Chris Weber has commenced his role as senior vice-president and chief financial officer at Valaris Limited, the Bermudian-based offshore drilling services company.

Mr Weber, who was appointed in May, previously served as chief financial officer of Lufkin Industries, the global provider of rod lift optimisation solutions, products, technologies and services to the oil and gas industry.

He has also served as chief financial officer of Abaco Drilling Technologies, Halliburton and Parker Drilling Company, and also held senior finance roles at Valaris’s predecessor companies, Ensco and Pride International.

President and chief executive officer Anton Dibowitz said: “Chris’s deep industry experience further strengthens our leadership team and will help us execute our strategy of being value-driven, focused and responsible in our decision-making in order to maximise shareholder value.”

Meanwhile, Valaris has just reported net income of $113 million in the second quarter compared with a net loss of $40 million in the first quarter of the year.

The company said revenues increased to $413 million from $318 million in the first quarter.

The increase was primarily due to a $51 million fee related to the termination of a contract for drillship Valaris DS-11, as well as higher utilisation and average day rates for both the floater and jack-up fleets.

Contract drilling expense increased to $362 million in the second quarter from $331 million in the first quarter.

Other income increased to $149 million from $9 million in the first quarter.