A valve assembly convertible from a first configuration to a second configuration may include a housing, a flapper attached to the housing adjustable between an open position and a closed position, a valve tubular releasably connected to the housing, an upstream barrier attached to the valve tubular and a downstream barrier attached to the valve tubular, and a tubular plug located within the valve tubular and moveable between the upstream and downstream barriers. The flapper may be in the open position when the valve assembly is in the first configuration and in the closed position when the valve assembly is in the second configuration. The upstream and downstream barriers may be positioned to prevent removal of the tubular plug from the valve tubular. The valve assembly may be used in conjunction with float equipment.