Borr Drilling Bags New Rig Contract Worth $123M

April 10, 2023 6:34 AM | 1 min read |

Borr Drilling Limited's BORR premium jack-up rig "Hild" has secured a contract worth $123 million, including mobilization and demobilization fees, for work in Latin America, from an undisclosed customer.
The contract covers a firm term of 725 days and is expected to commence in the third quarter of 2023.
Borr Drilling's 22 delivered units are now contracted or committed, with no open availability until the late third quarter. The company remains optimistic about recontracting opportunities for its premium fleet.
Price Action: BORR shares closed lower by 2.59% at $7.14 on Thursday.