Odin begins US contract as Borr Drilling wins Idun deal in Vietnam

Borr Drilling provided operational and contracting updates across its jackup fleet, including the start of dayrate operations for the Odin in the US and a new contract award for the Idun offshore Vietnam.

Following mobilization offshore Texas in mid-August and subsequent acceptance testing, the Odin commenced its contract and began earning dayrate revenues on 11 September 2026. In Southeast Asia, the Idun was awarded a three-well campaign with an undisclosed operator in Vietnam, with an estimated duration of 130 days scheduled to begin in the fourth quarter of 2026, in direct continuation of the rig’s current contract.

In Europe, Eni exercised a nine-month option on the Bestla, extending the contract to September 2027, with an additional fixed-price nine-month option available. Borr Drilling is expected to assume operational management of the rig in Q4 2026 following completion of its bareboat charter with the prior owner.