Drilling company Valaris has taken delivery of newbuild drillships, VALARIS DS-13 and DS-14, for an aggregate purchase price of approximately $337 million.
Both rigs will be mobilised from South Korea to Las Palmas in Spain where they will be stacked until contracted for work.
The addition of the two new rigs brings the number of drillships in Valaris’ fleet to 13.
The firm says that the deal is expected to increase its fourth quarter 2023 capital expenditures by approximately $355 million.
This increase in CAPEX is down to the purchase price for the rigs and costs associated with preparing the drillships to mobilise from South Korea to Spain.
The transfer of the DS-13 and DS-14 to Spain is also set to impact Valaris’ 2024 books with an estimated increase in CAPEX of $35 million being primarily related to mobilization costs.
President and chief executive of Valaris, Anton Dibowitz, said: “We are delighted to add these two rigs, the highest specification drillships remaining at the South Korean shipyards, to our fleet.
“These additions increase our drillship fleet to 13 rigs, reinforcing its position as one of the most technically capable in the industry.”