Valaris Market Overview and Strategic Positioning
Valaris Overview (NYSE: VAL)
.
Fleet
Largest and amongst the
highest-quality offshore
drilling fleets in the world
16 drillships
12 semisubmersibles
54 jackups
$11 billion of net asset
value from rig fleet
according to third party
estimates
• ARO Drilling 50/50 joint
venture with Saudi Aramco,
the largest jackup customer
worldwide
VALARIS
.
Financial
Operational
$
• $2.7 billion of liquidity
•
-
$0.4 billion of cash and short-
term investments1
- $2.3 billion unsecured
revolving credit facility2
$2.4 billion of contracted
revenue backlog³
• $1.1 billion of debt
maturities prior to 20241
Ability to add guaranteed
and/or secured debt to capital
structure
• Presence in nearly all major
.
offshore markets and on six
continents
• Large & diverse customer
base including major,
national and independent
E&P companies
.
Strong track record of
safety, innovation and
operational excellence
1As of June 30, 2019 pro forma for debt tender offers completed in July that reduced cash and equivalents by $741 million
2Borrowing capacity under revolving credit facility is approximately $2.3B through September 2019 and approximately $1.7B from October 2019
through September 2022. As of August 1, 2019, the Company had drawn $125 million on its revolver to partially fund repayment of the 2019 maturity.
3As of most recent filing
5View entire presentation