Borr Drilling’s Ran jackup received a Letter of Award from an undisclosed customer for work in Latin America. This award covers a two-well campaign with an estimated duration of 200 days on a dry-hole case and up to 460 days on a success case. The work will commence in October 2023 and has an estimated contract value, including mobilization and demobilization fees, of $30.4 million on a dry-hole case.
The Ran is currently on a contract with Wintershall in Mexico that is expected to keep the rig committed until Q2 2023. Borr Drilling said in a statement that it “remains in constructive discussion with other customers in the region for further work to cover the available time between these two programs.”