Valaris (VAL) Soars Following Merger News with Transocean

The share price of Valaris Limited (NYSE:VAL) surged by 53.76% between February 6 and February 13, 2026, putting it among the Energy Stocks that Gained the Most This Week.

Valaris Limited (NYSE:VAL) provides offshore contract drilling services in Brazil, the United Kingdom, the US Gulf of Mexico, Australia, Angola, and internationally.

Valaris Limited (NYSE:VAL) skyrocketed on February 10 following reports that Transocean had agreed to acquire the company in an all-stock deal valued at around $5.8 billion, creating an offshore drilling industry leader with a fleet of 73 rigs, including 33 ultra-deepwater drillships, 9 semisubmersibles, and 31 modern jackups.

Under the terms of the agreement, Valaris Limited (NYSE:VAL) shareholders will receive a fixed exchange ratio of 15.235 common shares of Transocean stock for each Valaris share. The combined company will have an enterprise value of roughly $17 billion, with Valaris shareholders owning approximately 47% and the remaining 53% going to Transocean shareholders. The transaction is expected to close in the second half of 2026.

Anton Dibowitz, CEO of Valaris Limited (NYSE:VAL), commented:

”By combining with Transocean, we will create a new industry leader for the benefit of our shareholders, customers and employees. We look forward to complementing Transocean’s high-specification deepwater assets with our own, while returning world class jackup expertise to Transocean’s business, creating a combined company that is capable of operating any rig at any water depth in any offshore environment around the world.”

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Disclosure: None.