Borr Drilling Announces LOI for Jack-up Drilling Rig

Source: www.gulfoilandgas.com 8/4/2022, Location: Africa

Borr Drilling Limited has received a binding Letter of Intent (“LOI”) for the premium jack-up drilling rig “Prospector 5” from an undisclosed operator in West Africa. The 6-well firm program is expected to commence during Q4 2022 and has an estimated duration of fourteen months plus options. This LOI, which is expected to be converted into a contract shortly, has an estimated total contract value of $68.9 million (excluding options).


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