A completion assembly with a valve assembly for regulating fluid flow in a wellbore is disclosed. The completion assembly can include a base pipe with a sand screen. A flow control housing is disposed on one end of the sand screen. A first tubular port in the base pipe leads into the flow control housing, and a second tubular port is also formed in the base pipe. A flow path is formed within the flow control housing and communicates with both the base pipe and the inner annulus of the screen assembly. A valve assembly is located in the flow control housing and is in fluid communication with both the inner annulus and the base pipe. The valve assembly is positionable between multiple positions for controlling the flow through the flow control flowpath in response to fluid pressure applied to the second tubular port.