Borr Drilling signs new contract commitments
Borr Drilling announced new contract commitments for two of its premium jackup rigs and an additional fleet update.
In the North Sea, the Prospector 1 has received separate binding Letters of Award from Dana Petroleum and ONE-Dyas in the Netherlands. The Dana Petroleum commitment is for one well, with an anticipated duration of 30 days, scheduled to commence in November 2025.
The ONE-Dyas commitment covers a period of three wells, with an anticipated duration of 210 days, and is expected to commence in December 2025, in direct continuation of the previous contract. The ONE-Dyas award includes options that may extend the work by an additional 210 days.
In West Africa, the Natt has secured a contract with New Age in Congo. The firm scope of one well has an anticipated duration of 60 days scheduled to commence November 2025.
These new commitments cover a combined duration of 300 days and represent more than $43 million in contract revenue backlog, excluding options, mobilization and demobilization compensation.
Additionally, the previously announced LOA for the Odin in Mexico has converted into a contract and the rig has commenced operations under the contract.
