Offshore oil driller Valaris PLC is exploring debt restructuring options as it grapples with a rig accident and a broader collapse in energy prices, people familiar with the matter said on Friday. Valaris has tapped debt restructuring attorneys at law firm Kirkland & Ellis LLP for advice on ways to rework its roughly $6.5 billion debt pile, and is exploring enlisting a turnaround firm that specializes in urgently addressing stressed finances to bolster its roster of advisers, the sources said. The London-based company had already been working with investment bank Lazard Ltd on options for addressing its debt, in addition to a series of cost-cutting measures already underway. No formal debt restructuring, such as a bankruptcy filing, is imminent for Valaris, even as the company considers significant steps to rework its finances, the sources added. It had $1.7 billion of liquidity available at the end […]