Valaris Secures $760M in New Contracts with Occidental, Boosting Backlog to $1.9B
Valaris has announced a major milestone in its 2025 contract performance, securing a 940-day extension for the VALARIS DS-16 and a new 914-day contract for the VALARIS DS-18, both awarded by Occidental for work in the Gulf of Mexico. These contracts add a total of $760 million to Valaris’ growing backlog, now totaling $1.9 billion in new awards year-to-date.
The DS-16 extension will commence in June 2026, ensuring continued operations for this high-specification drillship. The DS-18 contract is set to begin in Q4 2026, marking the start of another long-term deployment for Valaris in deepwater drilling.
Anton Dibowitz, President and CEO of Valaris, emphasized the strategic significance of the contracts:
“We’ve secured approximately $1.9 billion in new contract backlog so far this year, reflecting solid execution of our commercial strategy and our ability to deliver safe and efficient operations for our customers. We remain focused on securing additional attractive, long-term contracts for our high-specification assets that will further support our earnings and cash flow.”
With consistent demand in the Gulf of Mexico and a strong execution track record, Valaris continues to reinforce its position as a trusted leader in offshore drilling services.
