Valaris clears Brazilian approval; Transocean deal on track for Q4 2026 closing

Transocean (RIG) will acquire Valaris in an all-stock deal, expected to close in Q4 2026 after receiving final approval from Brazil's CADE. The transaction will create a larger offshore drilling group. Analysts rate RIG as Hold with a $7.00 target, while Spark's AI rates it as Neutral.

Transocean (RIG) announced Brazil's antitrust authority CADE approved its merger with Valaris, with a 15-day waiting period expected to start Oct 15–16, 2026. The deal, set to close in Q4 2026, involves Transocean acquiring Valaris for 15.235 shares per Valaris share, according to the companies.

Valaris (VAL) received Brazilian antitrust approval for its $5.8B sale to Transocean (RIG). The regulator, CADE, allowed the deal to proceed without restrictions, according to the company.

Transocean has received unconditional approval from Brazil for its acquisition of Valaris. The deal is significant for investors as it may impact both companies' operations and financials in the Brazilian market.

Valaris Ltd (VAL) filed an SEC Form 8-K — Other Events. Item 8.01 Other Events. As previously announced, on February 9, 2026, Valaris Limited , an exempted company limited by shares incorporated under the laws of Bermuda (“ Valaris ”), and Transocean Ltd., a Swiss corporation (“ Transocean ”), entered into a Business Combination Agree

ProPetro (PUMP) reported Q2 revenue of $305.8M, down 6.2% YoY, missing estimates. Valaris (VAL) reported $539.2M revenue, down 12.4% YoY, beating expectations. Select Water Solutions (WTTR) reported $395.8M revenue, up 8.7% YoY, exceeding estimates. PUMP is down 17.9%, VAL up 10.1%, WTTR up 4.5% since reporting.