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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VAL
News
- Valaris Limited (NYSE: VAL) had its price target lowered by analysts at Barclays PLC from $61.00 to $59.00. They now have an "overweight" rating on the stock.MarketBeat
- Valaris Limited (NYSE: VAL) had its price target lowered by analysts at Susquehanna from $61.00 to $55.00. They now have a "neutral" rating on the stock.MarketBeat
- Valaris Reports Third Quarter 2024 ResultsBusiness Wire
- Valaris (VAL): Hedge Funds Eye Offshore Drilling Leader Amid Market Lows [Yahoo! Finance]Yahoo! Finance
- Valaris Limited (NYSE: VAL) had its price target lowered by analysts at Barclays PLC from $91.00 to $61.00. They now have an "overweight" rating on the stock.MarketBeat
VAL
Earnings
- 10/30/24 - Miss
VAL
Sec Filings
- 11/14/24 - Form SC
- 11/12/24 - Form SC
- 11/6/24 - Form 4
- VAL's page on the SEC website