Borr Drilling up on $715 mln three-year contracts in Mexico

Borr Drilling

20/10/2022 17:48

** Borr Drilling Ltd  BORR.N  shares up 4.8% at $3.83
    ** BORR enters into three-year contracts for five of its
jack-up rigs in Mexico for a combined contract value of $715 mln
 urn:newsml:reuters.com:*:nPn6JNjr7a
    ** Jack-up rigs drill wells in shallow waters of less than
400 ft, and can be used to drill wells to a maximum depth of
35,000 ft under the sea bed
    ** Jack-up rigs are used for oil and gas exploration
drilling
    ** Accounting for session gains, company's shares up 86% YTD
 (Reporting by Arshreet Singh in Bengaluru)
 ((Arshreet.Singh@thomsonreuters.com))