Borr Drilling Secures Additional Activity

Source: www.gulfoilandgas.com 3/24/2021, Location: Europe

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

For the rig “Natt” we have 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.


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