What changed in this filing

/stocks — the workspaceLOADING

Item 2. Properties

2025-02-20 compared with 2024-02-22 · 28 added, 27 removed, 87 unchanged (39% of the section changed)

4 unchanged sentences

VALARIS DS-4 Drillship 2010 Dynamically Positioned 12,000'/40,000' Brazil Under contract

VALARIS DS-7 Drillship 2013 Dynamically Positioned 10,000'/40,000' Spain Under reactivation (2)

VALARIS DS-7 Drillship 2013 Dynamically Positioned 10,000'/40,000' Angola

Under contract

VALARIS DS-8 Drillship 2015 Dynamically Positioned 12,000'/40,000' Brazil

Under contract

VALARIS DS-9 Drillship 2015 Dynamically Positioned 12,000'/40,000' Angola Under contract

VALARIS DS-9 Drillship 2015 Dynamically Positioned 12,000'/40,000' Cyprus

Under contract

VALARIS DS-10 Drillship 2017

Dynamically Positioned 12,000'/40,000' Nigeria Under contract

Dynamically Positioned 12,000'/40,000' Spain

VALARIS DS-11 Drillship 2013 Dynamically Positioned 12,000'/40,000' Spain Preservation stacked (1)

2 unchanged sentences

VALARIS DS-13 Drillship 2023

Dynamically Positioned 12,000'/40,000' Mobilizing (3)

Mobilizing (3)

VALARIS DS-14 Drillship 2023

Dynamically Positioned 12,000'/40,000' Mobilizing (3)

Mobilizing (3)

Dynamically Positioned 12,000'/40,000' Spain Preservation stacked (1)

VALARIS DS-14 Drillship 2023 Dynamically Positioned 12,000'/40,000' Spain Preservation stacked (1)

VALARIS DS-15 Drillship 2014 Dynamically Positioned 12,000'/40,000' Brazil Under contract

2 unchanged sentences

Under contract

VALARIS DS-18 Drillship 2015 Dynamically Positioned 12,000'/40,000' Gulf of Mexico Under contract

VALARIS DPS-1 Semisubmersible 2012 Dynamically Positioned 10,000'/35,000' Australia Under contract

VALARIS DS-18 Drillship 2015 Dynamically Positioned 12,000'/40,000' Gulf of Mexico

Under contract

VALARIS DPS-1 Semisubmersible 2012 Dynamically Positioned 10,000'/35,000' Australia

Under contract

VALARIS DPS-3 Semisubmersible 2010 Dynamically Positioned 8,500'/37,500' Gulf of Mexico Preservation stacked (1)(2)

VALARIS DPS-5 Semisubmersible 2012 Dynamically Positioned 8,500'/35,000' Mexico Under contract

VALARIS DPS-5 Semisubmersible 2012 Dynamically Positioned 8,500'/35,000' Gulf of Mexico Available (2)

VALARIS DPS-6 Semisubmersible 2012 Dynamically Positioned 8,500'/35,000' Gulf of Mexico Preservation stacked (1)(2)

3 unchanged sentences

Hitachi K1025N 225'/25,000' United Kingdom Under contract

VALARIS 75 Jackup 1999 MLT Super 116-C 400'/30,000' Gulf of Mexico Preservation stacked (1)

VALARIS 76 Jackup 2000 MLT Super 116-C 350'/30,000' Saudi Arabia Preparing for lease contract (4)

VALARIS 76 Jackup 2000 MLT Super 116-C 350'/30,000' Saudi Arabia Leased to ARO drilling

VALARIS 92 Jackup 1982

6 unchanged sentences

VALARIS 108 Jackup 2007

KFELS MOD V-B 400'/30,000' Saudi Arabia Preparing for lease contract (4)

KFELS MOD V-B 400'/30,000' Saudi Arabia Leased to ARO drilling

VALARIS 109 Jackup 2008 KFELS MOD V-Super B 350'/35,000' Namibia Preservation stacked (1)

13 unchanged sentences

VALARIS 123 Jackup 2019

KFELS Super A 400'/40,000' United Kingdom

Preparing for contract

KFELS Super A 400'/40,000' Netherlands

Under contract

VALARIS 140 Jackup 2016 LT Super 116E 340'/30,000' Saudi Arabia Leased to ARO drilling

1 unchanged sentence

VALARIS 143 Jackup 2010

LT EXL Super 116-E 350'/35,000' Saudi Arabia Leased to ARO drilling

VALARIS 144 Jackup 2010 LT Super 116-E 350'/35,000' Gulf of Mexico Under contract

LT EXL Super 116-E 350'/35,000' UAE Preservation stacked (1)

VALARIS 144 Jackup 2010 LT Super 116-E 350'/35,000' Angola

Under contract

VALARIS 145 Jackup 2010 LT Super 116-E 350'/35,000' Gulf of Mexico Preservation stacked (1)

2 unchanged sentences

VALARIS 147 Jackup 2013

LT Super 116-E 350'/30,000' Saudi Arabia Leased to ARO drilling

LT Super 116-E 350'/30,000' UAE Preservation stacked (1)

VALARIS 148 Jackup 2013

LT Super 116-E 350'/30,000' Saudi Arabia Leased to ARO drilling

VALARIS 247 Jackup 1998 LT Super Gorilla 400'/35,000' United Kingdom

Preparing for contract

LT Super 116-E 350'/30,000' UAE Preservation stacked (1)

VALARIS 247 Jackup 1998 LT Super Gorilla 400'/35,000' Australia

Under contract

VALARIS 248 Jackup 2000

5 unchanged sentences

KEFLS N Class 435'/35,000' United Kingdom Preservation stacked (1)

VALARIS Stavanger Jackup 2011 KEFLS N Class 400'/35,000' United Kingdom Preparing for contract

VALARIS Stavanger Jackup 2011 KEFLS N Class 400'/35,000' United Kingdom Under contract

VALARIS Norway Jackup 2011 KEFLS N Class 400'/35,000' United Kingdom Under contract

4 unchanged sentences

These steps are designed to reduce time and lower cost to reactivate the rig once returned to the active fleet.

(2) Rig is being reactivated for a firm contract.

(3) Rigs are mobilizing from South Korea to Las Palmas, Spain, where they will be stacked.

(4) Rigs are under-going contract preparations for lease contracts with ARO drilling.

(2) In the first quarter of 2025, management approved a plan to retire VALARIS DPS-3, VALARIS DPS-5 and VALARIS DPS-6 from the fleet.

The Company expects that these rigs will be removed from the global drilling supply and repurposed for alternative uses or scrapped.

The equipment on our drilling rigs includes engines, draw works, derricks, pumps to circulate drilling fluid, well control systems, drill string and related equipment.

19 unchanged sentences

We lease various office, warehouse and storage facilities worldwide, including our corporate offices in Houston, Texas and other offices and facilities located in various countries in North America, South America, Europe, Africa and the Asia Pacific region.

We own offices and other facilities in United States (Louisiana), Angola and Brazil.

We own offices and other facilities in the U.S.

(Louisiana) and Brazil.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 2. Properties