President and Chief Executive Officer Anton Dibowitz said, “The contract awards for VALARIS DS-4 and VALARIS DS-16 are great examples of how we are executing on the operating leverage inherent in our business, with day rates transitioning from legacy rates in the low $200,000s to market rates. We are also beginning to see early signs of a recovery in the North Sea jackup market from 2025, as evidenced by several awards at improving day rates.”