Borr Drilling Wins $155Mln New Contracts

November 3, 2019

The offshore drilling contractor, Borr Drilling has been awarded three new contracts and two extensions for its rig fleet, adding about $155 million to its backlog.

The new contracts comprising two newbuilds, one warm stacked rig and extensions of two active rigs. This is expected to add approximately 55 months.

In addition, the previously reported Letter of Authorization (LOA) for Prospector 1 has been converted into a firm contract.

Two of the announced contracts are with Pemex and will be based on the same integrated services structure that of the three other rigs the Company has contracted with Pemex.

With the activations of two additional newbuild units and the reactivation of a warm stacked unit, the company has increased the number of contracted and committed rigs to 18.

In addition, the company has commenced activation of an additional newbuild rig from Keppel as result of advanced negotiations for a contract with expected start-up in January 2020.



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