Valaris Market Overview and Strategic Positioning
Merger Integration and Synergies
Targeted Synergies
.
•
$165 million of run rate annual
expense synergies
•
- G&A and other support costs
-
Regional office consolidation
- Inventory, logistics and other vendor
synergies
Expect to achieve more than 75%
of these synergies by the end
of first quarter 2020, with full run
rate achieved by year-end 2020,
creating $1.1 billion of capitalized
value
.
Progress to Date
More than 50% of integration-
related activities completed
- 65% of planned staffing reductions
Houston and Aberdeen regional
office and warehouse consolidation
Major ERP conversion
$80 million of annual run rate
synergies achieved by the end of
second quarter 2019
Evaluating additional synergy
opportunities that could lead to
increase in targeted synergies
VALARIS
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