Valaris Jack-Up Reaches Angola, Prepares for Multi-Well Contract

Valaris Ltd. VAL, an offshore drilling contractor, has stated that its jack-up rig, Valaris 144, has reached Angola to begin its new drilling assignment. The rig had completed its project in Corpus Christi, Texas, and began its journey to Angola in late January.In 2024, Valaris announced that it has signed a deal with an undisclosed operator in Angola. The contract involves drilling one well offshore Angola, starting in the first quarter of 2025. The estimated duration of this contract is 45 days. The total contract value is estimated to be nearly $8.5 million.Valaris 144 has also secured a 13-well contract with the same operator in Angola, with an estimated duration of 730 to 770 days. The contract is scheduled to begin in the second quarter of 2025. The total contract value is estimated to be between $149 million and $156 million.VAL’s Zacks Rank and Key PicksVAL currently carries a Zacks Rank #5 (Strong Sell).Some better-ranked stocks from the energy sector are Archrock Inc. AROC, Matador Resources Corporation MTDR and NextDecade Corporation NEXT. Archrock currently sports a Zacks Rank #1 (Strong Buy), while Matador Resources and NextDecade carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.Archrock is an energy infrastructure company based in the United States with a focus on midstream natural gas compression. It provides natural gas contract compression services and generates stable fee-based revenues.Matador Resources is a leading U.S.-based exploration and production firm. The company has consistently exceeded production expectations, demonstrating operational efficiency and robust growth. MTDR’s production efficiency, combined with the favorable oil price environment, is expected to positively impact its bottom line.NextDecade is an emerging player in the LNG space with its Rio Grande LNG project in Texas. The demand for LNG as a clean burning fuel continues to grow, and the commodity is expected to play a crucial role in the energy transition process. The company’s focus on expanding its liquefaction capacity is expected to enhance its position in the rapidly growing global LNG market, enabling it to meet the rising demand for natural gas.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Valaris Limited (VAL): Free Stock Analysis Report Matador Resources Company (MTDR): Free Stock Analysis Report Archrock, Inc. (AROC): Free Stock Analysis Report NextDecade Corporation (NEXT): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks