Borr Drilling Limited (NYSE and OSE: BORR) studies that it has been awarded new contracts for 2 of its premium jack-up drilling rigs. The awards enhance the corporate’s backlog by roughly 2,030 days, excluding non-compulsory intervals.
The premium jack-up drilling rig Frigg has secured a long-term contract from an undisclosed buyer for work within the Middle East. This contract has a agency length of 5 years plus choices and is anticipated to begin within the third quarter of 2023 following the completion of the rig’s reactivation. The estimated contract worth of the agency time period, together with mobilization price, is $282 million.
The premium jack-up drilling rig Gunnlod has obtained a binding Letter of Award (“LOA”) from an undisclosed buyer for work in Southeast Asia. The program has an estimated length of 205 days and is anticipated to begin in June 2023 following the completion of its present agency contracts and a statutory periodic survey. The estimated contract worth is $27.5 million.
Borr says these awards enhance its contracted fleet to 21 rigs out of a complete of twenty-two delivered rigs.
Check out Borr Drilling’s Fleet Status Report HERE
