Borr Drilling secures additional contracts

Source: press release, 24 March 2021

photo: Borr Drilling
photo: Borr Drilling

Borr Drilling Limited has announced that it has entered into agreements potentially adding a total of USD 48 million over approximately 590 days to the backlog.

For the rig Natt, Borr Drilling has received a letter of intent with an undisclosed new operator in Nigeria to commence operations in April 2021 for an estimated duration of 150 days, in direct continuation of its previous contract.

The previously announced LoI for the rig Prospector 1 has been converted into a contact for four wells plus options for operations with Neptune.

In addition, the Prospector 1 has secured a three-well plus option contract with Tulip for operations in the Netherlands. As a result, the Prospector 1 will be fully utilised in 2021 on the Dutch Continental Shelf with its emission reducing SCR system, and the company sees good opportunities for keeping the rig working into the third quarter of 2022 if all options are exercised.

The rig Gunnlod has secured an extension from PTTEP for eight additional wells in Malaysia, which is expected to keep the rig operating up to September 2021. The rig has one further optional period still to be confirmed which could keep the rig active for the remainder of the year.