Item 7.01 Regulation FD Disclosure

Valaris plc (the "Company") has elected not to make the approximately
$13.3 million interest payment (the "Interest Payment") due and payable on June
15, 2020 with respect to its 7.375% Senior Notes due 2025 (the "Notes"). Under
the indenture governing the Notes, the Company has a 30-day grace period to make
the Interest Payment before such non-payment constitutes an "event of default"
with respect to the Notes. The Company has elected to enter into the 30-day
grace period, which expires on July 15, 2020. As of June 12, 2020, the Company
had approximately $208 million in cash, in addition to available borrowing
capacity under its revolving credit facility. The Company continues to have
discussions with its lenders and bondholders regarding the terms of a potential
comprehensive restructuring of its indebtedness.
The information in this Current Report on Form 8-K is being "furnished" pursuant
to Item 7.01 and shall not be deemed to be "filed" for purposes of Section 18 of
the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or
otherwise subject to the liabilities of that section, and is not incorporated by
reference into any Company filing, whether made before or after the date hereof,
regardless of any general incorporation language in such filing.
Forward-Looking Statements
Statements contained in this Current Report on Form 8-K 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 Exchange Act.
Forward-looking statements include words or phrases such as "anticipate,"
"believe," "estimate," "expect," "intend," "plan," "project," "could," "may,"
"might," "should," "will" and similar words. Such statements are subject to
numerous risks, uncertainties and assumptions that may cause actual results to
vary materially from those indicated, including the potential outcome of the
Company's evaluation of strategic alternatives and the Company's debt levels,
liquidity and ability to access financing sources, and debt restrictions that
may limit our liquidity and flexibility. 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, as updated in our subsequent quarterly reports on
Form 10-Q, which are available on the Securities and Exchange Commission's
website at www.sec.gov or on the Investor Relations section of our website at
www.valaris.com. Each forward-looking statement speaks only as of the date of
the particular statement, and we undertake no obligation to publicly update or
revise any forward-looking statements, except as required by law.

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