Valaris gets two rig contract terminations in Angola

Offshore drilling contractor Valaris has received contract terminations for two rigs operating offshore Angola, one from Total and the other one from Chevron, but has also secured revenue backlog of $100 million.

In an update on Thursday Valaris said it continues actively working to recover or replace the blowout preventer (BOP) stack on Valaris DS-8 drillship following a non-drilling incident earlier this month.

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