The largest offshore drilling and well drilling company in the world, Valaris PLC is currently talking to creditors to check
possible bankruptcy possibilities. The London headquartered company is fighting against $6.5 billion debt burden.
Valaris, which employs around 5800 people worldwide, was working with debt restructuring advisers such as Alvarez
& Marsal in March, trying to cope with an accident occurred on a rig. Since then, energy prices have fallen into
negative for the first time in history with a consequent demand collapse and this has put Valaris into a further critical
situation.