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Valaris plc

Logo: Valaris Limited, Public domain, via Wikimedia Commons4

Offshore drilling contractor

Valaris Limited (previously ENSCO-Rowan plc) is an offshore drilling contractor headquartered in Houston, Texas, and incorporated in Bermuda. It is the largest offshore drilling and well drilling company in the world. As of February 2025, it owned 52 rigs, including 36 offshore jackup rigs, 11 drillships, and 5 semi-submersible platform drilling rigs.3 Wikipedia text CC BY-SA 4.0

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Last updated Oct 21, 2026.

Overview

1987Founded1

Compare with HighPeak Energy, Inc., Borr Drilling Ltd or Diamond Offshore Drilling, or pick any stock.

  • TickerVAL on NYSE1
  • Industrypetroleum industry1
  • HeadquartersLondon1
  • Websitewww.valaris.com/home/default.aspx
  • Legal formpublic limited company1
  • Business addressRichmond House, 12 Par-La-Ville Road, Hamilton, Hm 085
  • Filer categoryLarge accelerated filer5

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Valaris Limited (previously ENSCO-Rowan plc) is an offshore drilling contractor headquartered in Houston, Texas, and incorporated in Bermuda. It is the largest offshore drilling and well drilling company in the world. As of February 2025, it owned 52 rigs, including 36 offshore jackup rigs, 11 drillships, and 5 semi-submersible platform drilling rigs.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

4008.4%Operating margin8
8258.8%Net margin8
24.0%Revenue growth, 20258
31.0%Return on equity8
0.34×Debt to equity8
$202.7MFree cash flow8

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Business segments

Floaters brought in 43% of the revenue Valaris plc broke down this way in fiscal 2025.

  1. Floaters$1.3B843%down 13% from 2024
  2. Jackups$912.8M831%up 21% from 2024
  3. ARO$571.0M819%up 11% from 2024
  4. Other Operating$195.6M87%up 17% from 2024
Business segments by year
Business segments202320242025
Floaters$948.7M$1.4B$1.3B
Jackups$659.6M$754.9M$912.8M
ARO$496.6M$512.5M$571.0M
Other Operating$175.9M$167.0M$195.6M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue54¢$1.6B
  • Income tax14¢$426.8M
  • Profit32¢$982.8M

Out of $11.9M in revenue.8

Where each dollar of operating cash went, fiscal 2025

  • Capital spending63¢$343.5M
  • Share buybacks18¢$100.0M
  • Kept or used elsewhere19¢$102.7M

Out of $546.2M of cash from operations.8

Financial statements

Revenue91011128$11.9M in 2025−99% since 2019
0$1.0B$2.0B$3.0B2019: $2.1B$2.1B20192020: $1.4B$1.4B2020−30%2022: $9.2M$9.2M2022−99%2023: $8.4M$8.4M2023−9%2024: $9.6M$9.6M2024+14%2025: $11.9M$11.9M2025+24%
Operating income910128$477.0M in 2025
-$6.0B-$4.0B-$2.0B0$2.0B2019: -$669.8M-$669.8M20192020: -$4.3B-$4.3B2020+547%2022: $37.2M$37.2M20222023: $53.5M$53.5M2023+44%2024: $352.3M$352.3M2024+559%2025: $477.0M$477.0M2025+35%
Net income910128$982.8M in 2025
-$6.0B-$4.0B-$2.0B0$2.0B2019: -$198.0M-$198.0M20192020: -$4.9B-$4.9B2020+2352%2022: $176.5M$176.5M20222023: $865.4M$865.4M2023+390%2024: $373.4M$373.4M2024−57%2025: $982.8M$982.8M2025+163%

Every line of the income statement as filed: the last 3 fiscal years, latest first.8

Period ending2025-12-312024-12-312023-12-31
Revenues Excluding Reimbursable Revenues$2.2B$2.2B$1.7B
Reimbursable Revenues$161.1M$150.7M$108.2M
Total operating revenues$2.4B$2.4B$1.8B
Contract Drilling Expenses Exclusive of Depreciation and Reimbursable Expenses$1.5B$1.6B$1.4B
Reimbursable Expenses$152.6M$142.4M$103.2M
Cost of Product and Service Sold$1.6B$1.8B$1.5B
Loss on impairment$27.3M$0$0
Depreciation$146.3M$122.1M$101.1M
General and administrative$97.1M$116.3M$99.3M
Total operating expenses$1.9B$2.0B$1.7B
EQUITY IN EARNINGS (LOSSES) OF ARO$8.4M-$11.0M$13.3M
OPERATING INCOME$477.0M$352.3M$53.5M
Interest income$70.8M$86.1M$101.4M
Interest expense, net$98.8M$84.8M$68.9M
Other, net$103.3M$16.6M-$1.8M
Other income (expense), net$75.3M$17.9M$30.7M
INCOME BEFORE INCOME TAXES$552.3M$370.2M$84.2M
Current income tax expense$88.3M-$5.4M$3.8M
Deferred income tax expense (benefit)-$515.1M$5.8M-$786.4M
Total provision for income taxes-$426.8M$400.0K-$782.6M
NET INCOME$979.1M$369.8M$866.8M
NET (INCOME) LOSS ATTRIBUTABLE TO NONCONTROLLING INTERESTS$3.7M$3.6M-$1.4M
NET INCOME ATTRIBUTABLE TO VALARIS$982.8M$373.4M$865.4M
Basic$13.92$5.18$11.68
Diluted$13.86$5.12$11.51
Basic70.6M shares72.1M shares74.1M shares
Diluted70.9M shares72.9M shares75.2M shares

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Corporate structure

Valaris plc sits at the top of its group. 133 entities, 27 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Valaris plc

  • OAK HILL ADVISORS LP Filed SCHEDULE 13D/A on Valaris plc, latest Aug 12, 2026 (4 filings since Aug 9, 2023)
  • Lingotto Investment Management LLP Filed SCHEDULE 13G/A on Valaris plc, latest Aug 10, 2026
  • VANGUARD GROUP INC Filed SCHEDULE 13G/A on Valaris plc, latest Mar 27, 2026 (3 filings since Nov 4, 2024)
  • Transocean Filed SCHEDULE 13D on Valaris plc, latest Feb 13, 2026
  • Famatown Finance Ltd Filed SCHEDULE 13D/A on Valaris plc, latest Feb 11, 2026 (8 filings since Dec 23, 2021)
  • ORBIS INVESTMENT MANAGEMENT LTD Filed SCHEDULE 13G/A on Valaris plc, latest Feb 14, 2025 (3 filings since Feb 14, 2024)
  • FMR LLC Filed SCHEDULE 13G/A on Valaris plc, latest Feb 12, 2025 (2 filings since Feb 9, 2024)
  • BlackRock Filed SCHEDULE 13G/A on Valaris plc, latest Feb 6, 2025 (4 filings since Feb 10, 2023)
  • N.v. Exor Filed SCHEDULE 13G on Valaris plc, latest Jan 13, 2025
  • GOLDENTREE ASSET MANAGEMENT LP Filed SC 13G/A on Valaris plc, latest Feb 13, 2023 (2 filings since Feb 10, 2022)
  • Lodbrok Capital LLP Filed SC 13G/A on Valaris plc, latest Jan 19, 2023 (2 filings since Feb 14, 2022)
  • Valaris plc London
    • Alpha Achiever Company S.à r.l. Subsidiary · Luxembourg
    • Alpha Admiral Company S.à r.l. Subsidiary · Luxembourg
    • Alpha Archer Company S.à r.l. Subsidiary · Luxembourg
    • Alpha International Drilling Company S.à r.l. Subsidiary · Luxembourg
    • Alpha Offshore Drilling Services Company Subsidiary · Cayman Islands
    • Alpha Offshore Drilling Services Company (Ghana) Limited Subsidiary · Ghana
    • Alpha Orca Company S.à r.l. Subsidiary · Luxembourg
    • ATLANTIC MARITIME SERVICES LLC Subsidiary · Delaware, United States
    • Atwood Advantage S.à r.l. Subsidiary · Luxembourg
    • Atwood Beacon S.à r.l. Subsidiary · Luxembourg
    • Atwood Oceanics (M) Sdn. Bhd. Subsidiary · Malaysia
    • Atwood Offshore Drilling Limited Subsidiary · Hong Kong
    • Atwood Offshore Worldwide Limited Subsidiary · Cayman Islands
    • Aurora Offshore Services Gmbh Subsidiary · Germany
    • C.A. Foravep, Forasol Venezuela de Perforaciones Subsidiary · Venezuela
    • Clearways Offshore Drilling Sdn. Bhd. Subsidiary · Malaysia
    • Drillquest Offshore Company Subsidiary · Cayman Islands
    • Durand Maritime S.A.S. Subsidiary · France
    • ENSCO (Bermuda) Limited Subsidiary · Bermuda
    • Ensco (Thailand) Limited Subsidiary · Thailand
    • ENSCO Arabia Company Limited Subsidiary · Saudi Arabia
    • ENSCO Asia Company LLC Subsidiary · Texas, United States
    • ENSCO Asia Pacific Pte. Limited Subsidiary · Singapore
    • ENSCO Corporate Resources LLC Subsidiary · Delaware, United States
    • ENSCO de Venezuela, S.R.L. Subsidiary · Venezuela
    • and 107 more

Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Valaris plc reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$2.6B8 Dec 31, 2025$2.3B8 Dec 31, 2024+12.5%
Accumulated depreciation$509.5M8 Dec 31, 2025$376.5M8 Dec 31, 2024+35.3%
Property and equipment, net$2.1B8 Dec 31, 2025$1.9B8 Dec 31, 2024+8.1%
Operating-lease assets (leased space)$69.3M8 Dec 31, 2025$84.5M8 Dec 31, 2024−18.0%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$599.4M8 Dec 31, 2025$368.2M8 Dec 31, 2024+62.8%

Properties, in its own words

Contract Drilling Fleet

The following table provides certain information about the rigs in our drilling fleet as of February 17, 2026:

The rest of Item 2

Rig Name · Rig Type · Year Delivered · Design · Maximum Water Depth/Drilling Depth · Location · Status

VALARIS DS-4 · Drillship · 2010 · Dynamically Positioned · 12,000'/40,000' · Brazil · Under contract

VALARIS DS-7 · Drillship · 2013 · Dynamically Positioned · 10,000'/40,000' · Angola · Under contract

VALARIS DS-8 · Drillship · 2015 · Dynamically Positioned · 12,000'/40,000' · Brazil · Under contract

VALARIS DS-9 · Drillship · 2015 · Dynamically Positioned · 12,000'/40,000' · Angola · Under contract

VALARIS DS-10 · Drillship · 2017 · Dynamically Positioned · 12,000'/40,000' · Spain · Future contract

VALARIS DS-11 · Drillship · 2013 · Dynamically Positioned · 12,000'/40,000' · Spain · Preservation stacked(1)

VALARIS DS-12 · Drillship · 2013 · Dynamically Positioned · 12,000'/40,000' · Spain · Future contract

VALARIS DS-13 · Drillship · 2023 · Dynamically Positioned · 12,000'/40,000' · Spain · Preservation stacked(1)

VALARIS DS-14 · Drillship · 2023 · Dynamically Positioned · 12,000'/40,000' · Spain · Preservation stacked(1)

VALARIS DS-15 · Drillship · 2014 · Dynamically Positioned · 12,000'/40,000' · Spain · Future contract

VALARIS DS-16 · Drillship · 2014 · Dynamically Positioned · 12,000'/40,000' · Gulf of America · Under contract

VALARIS DS-17 · Drillship · 2014 · Dynamically Positioned · 12,000'/40,000' · Brazil · Under contract

VALARIS DS-18 · Drillship · 2015 · Dynamically Positioned · 12,000'/40,000' · Gulf of America · Future contract

VALARIS DPS-1 · Semisubmersible · 2012 · Dynamically Positioned · 10,000'/35,000' · Malaysia · Held for sale

VALARIS MS-1 · Semisubmersible · 2011 · F&G ExD Millennium, Moored · 8,200'/40,000 · Malaysia · Available

VALARIS 72 · Jackup · 1981 · Hitachi K1025N · 225'/25,000' · United Kingdom · Under contract

VALARIS 76 · Jackup · 2000 · MLT Super 116-C · 350'/30,000' · Saudi Arabia · Leased to ARO drilling

VALARIS 92 · Jackup · 1982 · MLT 116-C · 210'/25,000' · United Kingdom · Under contract

VALARIS 104 · Jackup · 2002 · KFELS MOD V-B · 400'/30,000' · UAE · Preservation stacked(1)

VALARIS 106 · Jackup · 2005 · KFELS MOD V-B · 400'/30,000' · Indonesia · Future contract

VALARIS 107 · Jackup · 2006 · KFELS MOD V-B · 400'/30,000' · Australia · Under contract

VALARIS 108 · Jackup · 2007 · KFELS MOD V-B · 400'/30,000' · Saudi Arabia · Leased to ARO drilling

VALARIS 109 · Jackup · 2008 · KFELS MOD V-Super B · 350'/35,000' · Namibia · Preservation stacked(1)

VALARIS 110 · Jackup · 2015 · KFELS MOD V-B · 400'/35,000' · Qatar · Under contract

VALARIS 111 · Jackup · 2003 · KFELS MOD V Enhanced B-Class · 400'/36,000' · Croatia · Preservation stacked(1)

VALARIS 115 · Jackup · 2013 · Baker Marine Pacific Class 400 · 400'/30,000' · Brunei · Under contract

VALARIS 116 · Jackup · 2008 · LT 240- C · 375'/35,000' · Saudi Arabia · Leased to ARO drilling

VALARIS 117 · Jackup · 2009 · LT 240- C · 350'/35,000' · Mexico · Under contract

VALARIS 118 · Jackup · 2012 · LT 240- C · 350'/35,000 · Trinidad · Under contract

VALARIS 120 · Jackup · 2013 · KFELS Super A · 400'/40,000' · United Kingdom · Under contract

VALARIS 121 · Jackup · 2013 · KFELS Super A · 400'/40,000' · United Kingdom · Under contract

VALARIS 122 · Jackup · 2013 · KFELS Super A · 400'/40,000' · United Kingdom · Under contract

VALARIS 123 · Jackup · 2019 · KFELS Super A · 400'/40,000' · Netherlands · Under contract

VALARIS 140 · Jackup · 2016 · LT Super 116E · 340'/30,000' · Saudi Arabia · Leased to ARO drilling

VALARIS 141 · Jackup · 2016 · LT Super 116E · 340'/30,000' · Saudi Arabia · Leased to ARO drilling

VALARIS 143 · Jackup · 2010 · LT EXL Super 116-E · 350'/35,000' · UAE · Preservation stacked(1)

VALARIS 144 · Jackup · 2010 · LT Super 116-E · 350'/35,000' · Angola · Under contract

Rig Name · Rig Type · Year Delivered · Design · Maximum Water Depth/Drilling Depth · Location · Status

Jackups(Continued)

VALARIS 146 · Jackup · 2011 · LT EXL Super 116-E · 320'/35,000' · Saudi Arabia · Leased to ARO drilling

VALARIS 147 · Jackup · 2013 · LT Super 116-E · 350'/30,000' · UAE · Preservation stacked(1)

VALARIS 148 · Jackup · 2013 · LT Super 116-E · 350'/30,000' · UAE · Preservation stacked(1)

VALARIS 248 · Jackup · 2000 · LT Super Gorilla · 400'/35,000' · United Kingdom · Under contract

VALARIS 249 · Jackup · 2001 · LT Super Gorilla · 400'/35,000' · Trinidad · Under contract

VALARIS 250 · Jackup · 2003 · LT Super Gorilla XL · 550'/35,000' · Saudi Arabia · Leased to ARO drilling

VALARIS Viking · Jackup · 2010 · KEFLS N Class · 435'/35,000' · United Kingdom · Preservation stacked(1)

VALARIS Stavanger · Jackup · 2011 · KEFLS N Class · 400'/35,000' · United Kingdom · Under contract

VALARIS Norway · Jackup · 2011 · KEFLS N Class · 400'/35,000' · United Kingdom · Under contract

(1)Prior to stacking, upfront steps are taken to preserve the rig. This may include a quayside power source to dehumidify key equipment and/or provide electric current to the hull to prevent corrosion. Also, certain equipment may be removed from the rig for storage in a temperature-controlled environment. While stacked, large equipment that remains on the rig is periodically inspected and maintained by Valaris personnel. These steps are designed to reduce time and lower cost to reactivate the rig once returned to the active fleet.

Item 2 of the 10-K filed Feb 20, 2026.17

The story

In 1975, after the 1973 oil crisis, John R. Blocker bought Choya Energy, a six-rig contract drilling company based in Alice, Texas, and renamed the company Blocker Energy.

In 1980, the company became a public company via an initial public offering.

In 1981 and early 1982, the company borrowed heavily to expand its fleet to 54 rigs.

However, in late 1982, the price of oil plunged and, to avoid bankruptcy, Blocker Energy restructured, giving 64% of the company to its banks in exchange for $240 million in debt forgiveness. By 1983, the company was only operating 6 rigs, although that number increased to 24 in 1984. By 1985, the worldwide employee count of the company was down to 500.

Richard Rainwater's BEC Ventures made an investment in the company in 1986 and chose Carl F. Thorne to run the company, which he did until his retirement 20 years later.

In 1987, the company changed its name to Energy Service Company (Ensco).

In 1990, in a transaction orchestrated by Rainwater, who owned 21% of the company, the company acquired Penrod, previously controlled by Ray Lee Hunt, which added 19 rigs to its fleet.

In 2010, the company moved its headquarters to London and became a UK-registered company.

Read the full text

In May 2011, the company acquired Pride International. The company closed its Dallas office and consolidated it into its Houston office.

In October 2017, the company acquired Atwood Oceanics for $860 million and became the largest owner of jackup fleets worldwide.

In 2019, the company merged with Rowan Companies and changed its name to Valaris plc.

In August 2020, the company filed for a prearranged bankruptcy. It emerged from bankruptcy in May 2021.

From Wikipedia’s article on Valaris Limited, shared under CC BY-SA 4.0.6

Leadership

Who has led Valaris plc, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. William S. Chadwick Jr.2006
  2. Carl F. Thorne2006
  3. Daniel Wayne Rabun2007–2014
  4. Carl Trowell2014–2019
  5. Thomas Peter Burke2019–2021
  6. Anton Dibowitz2021–now

Chair

  1. Daniel Wayne Rabun2011–2012
  2. Carl Trowell2019–2020

President

  1. Daniel Wayne Rabun2006–2014
  2. Carl Trowell2014–2019
  3. Thomas Peter Burke2019–2021
  4. Anton Dibowitz2021–now

Chief financial officer

  1. James W. Swent Iii.2006–2015
  2. Jonathan Baksht2015–2021
  3. Darin Gibbins2021–2022
  4. Christopher T. Weber2022–now

Chief operating officer

  1. William S. Chadwick Jr.2006–2012
  2. Patrick Carey Lowe2016–2019
  3. Gilles Luca2020–now
19901995200020052010201520202025
Board members and other officers (60)

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • ATLANTIC MARITIME SERVICES LLC Delaware7
  • Alpha Achiever Company S.à r.l. Luxembourg7
  • Alpha Admiral Company S.à r.l. Luxembourg7
  • Alpha Archer Company S.à r.l. Luxembourg7
  • Alpha International Drilling Company S.à r.l. Luxembourg7
  • Alpha Offshore Drilling Services Company Cayman Islands7
  • Alpha Offshore Drilling Services Company (Ghana) Limited Ghana7
  • Alpha Orca Company S.à r.l. Luxembourg7
  • Atwood Advantage S.à r.l. Luxembourg7
  • Atwood Beacon S.à r.l. Luxembourg7
  • Atwood Oceanics (M) Sdn. Bhd. Malaysia7
  • Atwood Offshore Drilling Limited Hong Kong7
  • Atwood Offshore Worldwide Limited Cayman Islands7
  • Aurora Offshore Services Gmbh Germany7
  • C.A. Foravep, Forasol Venezuela de Perforaciones Venezuela7
  • Clearways Offshore Drilling Sdn. Bhd. Malaysia7
  • Drillquest Offshore Company Cayman Islands7
  • Durand Maritime S.A.S. France7
  • ENSCO (Bermuda) Limited Bermuda7
  • ENSCO Arabia Company Limited Saudi Arabia7
  • ENSCO Asia Company LLC Texas7
  • ENSCO Asia Pacific Pte. Limited Singapore7
  • ENSCO Corporate Resources LLC Delaware7
  • ENSCO Drilling Company (Nigeria) Ltd. Nigeria7
All 136 listed subsidiaries
  • ENSCO Gerudi (M) Sdn. Bhd. Malaysia7
  • ENSCO Global GmbH Switzerland7
  • ENSCO Holding Company Delaware7
  • ENSCO Holland B.V. Netherlands7
  • ENSCO Incorporated Texas7
  • ENSCO International Incorporated Delaware7
  • ENSCO Investments LLC Nevada7
  • ENSCO Oceanics Company LLC Delaware7
  • ENSCO Oceanics International Company Cayman Islands7
  • ENSCO Offshore International Holdings Limited Cayman Islands7
  • ENSCO Offshore International S.à r.l. Luxembourg7
  • ENSCO Offshore LLC Delaware7
  • ENSCO Offshore U.K. Limited England and Wales7
  • ENSCO Overseas Limited Cayman Islands7
  • ENSCO Services LLC Delaware7
  • ENSCO Services Limited England and Wales7
  • ENSCO U.K. Limited England and Wales7
  • ENSCO Universal Limited England and Wales7
  • ENSCO Worldwide GmbH Switzerland7
  • ENSCO de Venezuela, S.R.L. Venezuela7
  • Ensco (Thailand) Limited Thailand7
  • Ensco Deepwater Drilling Limited England and Wales7
  • Ensco Deepwater USA II LLC Delaware7
  • Ensco Endeavors Limited Cayman Islands7
  • Ensco France S.A.S. France7
  • Ensco Global II Ltd. Cayman Islands7
  • Ensco Holdco Limited England and Wales7
  • Ensco Intercontinental GmbH Switzerland7
  • Ensco International Management GP LLC Delaware7
  • Ensco International Management LP LLC Delaware7
  • Ensco Mexico Services, S. de R.L. de C.V. Mexico7
  • Ensco Ocean 1 Company Cayman Islands7
  • Ensco Ocean 2 Company Cayman Islands7
  • Ensco Offshore International Company S.à r.l. Luxembourg7
  • Ensco Offshore International LLC Delaware7
  • Ensco Offshore Petróleo e Gás Ltda. Brazil7
  • Ensco Transcontinental I LLC Nevada7
  • Ensco Transcontinental I LP England and Wales7
  • Ensco Transcontinental II LLC Nevada7
  • Ensco Transcontinental II LP England and Wales7
  • Ensco U.K. Limited (Australia PE) England and Wales7
  • Ensco UK Drilling Limited England and Wales7
  • Ensco Universal Holdings II Ltd. Cayman Islands7
  • Ensco Vistas Limited Cayman Islands7
  • Ensco do Brasil Petróleo e Gás Ltda. Brazil7
  • EnscoRowan Ghana Drilling Limited Ghana7
  • Forasub B.V. Netherlands7
  • Forinter Limited Jersey7
  • Great White Shark Limited Gibraltar7
  • Green Turtle S.à r.l. Luxembourg7
  • International Technical Services LLC Delaware7
  • Marine Blue Limited Gibraltar7
  • Mukamala Oil Field Services Limited Saudi Arabia7
  • Ocean Deep Drilling ESV Nigeria Limited Nigeria7
  • Offshore Drilling Services LLC Delaware7
  • P.T. ENSCO Sarida Offshore Indonesia7
  • PT Alpha Offshore Drilling Indonesia7
  • PT Pentawood Offshore Drilling Indonesia7
  • Petroleum International Pte. Ltd. Singapore7
  • Pride Arabia Co. Ltd. Saudi Arabia7
  • Pride Foramer (Sucursal de Angola) Angola7
  • Pride Foramer S.A.S. France7
  • Pride Forasol Drilling Nigeria Ltd. Nigeria7
  • Pride Forasol S.A.S. France7
  • Pride Global II Ltd. British Virgin Islands7
  • Pride Global Offshore Nigeria Limited Nigeria7
  • Pride International LLC Delaware7
  • Pride International Management Company LP Texas7
  • RD International Services Pte. Ltd. Singapore7
  • RDC Arabia Drilling, Inc. Cayman Islands7
  • RDC Holdings Luxembourg S.à r.l. Luxembourg7
  • Ralph Coffman Limited Gibraltar7
  • Ralph Coffman Luxembourg S.à r.l. Luxembourg7
  • Rowan 350 Slot Rigs, LLC Delaware7
  • Rowan Angola Limitada Angola7
  • Rowan Companies, LLC Delaware7
  • Rowan Deepwater Drilling (Gibraltar) Limited Gibraltar7
  • Rowan Drilling (Gibraltar) Limited (Indonesia PE) Indonesia7
  • Rowan Drilling (U.K.) Limited Scotland7
  • Rowan Drilling S.à r.l. Luxembourg7
  • Rowan Drilling Services Limited Gibraltar7
  • Rowan Drilling Services Nigeria Limited Nigeria7
  • Rowan Egypt Petroleum Services L.L.C. Egypt7
  • Rowan Financial Holdings S.à r.l. Luxembourg7
  • Rowan Global Drilling Services Limited Gibraltar7
  • Rowan Holdings Luxembourg S.à r.l. Luxembourg7
  • Rowan International Rig Holdings S.à r.l. Luxembourg7
  • Rowan Marine Services, LLC Texas7
  • Rowan N-Class (Gibraltar) Limited Gibraltar7
  • Rowan Norway Limited (FKA Rowan (Gibraltar) Limited) Gibraltar7
  • Rowan Offshore Luxembourg S.à r.l. Luxembourg7
  • Rowan Offshore S.à r.l. Luxembourg7
  • Rowan Rex S.à r.l. Luxembourg7
  • Rowan Rigs S.à r.l. Luxembourg7
  • Rowan Services LLC Delaware7
  • Rowan Standard Ghana Limited Ghana7
  • Rowan US Holdings (Gibraltar) Limited Gibraltar7
  • Rowan, S. de R.L. de C.V. Mexico7
  • Rowandrill Malaysia Sdn. Bhd. Malaysia7
  • Rowandrill, LLC Texas7
  • Saudi Aramco Rowan Offshore Drilling Company Saudi Arabia7
  • Societe Maritime de Services "SOMASER" S.A.S. France7
  • Sonamer Angola Ltd. Bahamas7
  • Sonamer Drilling International Limited Bahamas7
  • Sonamer Limited Bahamas7
  • Sonamer Perfuracoes Ltd, (Sucursal em Angola) Angola7
  • Valaris Finance Company LLC Delaware7
  • Valaris Ghana Drilling Ltd. Ghana7
  • Valaris Holdco 1 Limited Bermuda7
  • Valaris Holdco 2 Limited Bermuda7
  • Valaris Tenerife SL Spain7
  • Valaris United LLC Delaware7

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Former names

  • Ensco Rowan plcApr 11, 2019 to Aug 1, 20195
  • Ensco plcMar 18, 2010 to Mar 29, 20195
  • Ensco International plcDec 23, 2009 to Mar 31, 20105
  • ENSCO INTERNATIONAL INCDec 4, 1995 to Dec 23, 20095
  • ENERGY SERVICE COMPANY INCDec 31, 1993 to Mar 28, 19955

Timeline

  1. Oct 14, 20268-K Other events92
  2. Sep 30, 20268-K Other events93
  3. Aug 5, 20268-K Results of operations94
  4. Aug 5, 20268-K Regulation FD disclosure95
  5. Jul 1, 20268-K Other events96
  6. Jun 10, 20268-K Shareholder vote97
  7. May 5, 20268-K Other events98
  8. May 4, 20268-K Results of operations99
  9. May 4, 20268-K Regulation FD disclosure100
  10. Feb 19, 20268-K Results of operations101
  11. Feb 17, 20268-K Regulation FD disclosure102
  12. Feb 10, 20268-K Entered a material agreement103
  13. Dec 10, 2021New chief executive Anton Dibowitz becomes CEO18
  14. Apr 11, 2019New chief executive Thomas Peter Burke becomes CEO19
  15. Jun 2, 2014New chief executive Carl Trowell becomes CEO20
  16. Mar 21, 2007New chief executive Daniel Wayne Rabun becomes CEO21
  17. Mar 29, 2006New chief executive Carl F. Thorne becomes CEO23
  18. Mar 1, 2006New chief executive William S. Chadwick Jr. becomes CEO22
  19. 1987Founded Founded1

Calendar

Coming up

  1. Nov 2, 2026 · After the closeReports results for the quarter ending Sep/2026 A year earlier it reported $2.65 a share, on Oct 29, 2025.104

When it reported results

  1. Aug 5, 2026Reported quarterly or annual results94
  2. May 4, 2026Reported quarterly or annual results99
  3. Feb 19, 2026Reported quarterly or annual results101
  4. Oct 29, 2025Reported quarterly or annual results105
  5. Jul 30, 2025Reported quarterly or annual results106
  6. Apr 30, 2025Reported quarterly or annual results107
  7. Feb 19, 2025Reported quarterly or annual results108
  8. Oct 30, 2024Reported quarterly or annual results109

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

323 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 67 major events, 158 insider forms, 31 large holders, 47 other. The latest 20:

  1. Oct 14, 2026DEFA14A DEFA 14A EDGAR
  2. Oct 14, 20268-K EDGAR
  3. Oct 14, 2026DEFM14A EDGAR
  4. Sep 30, 2026DEFA14A EDGAR
  5. Sep 30, 20268-K EDGAR
  6. Sep 3, 2026144 EDGAR
  7. Aug 12, 2026SCHEDULE 13D/A EDGAR
  8. Aug 11, 2026144 EDGAR
  9. Aug 10, 2026SCHEDULE 13G/A EDGAR
  10. Aug 6, 202610-Q EDGAR
  11. Aug 5, 20268-K EDGAR
  12. Aug 5, 20268-K EDGAR
  13. Jul 7, 20264 EDGAR
  14. Jul 2, 20264 EDGAR
  15. Jul 1, 2026DEFA14A DEFA 14A EDGAR
  16. Jul 1, 20268-K EDGAR
  17. Jun 12, 20264 EDGAR
  18. Jun 12, 20264 EDGAR
  19. Jun 12, 20264 EDGAR
  20. Jun 12, 20264 EDGAR

The 323 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

13 open-market trades by officers, directors and large owners since October 2021: 1 buys and 12 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 3, 2025Luca GillesSVP - COOSale35,000$48.84$1.7MForm 4
Mar 5, 2025Dibowitz AntonPresident & CEOBuy7,500$33.91$254.3KForm 4
Nov 5, 2024Weber Christopher TSVP - CFOSale4,000$49.50$198.0KForm 4
Sep 30, 2024Lyne MatthewSVP - CCOSale26,000$55.77$1.5MForm 4
Sep 9, 2024Vukadin DavorSVP & General CounselSale15,403$56.64$872.4KForm 4
Sep 9, 2024Luca GillesSVP - COOSale30,000$56.86$1.7MForm 4
Aug 9, 2023Grable ColleenVP - ControllerSale5,034$75.00$377.6KForm 4
Aug 7, 2023OAK HILL ADVISORS LP10% ownerSale4,200,000$73.10$307.0MForm 4
Mar 9, 2023OAK HILL ADVISORS LP10% ownerSale18,923$71.65$1.4MForm 4
Mar 8, 2023OAK HILL ADVISORS LP10% ownerSale258,879$71.65$18.5MForm 4
Mar 7, 2023OAK HILL ADVISORS LP10% ownerSale10,372$75.02$778.1KForm 4
Mar 6, 2023OAK HILL ADVISORS LP10% ownerSale158,632$76.39$12.1MForm 4
Aug 16, 2022Grable ColleenVP - ControllerSale3,109$47.57$147.9KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Anton DibowitzPresident and Chief Executive Officer54$950.0K$6.1M121
2025Matthew LyneSenior Vice President, Chief Commercial Officer$588.9K$2.6M121
2025Gilles LucaSenior Vice President, Chief Operating Officer$550.0K$2.6M121
2025Christopher WeberSenior Vice President, Chief Financial Officer$550.0K$2.5M121
2025Davor VukadinSenior Vice President, General Counsel and Secretary$400.0K$1.8M121
2024Anton DibowitzPresident and Chief Executive Officer54$950.0K$7.8M121
2024Gilles LucaSenior Vice President, Chief Operating Officer$550.0K$3.2M121
2024Matthew LyneSenior Vice President, Chief Commercial Officer$571.9K$3.1M121
2024Christopher WeberSenior Vice President, Chief Financial Officer$550.0K$3.1M121
2024Davor VukadinSenior Vice President, General Counsel and Secretary$395.2K$2.0M121
2023Anton DibowitzPresident and Chief Executive Officer54$950.0K$6.3M121
2023Gilles LucaSenior Vice President, Chief Operating Officer$550.0K$3.4M121
2023Matthew LyneSenior Vice President, Chief Commercial Officer$555.8K$2.4M121
2023Christopher WeberSenior Vice President, Chief Financial Officer$550.0K$2.4M121
2023Davor VukadinSenior Vice President, General Counsel and Secretary$375.0K$1.4M121

Members of Congress who traded it

2 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
Jun 29, 2023Daniel S. GoldmanDemocratic, HouseSale$1,001 - $15,000+35.4%Report
Apr 10, 2023Daniel S. GoldmanDemocratic, HouseBuy$1,001 - $15,000−56.1%Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

SEC filer profile

How Valaris plc is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARValaris Ltd2
  • CIK0000314808
  • Employer ID (EIN)98-158985417
  • Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company17
  • Incorporated inBermuda17
  • Fiscal year endsDecember 312
  • Industry code (SIC)1381 Drilling Oil & Gas Wells2
  • SEC reviewing officeOffice of Energy & Transportation, Division of Corporation Finance2
  • Business addressRichmond House, 12 Par-La-Ville Road, Hamilton, HM 08, Bermuda2
  • Phone44020765946602
  • Shares outstanding69,435,807 as of Jul 30, 202615
  • Public float$2.5B as of Jun 30, 202517
  • AuditorKPMG LLP, Houston, Texas PCAOB ID 185; it also attests to the company’s internal control over financial reporting17
  • On EDGAR sinceDec 31, 19932
  • Filings2,776 in all: 4 (1,309), 8-K (559), 10-Q (95), SC 13G/A (88), DEFA14A (61), 425 (58), 3 (57), 5 (57)2
    All 68 form types

    SC 13G (46), 4/A (45), 11-K (36), DEF 14A (32), S-8 POS (29), 10-K (28), UPLOAD (26), CORRESP (22), ARS (17), SC 13D/A (16), S-8 (14), 424B5 (12), 8-A12B (10), 144 (9), S-1/A (9), PRE 14A (8), S-4/A (8), 10-K/A (7), 8-K/A (7), PX14A6G (6), S-3ASR (6), SC 13D (6), 15-12B (5), 424B3 (5), EFFECT (5), FWP (5), POSASR (5), S-4 (5), SCHEDULE 13D/A (5), SCHEDULE 13G/A (5), 10-K405 (4), 10-Q/A (4), 25-NSE (4), CERTNYS (4), 10-QT (3), 5/A (3), CERT (3), DEFM14A (3), 8-A12B/A (2), PREM14A (2), S-3 (2), 11-KT (1), 15-12G (1), 15-15D (1), 25 (1), 3/A (1), 305B2 (1), 424B2 (1), 8-K12B (1), ARS/A (1), DEFR14A (1), DFAN14A (1), F-6 POS (1), F-6EF (1), NO ACT (1), POS AM (1), PRER14A (1), S-1 (1), SCHEDULE 13D (1), SCHEDULE 13G (1)

  • Latest filingsAnnual report (10-K) Feb 20, 2026
    Quarterly report (10-Q) Aug 6, 2026
    Proxy statement (DEF 14A) Apr 16, 2026
    Latest 8-K (8-K) Oct 14, 2026

Securities registered for trading

ClassSymbolExchange
Common Shares, $0.01 par value shareVALNew York Stock Exchange
Warrants to purchase Common SharesVAL WSNew York Stock Exchange

From the cover page of the 10-K filed Feb 20, 2026 (Section 12(b) of the Exchange Act).17

Risk factors and legal proceedings

The risks Valaris plc names in Item 1A of its 10-K filed Feb 20, 2026: 45 risks under these headings, as written.17

  • Risks Related to the Business Combination
  • Our pending Business Combination may be delayed or not occur at all for a variety of reasons, some of which are outside of the parties’ control, and if these conditions are not satisfied, the Business Combination Agreement may be terminated and the Business Combination may not be completed.
  • Efforts to complete the Business Combination could disrupt our relationships with third parties and employees, divert management’s attention, or result in negative publicity or legal proceedings, any of which could negatively impact our operating results and ongoing business.
  • The Business Combination Agreement contains provisions that limit our ability to pursue alternatives to the Business Combination which could discourage a potential competing acquiror from making an alternative transaction proposal.
  • While the Business Combination Agreement is in effect, we are subject to restrictions on our business activities.
  • Risks Related to Our Business, Operations, Financing Arrangements and Market Conditions
  • The success of our business depends on the level of activity in offshore oil and natural gas exploration, development and production, which can be significantly affected by volatile oil and natural gas prices.
  • The offshore contract drilling industry is highly competitive and cyclical.
  • Our current backlog of contract drilling revenue may not be fully realized and may decline significantly in the future.
  • Our business will be materially adversely affected if we are unable to secure contracts on economically favorable terms or if option periods in existing contracts are not exercised as expected.
  • Our customers may be unable or unwilling to fulfill their contractual commitments to us, including their obligations to pay for losses, damages or other liabilities.
  • The loss of a significant customer or customer contract, as well as customer consolidation and changes to customer strategy, could materially adversely affect our business.
The other 35 risks
  • Our long-term contracts are subject to the risk of cost increases, which could adversely impact our profitability.
  • Our network and systems, including rig operating systems and critical data, are subject to cybersecurity risk and technical disruptions.
  • Rig reactivation, upgrade and enhancement projects are subject to risks, including delays and cost overruns, which could materially adversely affect our financial position, operating results or cash flows.
  • We make significant expenditures to meet customer requirements, maintain our fleet to comply with laws and the applicable regulations and standards of governmental authorities and organizations, or to expand our fleet, and we may be required to make significant expenditures to maintain our competitiveness.
  • Failure to recruit, develop and retain skilled personnel could materially adversely affect our business.
  • Our use of a shared service center creates risks relating to the processing of transactions and recording of financial information, which could materially adversely affect our financial condition, operating results or cash flows.
  • AI presents risks and challenges that can impact our business.
  • We may not realize the expected benefits of our ARO joint venture.
  • Joint venture investments could be adversely affected by our joint venture partners’ actions, financial condition and liquidity and disputes between us and our joint venture partners.
  • Our business involves operating hazards, and our insurance and indemnities from our customers or other parties may not be adequate to cover any potential losses.
  • Geopolitical events and violence could materially adversely affect the markets for our services and have a material adverse effect on our business and cost and availability of insurance.
  • Our drilling contracts with national oil companies may expose us to greater risks than we normally assume in drilling contracts with non-governmental customers.
  • Unionization efforts and labor regulations in certain countries in which we operate could materially increase our costs or limit our flexibility with regard to the management of our personnel.
  • Significant equipment or part shortages, supplier capacity constraints, supplier production disruptions, supplier quality and sourcing issues or price increases could materially adversely affect our financial position, operating results or cash flows.
  • Our operating and maintenance costs will not necessarily fluctuate in proportion to changes in our operating revenues.
  • Our ability to pay our operating and capital expenses and make payments due on our debt depends on many factors beyond our control.
  • The agreements governing our debt, including the Indenture and the 2028 Credit Agreement, contain various covenants that impose restrictions on us and certain of our subsidiaries that may affect our ability to operate our business and to make payments on our debt.
  • We may experience risks associated with future mergers, acquisitions or dispositions of businesses or assets, including our drilling rigs, or other strategic transactions.
  • The exercise of all or any number of outstanding warrants or the issuance or settlement of stock-based awards may dilute the holders of our Common Shares.
  • Regulatory, Legal and Tax Risks
  • Failure to comply with anti-corruption and anti-bribery statutes, such as the U.S. Foreign Corrupt Practices Act and the U.K. Bribery Act 2010, could result in fines, criminal penalties, drilling contract terminations and materially adversely affect our financial position, operating results or cash flows.
  • Increasing regulatory complexity could adversely impact the costs associated with our offshore drilling operations and reduce demand for our services.
  • Compliance with or breach of environmental laws can be costly and could limit our operations.
  • The IRS may not agree with the conclusion that we should be treated as a foreign corporation for U.S. federal tax purposes.
  • Governments may pass laws that subject us to additional taxation or may challenge our tax positions.
  • Our consolidated effective income tax rate may vary substantially over time.
  • We are subject to litigation that could have a material adverse effect on us.
  • We are a Bermuda company and it may be difficult to enforce judgments against us or our directors and executive officers.
  • Our bye-laws restrict shareholders from bringing legal action against our officers and directors.
  • Provisions in our bye-laws could delay or prevent a change in control of our company, which could materially adversely affect the price of our Common Shares.
  • Legislation enacted in Bermuda as to Economic Substance may affect our business.
  • Our business could be affected as a result of activist investors.
  • Risks Related to Our International Operations
  • Our non-U.S. operations involve additional risks not typically associated with U.S. operations, and we are subject to additional risks associated with the expansion into new geographical markets.
  • Sustainability Risks
  • Regulation of GHG and climate change could have a negative impact on our business.
  • Consumer preferences for alternative fuels and electric-powered vehicles, as part of the global energy transition, may lead to reduced demand for our services.
  • Increased scrutiny from stakeholders and others regarding climate change, as well as our sustainability practices, initiatives and reporting responsibilities, could result in additional costs or risks.

Legal proceedings

Environmental Matters

We are currently subject to pending notices of assessment relating to spills of drilling fluids, oil, brine, chemicals, grease or fuel from drilling rigs operating offshore Brazil from 2008 to 2017, pursuant to which the governmental authorities have assessed, or are anticipated to assess, fines. We have contested these notices and appealed certain adverse decisions and are awaiting decisions in these cases. Although we do not expect final disposition of these assessments to have a material adverse effect on our financial position, operating results and cash flows, there can be no assurance as to the ultimate outcome of these assessments. A $0.5 million liability related to these matters was included in Accrued liabilities and other on our Consolidated Balance Sheet as of December 31, 2025 included in "Item 8. Financial Statements and Supplementary Data."

Other Matters

In addition to the foregoing, we are named defendants or parties in certain other lawsuits, claims or proceedings incidental to our business and are involved from time to time as parties to governmental investigations or proceedings, including matters related to taxation, arising in the ordinary course of business. Although the outcome of such lawsuits or other proceedings cannot be predicted with certainty and the amount of any liability that could arise with respect to such lawsuits or other proceedings cannot be predicted accurately, we do not expect these matters to have a material adverse effect on our financial position, operating results or cash flows.

The opening of Item 3, Legal Proceedings.17

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