Borr Drilling Enters into Agreement to Sell Atla Rig

Source: www.gulfoilandgas.com 10/28/2020, Location: South America

Borr Drilling Limited has entered into an agreement to sell its cold stacked jack-up drilling rig “Atla” to an independent operator. The completion of the sale is expected in the fourth quarter 2020. Together with the previously announced sale of the standard jack-up drilling rig “Eir”, which has been completed in October, the Company will record total cash proceeds of USD 13 million.

With the sale of these jack-ups, Borr Drilling continues to deliver on its fleet strategy of divesting inactive, cold stacked units and focus on the modern and highly efficient core fleet of premium jack-up rigs. Following these rig sales, Borr Drilling will have 28 modern assets built after 2011, and one remaining older cold stacked rig which is likely to be sold within the fourth quarter.


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