Ensco Rowan plc announced today that it will change its name to Valaris plc, effective July 31, 2019. Following its name change, the Company’s ordinary shares will trade under the new ticker symbol VAL.
The name Valaris was selected following a comprehensive process that included participation from the Company’s employees around the world, feedback from customers and other market research. This new name was inspired by the Latin root meaning strength, courage and signifying something of value, and the Valaris name embodies the Company’s ambition to be ‘Boldly First’ as the leader in our industry.
President and Chief Executive Officer Tom Burke said, “We are excited to create a new identity as Valaris that will help us usher in a new era for our company and the industry. This new identity will help to accelerate cultural alignment as we move forward as a larger, more diverse organization and act as a catalyst to achieve our ambition to be ‘Boldly First’ as the leader in the offshore services industry.”
Dr. Burke added, “Our purpose is to provide responsible solutions that deliver energy to the world, and to achieve this we will follow a set of core values that guide our actions. By living these values each day, we improve our ability to serve our customers and create meaningful value for our stakeholders.”
Ensco Rowan plc (NYSE: ESV) is the industry leader in offshore drilling services across all water depths and geographies. Operating a high-quality rig fleet of ultra-deepwater drillships, versatile semisubmersibles and modern shallow-water jackups, EnscoRowan has experience operating in nearly every major offshore basin. With an unwavering commitment to safety and operational excellence, and a focus on technology and innovation, EnscoRowan was rated first in total customer satisfaction in the latest independent survey by EnergyPoint Research – the ninth consecutive year that the Company has earned this distinction. Ensco Rowan plc is an English limited company (England No. 7023598) with its corporate headquarters located at 6 Chesterfield Gardens, London W1J 5BQ. To learn more, visit our website at www.enscorowan.com.