Valaris Limited (VAL) is rated a Strong Buy, driven by management's strategy to reactivate cold-stacked rigs amid rising day rates and offshore demand. VAL's partnership with Aramco through ARO Drilling offers significant EBITDA growth potential as the venture expands its rig fleet over the next decade. Key tailwinds include structural undersupply of offshore rigs, high reactivation costs, and a shift from shale to offshore drilling, supporting higher day rates.
Valaris Limited ( VAL ) Q3 2025 Earnings Call October 30, 2025 10:00 AM EDT Company Participants Nick Georgas Anton Dibowitz - President, CEO & Director Matt Lyne - Senior VP & Chief Commercial Officer Christopher Weber - Senior VP & CFO Conference Call Participants Scott Gruber - Citigroup Inc., Research Division Gregory Lewis - BTIG, LLC, Research Division Eddie Kim Doug Becker - Capital One Securities, Inc., Research Division Presentation Operator Good day, everyone, and welcome to the Valaris Third Quarter 2025 Results Conference Call. [Operator Instructions] Please also note today's event is being recorded.
Valaris Limited (NYSE:VAL ) Barclays 39th Annual CEO Energy-Power Conference 2025 September 2, 2025 1:50 PM EDT Company Participants Anton Dibowitz - President, CEO & Director Presentation Unknown Analyst All right. Next up, we have Valaris this afternoon.
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Valaris Limited is a prominent provider of offshore contract drilling services for the international oil and gas industry. Since its incorporation in 2009 and headquartered in Hamilton, Bermuda, Valaris has established a significant presence in the global market. The company boasts a substantial offshore drilling rig fleet, encompassing a wide range of equipment designed to meet the diverse needs of its clients. Valaris's operations span several critical regions, including the Gulf of Mexico, the North Sea, the Middle East, West Africa, Australia, and Southeast Asia. The company's clientele comprises international, government-owned, and independent oil and gas companies, highlighting its wide-reaching service capabilities and the trust it has garnered within the industry.
Valaris Limited owns 11 drillships, which are among the most advanced offshore drilling rigs. Drillships are particularly valuable for their mobility and their capability to drill in deep waters. These vessels are equipped with the latest technology for drilling operations in challenging environments, making them suitable for global exploration and development projects.
The company operates 4 dynamically positioned semisubmersible rigs. These rigs offer enhanced stability and are capable of operating in deepwater conditions. Their dynamic positioning system allows them to maintain their position over the drilling site without being anchored to the sea floor, which is crucial for precision drilling in environments susceptible to harsh weather conditions.
Valaris also has a moored semisubmersible rig in its fleet. Unlike dynamically positioned rigs, this rig is anchored to the seabed, providing stability through its mooring system. This type of rig is well-suited for drilling in a variety of water depths, offering flexibility for operations in both stable and challenging conditions.
With 40 jackup rigs, Valaris has a robust fleet capable of shallow water drilling. Jackup rigs are mobile, self-elevating platforms equipped with legs that can be extended to the ocean floor, providing a stable drilling environment above the surface. These rigs are commonly used for drilling and servicing wells in relatively shallow waters, making them versatile tools for a broad range of exploration and development activities.