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Valaris books USD 3 billion deficit in first quarter

Drilling company Valaris reports a multi-billion-dollar deficit in the first quarter, in which a large impairment cut deep.

Billedet er ikke direkte relateret til Valaris. | Photo: Mario Tama/AFP/Ritzau Scanpix

Drilling rig company Valaris got an extra tough start to the year, as the coronavirus crisis hit hard. This has resulted in a large impairment and a bottom line deficit for the first quarter.

The company's annual report shows impairments for the quarter totaling USD 2.81 billion, which pushed the combined deficit for the quarter to USD 3.01 billion, corresponding to a loss of USD 15.19 per share.

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