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Valaris' Latest Contract Awards Add $220M to Contract Backlog
Zacks Investment Research·
Valaris Ltd. (VAL) announced multiple contract awards and extensions totaling approximately $220 million added to its backlog. Key wins include a 300-day offshore drilling contract in Australia worth $50 million, a North Sea plug and abandonment contract valued at $41.5 million, and contract extensions with INEOS, Seatrium, and Eni. These awards are expected to enhance fleet utilization and provide future revenue visibility.
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