Valaris DS-11 drillship

Over $400 million of Valaris backlog hangs in the balance after TotalEnergies abandons project

Offshore drilling contractor Valaris has secured new contracts and extensions for its fleet of drilling rigs and sold one of the jack-ups. However, over $400 million of backlog related to a drillship contract in the Gulf of Mexico now hangs in the balance due to a client's decision to withdraw from the project.

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