HAMILTON, Bermuda–(BUSINESS THREAD)–Valaris Limited (NYSE: VAL) (“Valaris” or the “Company”) today announced that Chris Weber has begun his role as Senior Vice President and Chief Financial Officer, having been appointed to this role in end of May
Chris Weber previously served as CFO of LUFKIN Industries, the leading global provider of rod lift optimization solutions, products, technologies and services to the oil and gas industry. Mr. Weber has also served as CFO of Abaco Drilling Technologies, Halliburton and Parker Drilling Company, and has also held senior finance positions at Valaris’ predecessor companies, Ensco and Pride International.
Chairman and CEO Anton Dibowitz said, “I am delighted to welcome Chris to Valaris’ Executive Management Committee and look forward to working with him as we continue to build on the positive momentum we are seeing in our business. The deep experience of Chris in the industry further strengthens our leadership team and will help us execute our strategy of being value-driven, focused and accountable in our decision-making in order to maximize shareholder value.”
Dibowitz added, “I would like to take this opportunity to thank Darin Gibbins for the exemplary work he has done during his time as interim CFO. Darin has been a valuable partner to me in driving Valaris’ progress during senior year and I look forward to continuing to work with him.”
About Valaris Limited
Valaris Limited (NYSE: VAL) is the industry leader in offshore drilling services at all depths and geographies. Operating a high-quality equipment fleet of ultra-deepwater drillships, versatile semi-submersibles and modern shallow-water jackups, Valaris has experience operating in almost every major coastal basin. Valaris maintains an unwavering commitment to safety, operational excellence and customer satisfaction, with a focus on technology and innovation. Valaris Limited is a Bermuda exempt company (Bermuda No. 56245). For more information, visit our website at www.valaris.com.
Warning Statements
Statements contained in this press release that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include words or phrases such as “anticipate,” “believe,” “estimate,” “expect,” “attempt,” “likely,” “plan,” “project,” “could,” “could,” “could “, “should”, “will” and similar words. The forward-looking statements contained in this press release are subject to numerous risks, uncertainties and assumptions that could cause actual results to differ materially from those indicated, including the COVID-19 outbreak and global pandemic and related public health measures implemented by governments around the world. ; the cancellation, suspension, renegotiation or termination of contracts and drilling programs, including drilling contracts that grant the customer termination rights if the final investment decision (FID) is not received in respect of the projects for which contracts the drilling rig; volatility in oil and natural gas prices, customer demand for drilling rigs; downtime and other risks associated with offshore platform operations; severe weather or hurricanes; changes in equipment supply, competition and technology worldwide; risks inherent in the reactivation, updating, repair or maintenance of shipyard platforms; our ability to enter into and the terms of future drilling contracts; suitability of platforms for future contracts; regulatory, legislative and permitting requirements affecting drilling operations; our ability to obtain financing, fund capital expenditures and pursue other business opportunities; the effects of our exit from bankruptcy on the Company’s business, relationships, comparability of our financial results and ability to access sources of financing; actions taken by regulatory authorities or other third parties, including those related to the global COVID-19 pandemic; greater scrutiny of environmental, social and governance (“ESG”) practices and reporting responsibilities; changes in client strategy; future levels of offshore drilling activity; government action, civil unrest, and political and economic uncertainties; terrorism, piracy and military action; environmental or other liabilities, risks or losses; debt covenant restrictions that may limit our liquidity and flexibility; default on our debt obligations; and cybersecurity risks and threats. In addition to the numerous factors described above, you should also carefully read and consider “Item 1A. Risk Factors” in Part I and “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations ” in Part II of our most recent Annual Report on Form 10-K, which is available on the Securities and Exchange Commission’s website at www.sec.gov or in the Investor Relations section of our website a www.valaris.com. Each forward-looking statement speaks only as of the date of the particular statement, and we undertake no obligation to update or revise any forward-looking statement, except as required by law.
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