$VAL

TETRA Technologies (TTI) stock fell 20.9% since reporting Q2 results, trading at $6.17. NESR (NESR) reported 59.1% revenue growth, beating estimates, but its stock dropped 15.5% to $24.52. ProPetro (PUMP) missed expectations, with revenue down 6.2%, and its stock fell 10.1% to $9.59. Oceaneering (OII) beat estimates with 10% revenue growth, stock flat at $44.97. Valaris (VAL) reported 12.4% revenue decline but beat EPS estimates, stock up 6.5% to $82.00.

Valaris has added $220M to its backlog through new contracts and extensions across multiple regions, including Suriname, Australia, and the North Sea. The deals vary in duration, day rates, and options, which may diversify revenue but also introduce operational risks.

Valaris Limited (NYSE:VAL) announced $220 million in new drilling contracts, including deals with PETRONAS, INEOS, and Eni. Contracts span various regions and vessels, with start dates from late 2026 to 2030. The company also sold two rigs for recycling. According to Valaris, the contracts add to its backlog and include cost escalation mechanisms.

US antitrust regulators approved the merger of Transocean and Valaris, which was previously halted in May due to anti-monopoly scrutiny. The deal has been long-anticipated.

Transocean (RIG) announced DOJ antitrust approval for its $5.8B all-stock acquisition of Valaris (VAL). The approval was disclosed in an 8-K filing.

The US DOJ closed its investigation into Transocean's $5.8B acquisition of Valaris, clearing a key regulatory hurdle. The deal, still under review in Brazil, is expected to close in Q4 2026, according to a securities filing.

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

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

Valaris (VAL) shares rose 8.5% after oil prices increased 4.5% to $106/barrel due to strikes on Russian, Ukrainian, and Saudi oil facilities. The strikes may reduce land-based oil supply, benefiting offshore drillers like Valaris, which is merging with Transocean (RIG). The merger would create the world's largest offshore rig operator. Valaris' stock performance depends on supply disruptions and merger approval.

Moerus Worldwide Fund's Q2 2026 letter highlighted Valaris (VAL) as its top performer, driven by a 32% premium takeover bid from Transocean. Valaris, an offshore drilling services provider, saw its stock surge, with a 52-week range of $46.70-$114.12. The fund's underperformance was attributed to limited tech exposure and energy sector declines, but it maintained its value investing approach.