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Valaris Limited

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A global offshore contract drilling company, Valaris owns a fleet of drillships, semisubmersibles, and jackup rigs that it leases with crews to energy firms on a daily-rate basis, working across six continents. It was born in 2019 from the merger of Ensco and Rowan, two drilling firms whose roots stretch back to the 1920s and 1970s. The name comes from a Latin root meaning "strength, courage, and value," chosen after employees and customers worldwide weighed in.

8.25% Senior Notes due 2028