Global and Regional MarketsNewsThe Offshore Frontier

Borr Drilling secures nearly $160M in contracts for three jackups

Borr Drilling announced new contracts for three jackup rigs, the Prospector 1, Gunnlod and one other still to be determined.  The contracts total 820 days and represent approximately $160 million in revenue, including mobilization and demobilization compensation.

In the North Sea, multiple contracts have been secured, totaling 250 days of backlog that began in March 2024.

In Southeast Asia, Borr has secured a one-well commitment, with an anticipated duration of 90 days, set for May 2024.

Finally, an undisclosed customer has issued a firm and binding Letter of Award for work expected to commence between Q4 2024 and Q1 2025, with an estimated duration of 480 days.

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