Per VAL's fleet status report, the drillship remained in Spain since the last contract ended. According to the terms of the new contract, the drillship will commence work offshore West Africa in the second or third quarter of 2026. VAL believes that the new contract award demonstrates the drillship's successful record of completing projects in West Africa and highlights the rig's safety standards and operational efficiency. The new contract adds to the company's project backlog that should support its future cashflows. The company aims to keep securing long-term contracts for its advanced rig fleet. VAL currently carries a Zacks Rank #5 (Strong Sell). Some better-ranked stock Show less Read more
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