valaris news 28, 2020 /PRNewswire/ -- Valaris plc (OTC: VALPQ) ("Valaris" or the "Company") today announced that, on September 25, 2020, the Company entered into a $500 million Posted by Danessa Lincoln on Mar 17th, 2021 // Comments off Valaris plc (OTCMKTS:VALPQ) was the target of a significant drop in short interest in the month of February. Valaris plc (VALPQ) is the industry leader in offshore drilling services across all water depths and geographies. Get the latest %COMPANY_NAME% VAL detailed stock quotes, stock data, Real-Time ECN, charts, stats and more. 3 million interest payment due on June 15, 2020, related to its 7. Valaris plc, et al. 4 billion in April 2019. 3% from the February 11th total of 2,662,700 shares. yahoo. m. Several businesses in the oil and gas industry across the state expect to lay off at least 600 workers collectively or have already sent out pink slips due the economic Valaris filed for Chapter 11 protection in August with $7. The news agency also said that the vessel’s crew, consisting of eight members, deployed the anchors, which appeared to be holding despite high winds. 3550, Change: +0. 11, 2020 /PRNewswire/ -- Valaris plc (OTC: VALPQ) ("Valaris" or the "Company") today announced that holders of over 70% in aggregate principal amount of its senior notes (the LONDON, Sept. com Offshore drilling company Valaris, the world's largest by fleet size, has received approval from the United States Bankruptcy Court for the The plan will enable Valaris to eliminate $7. Get access to 100,000+ more news articles Valaris plc (OTC: VALPQ) (“Valaris” or the “Company”) today announced that, on September 25, 2020, the Company entered into a $500 million Debtor-in-Possession (“DIP”) term loan agreement with certain of its noteholders. However, it also had US$1. VAL 0. Article Stock Quotes (1) FREE Breaking News Alerts from StreetInsider. 5 Billion and Provide $520 Million Capital Injection PR Newswire LONDON, March 3, Offshore driller Valaris has defended its request to maintain control of its bankruptcy proceeding against opposition from certain lenders, who the company says are trying to secure a larger payout Valaris was created in 2019. 58 Company profile page for Valaris plc including stock price, company news, press releases, executives, board members, and contact information Not long ago Valaris announced the first quarter ended in March 2020 financial results. 5 billion debt pile, and is exploring enlisting a turnaround firm that In yet another sign of the oil industry’s woes, London-based Valaris, the world’s largest oil-rig owner by fleet size, went bankrupt last year and sold the rig for the bargain-basement price Valaris Plc Announces Agreement To Significantly Reduce Debt And Create A Financial Structure Sustainable For Prolonged Industry Retrenchment And Longer-Term Recovery By PR Newswire Aug 19, 2020 Valaris (NYSE: VAL) has filed for Chapter 11 bankruptcy. Valaris plc (OTC: VALPQ) is the industry leader in offshore drilling services across all water depths and geographies. 58 Valaris (Valaris: VALPQ) stock research, analysis, profile, news, analyst ratings, key statistics, fundamentals, stock price, charts, earnings, guidance and peers. 60 million for the quarter, compared to the consensus estimate of $459. As previously reported, on August 18, 2020 Valaris plc (the "Company") and certain of the Company's wholly owned direct and indirect subsidiaries (collectively, "Valaris") entered into a Restructuring Support Agreement (the "RSA") with certain of the holders (the "Noteholders") of the Lenders took aim at Valaris PLC’s $7. 0. Q is more volatile than 75% of US stocks over the past 3 months, typically moving +/- 23% a week. K. Valaris plc Announces Agreement to Significantly Reduce Debt and Create a Financial Structure Sustainable for Prolonged Industry Retrenchment and Longer-Term Recovery LONDON, March 26, 2020 /PRNewswire/ -- Valaris plc (NYSE: VAL) ("Valaris" or the "Company") announced today that the Company continues actively working to recover or replace the blowout preventer LONDON, March 3, 2021 /PRNewswire/ -- Valaris plc (OTC: VALPQ) ("Valaris" or the "Company") today announced that it has received approval from the United States Bankruptcy Court for the Southern Public records show that Valaris' "ultra-deepwater semi-submersible" oil rigs 8500 and 8501 were sold for $3. News for Valaris PLC. Valaris has also reached an agreement with Daewoo Shipbuilding & Marine Engineering to amend its two newbuild drillship contracts. com! E-mail Address. In North America alone, dozens of producers and oilfield servicers have gone bust ARO Drilling, a 50:50 joint venture (JV) between offshore drilling contractor Valaris and state-owned oil firm Saudi Aramco, has ordered two newbuild jackup rigs. 1. 7023598) with its corporate headquarters located at 110 Cannon Street, London EC4N 6EU. Shares of Valaris rallied more than 12% by 3 p. Oil & Gas Drilling is number 145 out of 148 industries. Wednesday, August 19 Valaris Plc, Houston, TX. 1 billion in secured debt, citing the energy sector's downturn and the coronavirus pandemic as key influences on the company's decision to Find real-time VALPQ - Valaris PLC stock quotes, company profile, news and forecasts from CNN Business. Operating a high-quality rig fleet of ultra-deepwater drillships, versatile semisubmersibles and modern shallow-water jackups, Valaris has experience operating in nearly every major offshore basin. 00 (0. LONDON, Aug. The offshore drilling company had revenue of $456. In the same time, Valaris has scrapped five rigs in operation for a decade or less, including one after just eight years. Over the past year, Noble scrapped four rigs that had been in operation for 11 years or less. 22) earnings per share for the quarter, topping the Zacks' consensus estimate of ($1. Risk & Volatility Valaris has a beta of 2. VAL Valaris $0. Unnamed sources told the news agency that Valaris has already appointed restructuring advisors. London-based Ensco PLC completed its multibillion-dollar acquisition of Houston’s Rowan Companies PLC in April 2019, becoming Ensco Rowan PLC. 25 from the previous closing price of $0. Valaris has filed for Chapter 11 bankruptcy. The Valaris DS4 was moored at Hunterston Terminal, at Fairlie, in the narrow waters between the mainland and the Isle of Cumbrae. Follow VAL. EST on Monday. 2 billion. 31 B in annual revenue in FY 2018. Under the amendmnet, it was agreed to extend each delivery date to 31 December 2023, while giving the company the option to take delivery early or terminate the contracts on a non-recourse basis. Valaris Plc, Houston, TX. 3550, Change: +0. In June 2019, Luminus had called on Valaris to offer $2. In yet another sign of the oil industry’s woes, London-based Valaris, the world’s largest oil-rig owner by fleet size, went bankrupt last year and sold the rig for the bargain-basement price According to the news agency, coastguard rescue teams, vessels, and a helicopter were dispatched to the scene, and no injuries have been reported. What's going on at Valaris (OTCMKTS:VAL)? View breaking news headlines for VAL stock from trusted media outlets at MarketBeat. Drill ship Valaris-DS4 (IMO 9459943) was only 15 minutes away from hitting the island of Cumbrae, close to two nuclear power stations – Hunterston A and Hunterston B – after it broke its moorings in stormy weather at the Hunterston Terminal in the Firth of Clyde on February 2nd, going adrift as a result (IMN, February 5th 2021). PR Newswire Valaris Receives Court Approval of Chapter 11 Plan of Reorganization Valaris plc Announces Amended Restructuring Support Agreement and Backstop Commitment Agreement Provided About Valaris plc Valaris plc (NYSE: VAL) is the industry leader in offshore drilling services across all water depths and geographies. VAL | A complete Lyxor ETF MSCI EMU Value exchange traded fund overview by MarketWatch. 5 billion in bonds to fund a special dividend. Valaris news and VAL price. Home / Shipping News / Shipbuilding News / Valaris bankruptcy unnerves DSME, Samsung Heavy. RCF is capped at $630M per forbearance agreement. 8, 2021 /PRNewswire/ -- Valaris plc (OTC: VALPQ) ("Valaris" or, together with certain of its LONDON, Feb. Free real-time prices, trades, and chat. In addition The No. 25% half cash, half paid-in-kind coupon, or a 12% paid-in-kind coupon, all at the company’s election. 634. Operating a high-quality rig fleet of ultra-deepwater drillships, versatile semisubmersibles and modern shallow-water jackups, Valaris has experience operating in nearly every major offshore basin. 8, 2021 /PRNewswire/ -- Valaris plc (OTC: VALPQ) ("Valaris" or, together with certain of Valaris Receives Court Approval of Chapter 11 Plan of Reorganization Plan to Deleverage Balance Sheet by Over $6. Valaris News . Offshore Engineer has reached out to Valaris and Valaris will receive a $520 million capital injection through the issuance of a $550 million secured note maturing in 2028. Free real-time prices, trades, and chat. The company reported ($0. 01 billion, or $15. -based Valaris, 8, according to IHS Markit data. 5bn debt, recently hired corporate restructuring experts. The world's largest offshore drilling contractor is the latest company in that sector to go this route because of this year's steep decline in oil A high-level overview of Valaris plcA (VALPQ) stock. At Valaris, our core purpose is to provide responsible solutions that deliver energy to the world. Valaris is a huge company, and the results of its restructuring will have a significant impact on the whole industry. 5 Billion Restructuring Survives Hedge-Fund Lawsuit The Wall Street Journal Interactive Edition. 56) by $0. 71%). 21. 7 Yet, the Get Valaris PLC (VALPQ:OTCPK) real-time stock quotes, news, price and financial information from CNBC. DOW 33,153. 17, indicating that its share price is 117% Valaris has 5,800 employees across 10 locations and £1. Valaris plc (OTC: VALPQ) ("Valaris" or the "Company") today announced that it has received approval from the United States Bankruptcy Court for the Southern District of Texas of its prearranged Plan of Reorganization (the "Plan"). 375% Senior Notes due 2025. "Valaris was granted a waiver by revolver lenders for the June 1 & June 15 interest payments — without this [the company] would technically have defaulted on the facility," Credit Suisse analyst Jacob Lundberg said June 5. valaris. Valaris said on Wednesday that it voluntarily filed for a Chapter 11 financial restructuring in the United States Bankruptcy Court for the Southern District of Texas. 5 billion debt-for-equity swap that hands over ownership of most of the According to a Tuesday report by CNBC, SpaceX bought two Valaris rigs, Valaris 8500 and Valaris 8501, to support the enormous Starship rockets that the company is developing. Second Amendment to the Restructuring Support Agreement. An arbitration tribunal initially awarded the offshore Get the latest Valaris PLC (VALPQ) real-time quote, historical performance, charts, and other financial information to help you make more informed trading and investment decisions. 7 days. 8, 2021 /PRNewswire/ -- Valaris plc (OTC: VALPQ) ("Valaris" or, together with certain of its affiliates, the "Company") today announced that, on February 5, 2021, the Company, certain To remind, Valaris filed for bankruptcy protection in an attempt to restructure its debt back in August 2020. Already have an account? Name: Email Address: Investors in Valaris plc VAL need to pay close attention to the stock based on moves in the options market lately. According to Valaris, each new build will cost approximately $175m. Ensco takes delivery of newbuild 'ENSCO Valaris is the world’s largest offshore rig owner by fleet size, according to Bloomberg. If you experience any issues with this process, please contact us for further assistance. 23 Dec 2013. At Valaris, we promise to treat your data with respect and will not share your information with any third party. 25% half cash Valaris plc (NYSE: VAL) is the industry leader in offshore drilling services across all water depths and geographies. LONDON, Feb. The Company is in discussions with the customer Valaris also will receive a $520 million capital injection through the issuance of a $550 million secured note maturing in 2028. The case is Zhang v. Valaris plc reported Tuesday that it has won new contracts and contract Valaris, which is burdened with a $6. Valaris has won new contracts and contract extensions for three drillships, one semisubmersible and three jack-ups. Fueling the energy company's rise was news that an activist investor had boosted its stake in the offshore driller. Carey Lowe is stepping down as executive vice president and chief operating officer, effective Nov. K. Our purpose is the driving force The Valaris 108 team gathered early in 2021 with a simple commitment to achieve its customer's "Best Rig" rating in the first quarter. Operating a high-quality rig fleet of ultra-deepwater drillships, versatile semisubmersibles and modern shallow-water jackups, Valaris has experience operating in nearly every major offshore basin. 00 Call had some of the highest implied Apr 29, 2020 11:57PM EDT (RTTNews) - Valaris plc (VAL) reported a first-quarter net loss attributable to the company of $3. 5% in Pre-Market Before Halt 8:26AM ET 8/17/2020 MT Newswires Price: 0. The block is operated by the French oil firm Total. Transocean’s $1. The note includes the option of an 8. 5 billion in free cash flow for 2020 and 2021, and use up its entire cash balance and revolving credit line by the end of 2021, assuming its revolver remains Power has been restored to a drilling vessel which broke free from its moorings. Over the past year, Noble scrapped four rigs that had been in operation for 11 years or less. com Valaris plc (NYSE: VAL) is the industry leader in offshore drilling services across all water depths and geographies. Valaris plc (OTC: VALPQ) is the industry leader in offshore drilling services across all water depths and geographies. com OUR EXPERTS View today's stock price, news and analysis for Valaris PLC (VALPQ). 5% in Pre-Market Before Halt 8:26AM ET 8/17/2020 MT Newswires Price: 0. S. 00 / + (+0. Our purpose is the driving force that View %COMPANY_NAME% VAL investment & stock information. Share this article. 30. In the same time, Valaris has scrapped five rigs in operation for a decade or less, including one after just eight years. Valaris plc, et al. Over the past year the S&P 500 is higher by 3. com OUR EXPERTS What Is Valaris’s Net Debt? You can click the graphic below for the historical numbers, but it shows that as of June 2019 Valaris had US$7. K. 6% sequentially. In the same time, Valaris has scrapped five rigs in operation for a decade or less, including one after just eight years. QQQ Valaris (OTCPK:VALPQ) says it reached an agreement with bank lenders and unsecured bondholders to amend its restructuring plan and backstop commitment. Valaris (PK) news and VALPQ price. Valaris plc (VAL) Halted, News Pending. The Valaris 108 team gathered early in 2021 with a simple commitment to achieve its customer's "Best Rig" rating in the first quarter. Valaris has entered into a binding restructuring support agreement with about half of its noteholders and received $500 million in debtor-in-possession financing, the company said in a statement . 11:16 AM ET. About Valaris plc. Representatives for Valaris’s revolving credit lender Item 1. In the same time, Valaris has scrapped five rigs in operation for a decade or less, including one after just eight years. Valaris plc : 20-34114 : Schedule A/B: Property Non-Individual , Schedule D Non-Individual- Creditors Having Claims Secured by Property , Schedule E/F: Creditors Who Have Unsecured Claims Non-Individual , Schedule G Non-Individual- Executory Contracts and Unexpired Leases , Schedule H Non-Individual- Codebtors (Filed By Alpha Admiral Company ). The world's largest offshore drilling contractor is the latest company in that sector to go this route because of this year's steep decline in oil prices, following earlier filings by Noble Energy and Diamond Offshore Drilling. Valaris plc (NYSE: VAL) (“Valaris” or the “Company”) today announced that it has entered into a binding Restructuring Support Agreement (the “RSA”) and Backstop Commitment Agreement (the “BCA”) with approximately 50% of its noteholders (“Consenting Noteholders”). com - October 3 at 9:50 AM: Valaris announces $500M DIP term loan credit pact seekingalpha. yahoo. in Shipbuilding News 31/08/2020. 19, 2020 /PRNewswire/ -- Valaris plc (NYSE: VAL) ("Valaris" or the "Company") today announced that it has entered into a binding Restructuring Support Agreement (the "RSA") and Offshore driller Valaris Plc is seeking bankruptcy court approval to pay up to $11 million in bonuses for 12 top executives as it works to effect a restructuring of its $7 billion debt structure. 4% 2042 notes. 02, Percent Change: +7. 33 112. He expects Valaris to post negative $1. 02, Percent Change: +7. Valaris plc (NYSE: VAL) (“Valaris” or the “Company”) today reported net income attributable to the Company of $406 million, or $2. LONDON, Feb. , have also About Valaris plc Valaris plc (OTC: VALPQ) is the industry leader in offshore drilling services across all water depths and geographies. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the ‘unsubscribe’ section below. Valaris (NYSE: VAL) has filed for Chapter 11 bankruptcy. SPY 2. by Allister Thomas 06/01/2021, 7:50 am News Corp is a global, diversified media and information services company focused on creating and distributing authoritative and engaging content and other products and services. S&P 500 4,019. Valaris has tapped debt restructuring attorneys at law firm Kirkland & Ellis LLP for advice on ways to rework its roughly $6. The first calls to the Coastguard were made just after 7. Valaris Provides Update on Operations, Contracts and Guidance . 25% cash coupon, a 10. Valaris plc is an English limited company (England No. 5 million each. A mayday call was was received by the Coastguard at 19:22 on Houston-based Diamond Offshore has scrapped 22; Sugar Land-based Noble, 13; and U. About Offshore drilling contractor Valaris PLC, scheduled to seek an exit from chapter 11 next month, protected its exclusive control over its restructuring terms but didn’t get the four-month extension Offshore oil driller Valaris PLC is exploring debt restructuring options as it grapples with a rig accident and a broader collapse in energy prices, people familiar with the matter said on Friday. 05b. Valaris Plc, 19-cv-07816. An unknown company bought the Ensco 8500 and 8501 in July 2020, for $3. The restructuring process is set to be very challenging, and I have doubts Just the Facts. That is because the Aug 21, 2020 $1. The JV has placed the order with International Maritime Industries (IMI). 5 million quarterly change happened because of COVID-19 lockdown as the economy stopped demanding energy products. -based Valaris, 8, according to IHS Markit data. Case Number: 20-34114 (MI) Careers History News CONTACT 800. Valaris plc is an offshore drilling contractor headquartered in Houston, Texas, and incorporated in the UK. It can reflect on the current distribution of Valaris daily returns and investor perception about the current pice of Valaris Plc as well as its diversification or hedging effects on your existing portfolios. 1,590 likes · 51 talking about this. That’s bad news for the companies that get paid to drill by the producers. Valaris PLC's score of 77 means it scores higher than 77% of stocks in the industry. It also looks like the rights offering will be used to pay for the DIP financing. 18% while the S&P 500 is lower by -5. valaris. 20pm on Tuesday after the Valaris DS4 broke from its Valaris plc | 35,123 followers on LinkedIn. SpaceX Repurposing Oil Rigs From Bankrupt Valaris as Floating Launch Pads The rigs will hold the company's massive Starship rocket vehicles. 1 billion of existing debt and provide the offshore drilling contractor with a $520 million capital injection via the issuance of a $550 million secured Valaris plc (OTC: VALPQ) (“Valaris” or, together with certain of its affiliates, the “Company”) today announced that, on February 5, 2021, the Company, certain holders (“Noteholders”) of the Company’s outstanding unsecured notes (the “Senior Notes”) and certain bank lenders (“Bank Lenders”) under the Company’s revolving credit facility (the “Credit Facility”) entered into a second amendment to the Restructuring Support Agreement (the “RSA” and such amendment Valaris plc (OTC: VALPQ) (“Valaris” or the “Company”) today announced that it has received approval from the United States Bankruptcy Court for the Southern District of Texas of its prearranged Plan of Reorganization (the “Plan”). The world's largest offshore drilling contractor is the latest company in that sector to go this route because of this year's steep decline in oil prices, following earlier filings by Noble Energy and Diamond Offshore Drilling. com. A judge overseeing the bankruptcy of offshore driller Valaris on Monday rejected lender efforts to submit an alternative restructuring proposal ahead of a hearing to approve the company’s current On August 19, 2020, Valaris plc and 89 affiliated Debtors (NYSE: VAL), “the industry leader in offshore drilling services across all water depths and geographies," filed for Chapter 11 protection On August 19, 2020, Valaris plc, along with its affiliates, filed a voluntary petition for reorganization under Chapter 11 in the U. 93 on volume of 10,588,423 shares. Valaris: Waiting For A Rebirth | News Break Total revenues decreased to $285. 01 - Entry into a Material Definitive Agreement. Valaris filed for Chapter 11 protection in August with $7. Oil & Gas Drilling is ranked 144 out of the 148 industries. Use historical and current headlines to determine the investment entry and exit points. Offshore oil driller Valaris PLC is preparing to start talks with creditors to see if they can agree on terms for a possible bankruptcy filing, as it grapples with a $6. Houston-based Diamond Offshore has scrapped 22; Sugar Land-based Noble, 13; and U. 16 million. Operating a high-quality rig fleet of ultra-deepwater drillships, versatile VALARIS PLC : News, information and stories for VALARIS PLC | FINRA: VALPQ | FINRA Valaris, the world’s largest offshore drilling firm, has filed for Chapter 11 bankruptcy with a plan it said would reduce its debt by $6. Valaris will undergo a financial restructuring that is intended to reduce its debt load substantially, support continued operations during the current lower demand environment and provide a robust financial platform to take advantage of market recovery over the Find the latest news headlines from Valaris plc (VAL) at Nasdaq. 1 offshore rig operator in the world, Valaris plc, is seeking Chapter 11 protection in Houston, beset by the devastating impacts of Covid-19. Valaris Plc otc stock news, alerts, and headlines are usually related to their technical, predictive, social, and fundamental indicators. 875% 2022 notes and its 5. The note includes the option of an 8. The company's ticker symbol also will become "VAL" following the name change. 00%) 08/19/20 Valaris enters RSA, BCA with noteholders, files for Chapter 11 restructuring 08/17/20 Valaris Plc trading halted, news pending The Valaris 121 Jackup is managed by Valaris PLC, owned by Valaris PLC and became operational in 2013 News. Ensco Rowan announced this week that it will change its name to Valaris PLC, effective July 31. 3 million in Q3 from $551. To learn more, visit our website at www. The offshore drilling company reported ($1. They have utilized $588M of their RCF. Analyst Recommendations This is a summary of current ratings and target prices for Valaris and Valaris already elected not to make a June 1 interest payment on its 4. Q1 2020 Financial Report Negative $55. That means it scores higher than 36 percent of stocks. Valaris PLC (VAL) stock is up 27. 8, 2021 /PRNewswire via COMTEX/ -- LONDON, Feb. The combined company then Valaris PLC NYSE Updated Aug 19, 2020 4:00 AM. Operating a high-quality rig fleet of ultra-deepwater drillships, versatile semisubmersibles and modern shallow-water jackups, Valaris has experience operating in nearly every major offshore basin. com. Other offshore drilling companies, such as Noble Corp. About Kahn Swick & Foti, LLC Company News Petrofac streamlines Valaris drilling training/competency Petrofac has implemented its SkillsVX learning and competency software for Valaris, supporting the drilling service company’s 7,000 employees globally to manage their educational needs. 66 (99. December 15, 2020 – The Debtors’ filed their second amended Chapter 11 Plan of Reorganization and a related Disclosure Statement, showing changes to the versions filed on December 11, 2020 LONDON, March 3, 2021 /PRNewswire/ -- Valaris plc (OTC: VALPQ) ("Valaris" or the "Company") today announced that it has received approval from the United States Bankruptcy Court for the Southern Valaris’ recent bond tender destroyed hundreds of millions of equity value: One of the supposed benefits of the Ensco-Rowan merger was additional liquidity for the combined Company. . The price of European oil contracts and stocks slipped following the unprecedented fall in US crude prices. Offshore Oil-Rig Operator Noble Cleared to Exit Chapter 11 The Wall Street Journal Interactive Edition. Covering the latest oil and gas news including shale, lng, drilling, exploration and production. VAL gets an overall rating of 36. Valaris financial news headlines. In late September 2020, Valaris executed a new term loan credit agreement, gaining access to additional liquidity as it is working through its Chapter 11 bankruptcy process. 8, 2021 /PRNewswire/ -- Valaris plc (VALPQ) ("Valaris (VALPQ)" or, together with certain of its affiliates, the "Company") today announced that, on February 5, 2021, the Company, certain holders ("Noteholders") of the Company's outstanding unsecured notes (the "Senior Notes") and certain bank lenders ("Bank Lenders") under the Company's revolving credit facility (the "Credit Facility") entered into a second amendment to the Restructuring Support Agreement (the "RSA" and such Pollution fears as drilling ships 'here for the long haul' Largs & Millport News 15:09 18-Jan-21 Elon Musk’s SpaceX buys two Valaris rigs to build rocket launchpads Offshore Energy 13:57 20-Jan-21 Elon Musk’s SpaceX buys Valaris rigs to build floating launchpads Splash 24/7 08:10 20-Jan-21 Real time Valaris plc (VAL) stock price quote, stock graph, news & analysis. Gulf of Mexico, Valaris’ fleet status report shows. 12, 2019 /PRNewswire/ -- Valaris plc (NYSE: VAL) ("Valaris" or the "Company") today announced a Board refreshment program, enhancements to the Company's corporate governance and a new How has Valaris's share price performed over time and what events caused price changes? Latest Share Price and Events Stable Share Price : VALP. Valaris PLC (VAL) on Tuesday said P. K. Thursday, December 17, 2020. About Valaris plc. Operating a high-quality rig fleet of ultra-deepwater London-based Valaris Plc, owner of the world’s largest offshore rig fleet, became the latest casualty on Wednesday. The London provider of offshore contract drilling Workers were evacuated from a Valaris oil rig after a Covid outbreak on board on New Year’s Day, with questions raised on testing procedures. 5 billion special dividend, Valaris has engaged with more than 20 of our top shareholders, many of whom expressed strong concerns regarding Luminus' ideas. 99b, over one year. -based Valaris, 8, according to IHS Markit data. 1,639 likes · 129 talking about this. 0%) Upgrade to Real-Time Regular Market . Valaris PLC also received an overall rating of 36, putting it above 36% of all stocks. Houston-based Diamond Offshore has scrapped 22; Sugar Land-based Noble, 13; and U. 1 billion in funded debt, citing the energy sector's downturn and the coronavirus pandemic as key factors in the company's decision to --Valaris Halted, News Pending - Shares Last Up 7. Breaking news headlines about Valaris linking to 1,000s of websites from around the world By clicking "OK" or continuing to use this site, you agree that we may collect and use your personal data and set cookies to improve your experience and customise advertising. Barron's also provides information on historical stock ratings, target prices, company earnings, market valuation and more. Stay up to date on the latest stock price, chart, news, analysis, fundamentals, trading and investment tools. The backlog indicated by the company for 3Q'20 is now $1. See insights on Valaris including office locations, competitors, revenue, financials, executives, subsidiaries and more at Craft. Valaris plc (NYSE: VAL) is the industry leader in offshore drilling services across all water depths and geographies. On this news, the price of Valaris’ shares plummeted. 25% cash coupon, 10. Last week news agency Reuters reported that Valaris was exploring bankruptcy measures in order to survive the impact of unprecedented low oil prices in the US, and 20-year lows for the Breaking news headlines about Valaris linking to 1,000s of websites from around the world By clicking "OK" or continuing to use this site, you agree that we may collect and use your personal data and set cookies to improve your experience and customise advertising. 5 billion debt burden and Valaris, which was created last year out of the combination of Ensco and Rowan Companies, has seen its market capitalization dip below $100 million from a peak of $3. 8, 2021 /PRNewswire/ -- Valaris plc (OTC: VALPQ) ("Valaris" or, together with certain of its affiliates, the "Company") today announced that, on February 5, 2021, the Company, certain LONDON, Sept. Valaris did not immediately respond. 89% as of 10:14 AM on Friday, Jun 12. 7% of Valaris’ shares, promised to hold on to a certain number of shares in order to keep the board seat and to support Valaris’ slate at In yet another sign of the oil industry’s woes, London-based Valaris, the world’s largest oil-rig owner by fleet size, went bankrupt last year and sold the rig for the bargain-basement price Valaris plc (OTC: VALPQ) (“Valaris” or the “Company”) today announced that it has received approval from the United States Bankruptcy Court for the Southern District of Texas of its prearranged Plan of Reorganization (the “Plan”). But other oil companies emphasized that every staffing reduction made in recent months was done with an eye on one thing: ensuring the safety of Valaris entered a binding restructuring support agreement and backstop commitment agreement with approximately 50% of its noteholders. 09b in cash, and so its net debt is US$6. Before they were bought, the two rigs were preservation stacked in the U. All major European country indexes slipped after the plunge in prices. Create your free account. Houston-based Diamond Offshore has scrapped 22; Sugar Land-based Noble, 13; and U. 5billion. 1 billion restructuring plan at the London-based offshore contractor’s debut chapter 11 hearing. with a proposed $6. -based Valaris, 8, according to IHS Markit data. Valaris plc Announces Amended Restructuring Support Agreement and Backstop Commitment Agreement Company Expected to Emerge with Robust Financial Foundation via Equitization of $7. 95%. It was a good news/bad news launch: While the Valaris said that the company has loss of hire insurance for the Valaris DS-8 drillship and will seek to recover losses incurred. 25, 2019 /PRNewswire/ -- Valaris plc (NYSE: VAL) ("Valaris" or the "Company") announced today new contracts and contract extensions, with associated revenue backlog of approximately $285 million, awarded subsequent to a prior fleet status report dated October 25, 2019. 634. S. 15b of debt, an increase on US$4. Valaris, headquartered in Houston, Texas, and the world's largest owner VALPQ | Complete Valaris PLC stock news by MarketWatch. A rating of 77 puts Valaris PLC near the top of the Oil & Gas Drilling industry according to InvestorsObserver. 1,646 likes · 34 talking about this. Caption: Drillship Valaris DS4 - Image courtesy of Arjan Elmendorp According to BBC, which was the first to report on the incident on Wednesday, "a major rescue operation has been ongoing overnight," when the 228 meters drillship, Valaris DS4, broke free and started drifting without power. UK-based offshore service provider Valaris is reported to be considering its bankruptcy options, after weeks of cuts to its contracts. On March 19, 2020, the Company received a termination notice for the drilling contract for VALARIS DS-8. Get the latest Valaris (VALPQ) stock price quote with real-time news, financials, charts and other important investing information. Offshore Engineer has reached out to Valaris and Maritime and Coastguard Agency, seeking more info. At Valaris, our core purpose is to provide responsible solutions that deliver energy to the world. Case Number: 20-34114 (MI) Careers History News CONTACT 800. 355 0. The leading global oil, gas and energy news resource. The drilling contractor reported the VALARIS DS-4, VALARIS DS-11, VALARIS DS-17 (Reliance), and VALARIS 8504 are in the process of being preservation stacked. 25 per share, or approximately 39%, over the two trading sessions following the Company’s announcement of its quarterly financial results, to close --Valaris plc today announced that, on February 5, 2021, the Company, certain holders of the Company's outstanding unsecured notes and certain bank lenders under the Company's revolving credit News. According to MarineTraffic data, the drillship is located at Block 32, offshore Angola near the Kaombo Sul FPSO. View real-time stock prices and stock quotes for a full financial overview. Valaris plc (NYSE: VAL) is the industry leader in offshore DSME and Valaris Plc, the world’s largest offshore drilling contractor, on Tuesday, agreed to push back the delivery deadline Recent News BoE’s Vlieghe says economy will need help even LONDON, Feb. We provide responsible solutions that deliver energy to the world | We Are Valaris With decades of expertise and strategic commitment built on LONDON, Nov. Annual Report (10-k) March 02 2021 - 07:28AM Edgar (US Regulatory) UNITED STATES LONDON, Feb. Many technical investors use Valaris Plc stock news signals to limit their universe of possible portfolio assets and to time the market correctly. 7734 support@stretto. Jul 7th, 2020 Valaris has a loss of hire insurance for $602,500 per day after the expiration of a 45-day deductible waiting period through the end of the contract in November 2020. Valaris Plc, Houston, TX. Valaris plc (OTC: VALPQ) ("Valaris" or, together with certain of its affiliates, the "Company") today announced that, on February 5, 2021, the Company, certain holders ("Noteholders") of the LONDON, March 3, 2021 /PRNewswire/ -- Valaris plc (OTC: VALPQ) ("Valaris" or the "Company") today announced that it has received approval from the United States Bankruptcy Court for the Southern LONDON, Nov. So what Valaris announced that it has received a $200 million cash payment as a result of a previously disclosed arbitration proceeding with a vendor. As of February 26th, there was short interest totalling 1,961,900 shares, a decrease of 26. Offshore drilling contractor Valaris said Monday it had elected not to make the $13. 50 million during the quarter. LONDON – Valaris plc has issued an update on its offshore drilling rig fleet. Share this article. NYSE:VAL Historical Debt, September 6th 2019 Valaris PLC is near the top in its industry group according to InvestorsObserver. Restructuring Support Agreement. 7,808 Valaris (Source: Valaris 2Q 2020 report Valaris’ plan is to equitize its debt and wipe out the common equity, while relying on the $500 million of DIP financing during the transition period. 7734 support@stretto. Valaris, offshore drilling contractor with the world’s largest fleet, has filed for bankruptcy protection in an attempt to restructure its debt. Valaris Receives Court Approval of Chapter 11 Plan of Reorganization finance. To receive regular updates on Valaris news or SEC filings, please sign-up for Email Alerts on the Company's website. StreetInsider. 87. View the latest ETF prices and news for better ETF investing. This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings. Valaris Stock News module provides quick insight into current market opportunities from investing in Valaris Plc. Valaris did not respond to a request for comment. 21. Valaris PLC gets a 85 rank in the Oil & Gas Drilling industry. and Diamond Offshore Drilling Inc. The company earned $296. 0 Billion of LONDON, March 3, 2021 /PRNewswire/ -- Valaris plc (OTC: VALPQ) ("Valaris" or the "Company") today announced that it has received approval from the United States Bankruptcy Court for the Southern News provided by. 3 million in the year-ago quarter and are down 26. 66) EPS for the quarter, missing the Zacks' consensus estimate of ($1. Cox has awarded the jackup VALARIS JU-87 a one-well extension in the US Gulf of Mexico. The Fleet Status Report can be found on the "Investors" section of the Company's website www. London, England, March 26, 2020 … Valaris plc (NYSE: VAL) (“Valaris” or the “Company”) announced today that he Company continues actively working to recover or replace the blowout t preventer (BOP) stack on VALARIS DS-8 following a non-drilling incident earlier this month. At Valaris, our core purpose is to provide responsible solutions that deliver energy to the world. In yet another sign of the oil industry’s woes, London-based Valaris, the world’s largest oil-rig owner by fleet size, went bankrupt last year and sold the rig for the bargain-basement price About Valaris plc. On Tuesday, Reuters reported that Valaris was preparing for talks with creditors to agree bankruptcy terms. On Monday, Citi analyst JB Lowe, who just took over coverage of the stocks, downgraded shares of two offshore drillers, Latest news headlines for Valaris Plc with market analysis and analyst commentary. Valaris bankruptcy unnerves DSME, Samsung Heavy. 10. 19 per share, compared to a net loss of $216 million, Stock analysis for Valaris plc (VALPQ:OTC US) including stock price, stock chart, company news, key statistics, fundamentals and company profile. An #incidentfree operation is a big part of this rating by --Valaris Halted, News Pending - Shares Last Up 7. LONDON-- (BUSINESS WIRE)--Valaris plc (NYSE: VAL) (“Valaris” or the “Company”) today announced that the Company has published a new investor presentation, which provides an update on market Valaris plc (NYSE: VAL) ("Valaris" or the "Company") today issued a quarterly Fleet Status Report that provides the current status of the Company's fleet of offshore drilling rigs along with certain contract information for these assets. Valaris missed 3 interest payments, and obtained waivers, now until 15-Aug 20. Valaris PLC, a London-based offshore drilling contractor, filed for bankruptcy Wednesday in the U. Valaris plc (NYSE: VAL) ("Valaris" or the "Company") announced today that the Company continues actively working to recover or replace the blowout preventer (BOP) stack on VALARIS DS-8 following a non-drilling incident earlier this month. 01 Entry into a Material Definitive Agreement. 12:32 PM ET. S. 43) by $1. Our purpose is the driving force that On this news, Valaris’s stock price fell $3. Operating a high-quality rig fleet of ultra-deepwater drillships, versatile semisubmersibles and modern shallow-water jackups, Valaris ( VALPQ ) has experience operating in nearly every major offshore basin. Valaris (OTCMKTS:VALPQ) and Pacific Drilling (OTCMKTS:PACDQ) are both small-cap transportation companies, but which is the better business? We will compare the two companies based on the strength of their valuation, risk, earnings, dividends, institutional ownership, profitability and analyst recommendations. com - September 28 at 1:08 PM: Valaris says more than 70% of note holders support restructuring A Valaris drillship - Credit:RF/MarineTraffic. On August 18, 2020, Valaris plc (the "Company") and certain of the Company's wholly owned direct and indirect subsidiaries (collectively, "Valaris") entered into a Restructuring Support Agreement (the "RSA") with certain holders (collectively, the "Consenting Noteholders") of the following series of the Valaris (OTCMKTS:VALPQ) and Transocean (NYSE:RIG) are both transportation companies, but which is the superior business? We will compare the two companies based on the strength of their profitability, valuation, institutional ownership, dividends, analyst recommendations, risk and earnings. com - March 3 at 6:46 PM: Valaris plc (VALPQ) finance. Based on an average trading volume of 2,676,200 shares, the short-interest ratio is presently 0. Namely, for the period between the company's last fleet status report that was filed on February 13, 2020, and the beginning of March, Valaris has executed new contracts and contract extensions with associated revenue backlog of approximately $100 million: Since Valaris Plc (NYSE:VAL) has witnessed bearish sentiment from the entirety of the hedge funds we track, we can see that there is a sect of money managers who sold off their positions entirely View the latest Valaris PLC (VALPQ) stock price, news, historical charts, analyst ratings and financial information from WSJ. Valaris plc (OTCMKTS:VAL) announced its earnings results on Wednesday, April, 29th. Valaris plc (OTC: VALPQ) ("Valaris" or the "Company") today announced that, on September 25, 2020, the Company entered into a $500 million Debtor-in-Possession ("DIP") term loan agreement with Valaris Plc (OTCPK:VALPQ) and certain of its direct and indirect subsidiaries filed on August 19, 2020, voluntary petitions for reorganization under Chapter 11 of the United States Bankruptcy Code Valaris plc (OTC: VALPQ) ("Valaris" or the "Company") today announced that holders of over 70% in aggregate principal amount of its senior notes (the "Consenting Noteholders") have now executed the Valaris plc (OTCMKTS:VALPQ) released its quarterly earnings results on Tuesday, March, 2nd. Monday, November 23, 2020. Bankruptcy Court for the Southern District of Texas. Valaris plc Feb 08, 2021, 07:00 ET. Over the past year, Noble scrapped four rigs that had been in operation for 11 years or less. Item 1. The New York-based hedge fund, which owns roughly 18. An #incidentfree operation is a big part of this rating by the customer, and the team is set on doing whatever it takes to work in 2021 without the occurrence of an incident. 5 million each. Valaris plc (OTCMKTS:VALPQ) saw a large decrease in short interest during the month of February. Descriptions in this news article were not prepared by S&P Global Ratings. It is the largest offshore drilling and well drilling company in the world, and owns 74 rigs, including 50 offshore jackup rigs , 16 drillships , and 8 semi-submersible platform drilling rigs . HM Coastguard told the BBC that the Valaris DS-4 is now temporarily anchored off Hunterston. 82% while VAL is lower by -83. The offshore drilling company has shared some good news as well. As of February 26th, there Valaris plc announced that it has received approval from the United States Bankruptcy Court for the Southern District of Texas of its prearranged Plan of Reorganization (the "Plan"). 09 per share, for se Two former Valaris rigs are set for a new role – as launch sites for SapceX’s next generation of rockets. Operating a high-quality rig fleet of ultra-deepwater drillships, versatile Offshore drilling contractor Valaris has been hit with a slew of contract terminations, and dayrate and term reductions, its rig quarterly fleet status update released on Wednesday shows. VAL is up $0. According to the news agency, coastguard rescue teams, vessels, and a helicopter were dispatched to the scene, and no injuries have been reported. Since Luminus' June 2019 announcement demanding that Valaris take on significant leverage and pay a $2. Over the past year, Noble scrapped four rigs that had been in operation for 11 years or less. com Top Tickers, 10/1/2020. valaris news