Valaris Ltd has won roughly $220 million in new contract awards across its fleet, with the drillship Valaris DS-18 and the jackups Valaris 107 and Valaris 122 among the units named in the package, according to a company announcement surfaced by IndexBox.

The aggregate award value — $220 million — is the figure that moves the offshore story here. It spans multiple rigs and, in the case of the jackups, points to continued contracting momentum in shallow-water basins where dayrates have firmed since the 2021 trough.

Which rigs picked up work?

The awards cover:

• Valaris DS-18 — the drillship named in the headline of the award package.
• Valaris 107 — a jackup included in the contracted set.
• Valaris 122 — a second jackup secured under the new awards.
• Additional units flagged only as "& More" in the disclosure headline, meaning the package extends beyond the three named rigs.

Valaris did not itemize the value per rig in the headline disclosure. The $220 million figure is a fleet-level aggregate across the awards.

What does this signal for the offshore market?

For rig watchers, a $220 million multi-rig package from Valaris — the largest offshore driller by fleet count after its 2020 restructuring — adds to the backlog that supports dividend capacity and newbuild-equipment spending. Drillship awards of this scale typically imply either a multi-well program or an extended single-well scope with options.

On the jackup side, Valaris 107-class units have historically worked Southeast Asia, West Africa and the Middle East, regions that account for the bulk of global jackup demand. Contractors across the sector have reported tightening jackup availability in those basins, and stacked units are returning to the market under new contracts rather than being recycled.

What to watch

The watch items are the individual award details: durations, dayrates, operators and countries of operation for DS-18, Valaris 107 and Valaris 122, which the company is expected to disclose in its routine fleet-status reporting. Watch also for the startup dates on each contract, since first revenue day determines when the $220 million begins converting to cash flow.

Editor's note: The underlying disclosure reached Rig & Refinery as a headline-level summary; per-rig terms were not published with it. This report is limited to the facts in that summary.