Borr Drilling secures two new jackup contracts

Borr Drilling signed new contract commitments for two of its premium jackup rigs. The Ran received a one-well extension with Eni in Mexico. The well has an anticipated duration of 75 days, keeping the rig on firm contract through March 2026. The remaining options under the contract allow for 240 days of extension beyond the end of the new committed term.

Additionally, the Odin secured a contract for two wells plus an optional well with an undisclosed operator in the US. The campaign is expected to commence mid-2026, with an estimated duration of 60 days per well.

As a result of the Odin’s new firm commitment, an option mechanism in the rig’s previously announced contract for work in the Gulf of Mexico has been activated that provides the customer, Cantium, with six months of optional period commencing in January 2027.