Offshore

Restructured Valaris eyes beginning of upturn after pandemic

Drilling major Valaris, recently restructured, exits the second quarter with a billion-dollar net loss, largely due to impairments and other costs. But demand improves on the back of pandemic-related downturn, says the CEO.
Photo: Colourbox
Photo: Colourbox
by DANIEL LOGAN

Drilling company Valaris, which came out of Chapter 11 bankruptcy reorganization in late April, reports a large billion-dollar deficit in the second quarter.

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