Valaris climbs on $500 mln contract from Petrobras

Valaris

06/03/2023 15:54

** Shares of offshore drilling services firm Valaris Ltd
 VAL.N  rise 6% to $76.54 
    ** Co signs a three-year contract worth $500 mln with
Brazilian energy company Petrobras  PETR4.SA  for its drillship
VALARIS DS-8
    ** VAL also announces separate short-term contracts with
TotalEnergies  TTEF.PA  and Beach Energy Ltd  BPT.AX  
    ** Co expects 2023 adj. core profit to decrease by about $60
mln to the range of $180 mln to $220 mln, compared with
analysts' estimate of $256.8 mln - Refinitiv
    ** Including session gains, stock up 12.9% YTD

 (Reporting by Sourasis Bose in Bengaluru)
 ((Sourasis.bose@thomsonreuters.com))