Saudi Aramco Extends Contract for Drilling Rig
Saudi Aramco has extended its contract for a Valaris Limited (NYSE: VAL) standard-duty jack-up rig, Valaris reported Wednesday.
Under the latest award, Aramco secures the VALARIS JU-140 for an additional 183 days, Valaris noted in a written statement emailed to Rigzone. Because the award extends the current contract, Valaris now expects the rig to be leased through the end of this year.
The JU-140 is designed to operate in 351 to 384 feet (107 to 117 meters) of water and drill to 30,000 feet (9,144 meters), according to information on Valaris’ website.
To contact the author, email mveazey@rigzone.com.
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