 | |
| Formerly | EnscoRowan plc |
|---|---|
| Company type | Public limited company |
| Industry | Petroleum industry |
| Founded | 1975; 50 years ago (1975) |
| Headquarters | Hamilton, Bermuda (incorporation) San Felipe Plaza Houston, Texas, U.S. (operational) |
Key people | Anton Dibowitz (CEO &President) Chris Weber (CFO) |
| Services | Offshore drilling Well drilling |
| Revenue |  US$2.362 billion (2024) |
 US$369 million (2024) | |
| Total assets | US$4.419 billion (2024) |
| Total equity | US$2.244 billion (2024) |
Number of employees | 5,642, including contract personnel (2024) |
| Website | www |
| Footnotes / references [1] | |
Valaris Limited (previouslyENSCO-Rowan plc) is anoffshore drilling contractor headquartered in Houston, Texas, and incorporated inBermuda. It is the largestoffshore drilling andwell drilling company in the world. As of February 2025, it owned 52 rigs, including 36 offshorejackup rigs, 11drillships, and 5semi-submersible platformdrilling rigs.[1]
In 2024, the company's largest customer wasBP (17% of revenues) and the company's 5 largest customers accounted for 49% of revenues.[1]
In 1975, after the1973 oil crisis, John R. Blocker bought Choya Energy, a six-rig contract drilling company based inAlice, Texas, and renamed the company Blocker Energy.[2]
In 1980, the company became apublic company via aninitial public offering.[3]
In 1981 and early 1982, the company borrowed heavily to expand its fleet to 54 rigs.[4]
However, in late 1982, the price of oil plunged and, to avoid bankruptcy, Blocker Energy restructured, giving 64% of the company to its banks in exchange for $240 million in debt forgiveness. By 1983, the company was only operating 6 rigs, although that number increased to 24 in 1984. By 1985, the worldwide employee count of the company was down to 500.[2][5]
Richard Rainwater's BEC Ventures made an investment in the company in 1986 and chose Carl F. Thorne to run the company, which he did until his retirement 20 years later.[6]
In 1987, the company changed its name to Energy Service Company (Ensco).
In 1990, in a transaction orchestrated by Rainwater, who owned 21% of the company, the company acquired Penrod, previously controlled byRay Lee Hunt, which added 19 rigs to its fleet.[7][8]
In 2010, the company moved its headquarters to London and became a UK-registered company.[9][10]
In May 2011, the company acquiredPride International.[11] The company closed its Dallas office and consolidated it into its Houston office.[12]
In October 2017, the company acquiredAtwood Oceanics for $860 million and became the largest owner of jackup fleets worldwide.[13]
In 2019, the company merged with Rowan Companies[14] and changed its name to Valaris plc.[15]
In August 2020, the company filed for a prearrangedbankruptcy.[16] It emerged from bankruptcy in May 2021.[17][18]
