Borr Drilling climbs on receiving contracts of $309.5 mln

Borr Drilling

30/12/2022 16:27

** U.S.-listed shares of oilfield services provider Borr
Drilling Ltd  BORR.OL   BORR.N  climb 11.3% to $5.49; stock
among the top pct gainers on NYSE  .PG.N 
    ** Borr says it has been awarded new contracts for two of
its premium jack-up drilling rigs  urn:newsml:reuters.com:*:nWkr7G11lH
    ** Jack-up drilling rig "Frigg" has secured a long-term
contract from an undisclosed customer for work in the Middle
East; estimated contract value, including mobilization fee, is
$282 mln - company
    ** Jack-up drilling rig "Gunnlod" has received a binding
letter of award from an undisclosed customer for work in
Southeast Asia; estimated contract value is $27.5 mln
    ** Borr's jack-up rigs are capable of drilling to a maximum
well depth of 35,000 feet while operating in water depths
ranging from 30 to 400 feet
    ** Awards increase company's backlog by about 2,030 days,
excluding optional periods
    ** Shares of Borr up ~166% so far this year
 (Reporting by Arunima Kumar in Bengaluru)
 ((Arunima.Kumar@thomsonreuters.com; Twitter: https://twitter.com/Aru_Kumar94))