VALARIS PLC
Company number 07023598 · Monitor this company
The annual accounts for this company are overdue.
The confirmation statement for this company is overdue.
Executive summary
VALARIS PLC represents a case study in the extreme cyclicality and capital intensity of the offshore drilling sector, where even the largest global operators proved vulnerable to the prolonged downturn in dayrates and utilisation following the 2014 oil price collapse and exacerbated by COVID-19. The company's 2019 formation through the Ensco-Rowan merger created scale advantages but also amplified balance sheet stress at precisely the wrong point in the cycle. Its current liquidation status and filing delinquencies reflect the cross-jurisdictional complexity of restructuring a global drilling group through US Chapter 11 proceedings, rather than operational cessation — the wider Valaris group continues to trade post-restructuring with a deleveraged balance sheet more typical of sector norms.
Overview
- Company type
- Public Limited Company
- Incorporated
- 2009-09-18
- Registered office
- Suite 3, Avery House, 69 North Street, Brighton, BN41 1DH
- Postcode
- BN41 1DH
- Capital
- 46,071,952 USD
- Accounts category
- Group
Accounts
- Last made up to
- 2019-12-31
- Next due by
- 2021-06-30 Overdue
- Financial year end
- 31 December
Confirmation statement
- Last statement dated
- 2020-09-18
- Next due by
- 2021-10-02 Overdue
Nature of business (SIC)
- 9100 Support activities for petroleum and natural gas mining
Officers 0 current · 44 resigned
Group structure 6 subsidiaries
-
ENSCO GLOBAL RESOURCES LIMITED Dissolved
-
ENSCO LIMITED Dissolved
From persons-with-significant-control filings on the public register.
Previous company names
| Name | Date changed |
|---|---|
| ENSCO ROWAN PLC | 2019-07-30 |
| ENSCO PLC | 2019-04-11 |
| ENSCO INTERNATIONAL PLC | 2010-03-31 |
| ENSCO INTERNATIONAL LIMITED | 2009-12-18 |
| ENSCO UK (NO. 1) LIMITED | 2009-09-25 |
Previous registered addresses 2
| Address | Changed on |
|---|---|
| 6 CHESTERFIELD GARDENS, 3RD FLOOR, LONDON, W1J 5BQ, UNITED KINGDOM | 2019-12-06 |
| 100 NEW BRIDGE STREET, LONDON, EC4V 6JA | 2010-03-02 |
The class of 2009
20%
of the 238 companies in this sector incorporated in 2009 are still active today; 78% have since been dissolved.
A fact about the year, not a forecast for this company.