Borr Drilling extends contracts for three jackups in Mexico

Borr Drilling secured additional work for three of its jackups operating offshore Mexico while also confirming the termination of two other contracts due to international sanctions.

The Galar and Gersemi rigs each received two-year firm extensions plus two one-year unpriced options, while the Njord was extended through April 2026. Together, the awards added approximately $213 million in backlog.

Separately, contracts for the Odin and Hild rigs were cancelled on 24 October as a result of newly enacted sanctions involving the customer. Borr noted that the affected contracts had been due to run into 2025 and 2026. The mixed update underscores both ongoing drilling demand in Mexico and the operational risks that sanctions can pose to fleet deployment.