Equinor Adds Two Wells to Valaris' Jack-Up Rig Scope

Offshore drilling firm Valaris said Wednesday it had won a contract extension for one of its jack-up drilling rigs with Norway-based oil company Equinor.

The contract is for the Valaris JU-291 jack-up drilling unit, formerly known as the Rowan Stavanger. The extension will see the Keppel-built drilling unit drill two wells offshore Norway.

Under the extension, the heavy-duty ultra-harsh environment jackup will stay busy for an estimated 120 days in direct continuation of the existing contract.

As a result, the Valaris JU-291, delivered back in 2011, is now expected to be under contract through February 2022.

Valaris did not share the dayrate details. Bassoe Analytics estimates the dayrate to be around $190.000

This is the second rig contract announced by Valaris so far this week. 

The company on Tuesday said it had struck a drillship deal with TotalEnergies in Ivory Coast. The contract involves the ultra-deepwater drillship Valaris DS-12. It is expected to start in the third quarter of 2021. Bassoe Analytics estimates the dayrate at around 200.000.

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