Borr Drilling signs $123 million contract for jack-up rig in Latin America

World Oil Staff April 10, 2023

(WO) – Borr Drilling Limited announced that its premium jack-up rig "Hild" has been awarded a contract from an undisclosed customer for work in Latin America. The contract covers a firm term of 725 days and is expected to begin in Q3 2023, following the conclusion of the rig's ongoing activation. The estimated contract value is $123 million, including mobilization and demobilization fees.

Following this award, all of Borr’s 22 delivered units are now contracted or committed, with no open availability until late Q3 2023. Amidst an improving market, Borr remains optimistic about recontracting opportunities for its premium fleet.

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