The US Bankruptcy Court gave an order approving the sale of certain assets of Valaris plc on January 22, 2021. The debtor has been authorized to sell its certain to JSC “Arktikmorneftegazrazvedka”, for a purchase price of $25 million in cash in a private sale pursuant to the asset purchase agreement. Under the terms of the asset purchase agreement, the buyer shall make an earnest money deposit of $2.5 million upon the execution of the agreement. The debtor’s assets include Ensco 101. The proceeds from the sale would be used to pay off the amount owed to the debtor’s pre-petition lender.