Borr Drilling Sold Two Standard Jack-up Drilling Rigs

Source: www.gulfoilandgas.com 4/30/2020, Location: South America

A wholly owned subsidiary of Borr Drilling Limited has on April 30, 2020, sold two standard jack-up drilling rigs, the “Dhabi II” and the “Paragon B152”, for total cash proceeds of $15.8 million, including the associated backlog effective from April 1, 2020. The Company will continue to operate the rigs under a services agreement which will ensure continuity for our customer. The rigs are unencumbered, and the liquidity effect for the Company is equal to the sales proceeds. The Company expects to record a gain of approximately $11.5 million. The sale of the rigs is in line with the Company’s long term strategy to focus on the operation of its core fleet of modern jack-up drilling rigs.


Bermuda >>  6/27/2022 - In order to sell the "Tivar," "Huldra," and "Heidrun" (collectively referred to as the "Transaction Rigs"), three high-specification units being built...
United Kingdom >>  6/23/2022 - Noble Corporation has entered into an asset purchase agreement to sell five jackup rigs for $375 million to a newly formed subsidiary ("Buyer") of She...

Saudi Arabia >>  6/22/2022 - The contract extensions for the AOD I, AOD III, and West Callisto for work offshore in the Arabian Gulf have been awarded to Seadrill Limited ("Seadri...
United Kingdom >>  6/22/2022 - In addition to our press release from June 9, 2022, Awilco Drilling Plc announces that the previously mentioned sale of the drilling rig WilHunter has...

Norway >>  6/21/2022 - The Petroleum Safety Authority Norway (PSA) has given an order to Equinor after an audit of that company and KCA Deutag (KCAD) as well as their develo...
Brunei Darussalam >>  6/17/2022 - In recognition of the drillship’s outstanding performance in all aspects during its time in Brunei Darussalam, Shell has named Maersk Viking its 2021 ...




Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.