Brief: Borr Drilling Awarded New Contracts For Two Of Its Jack-Up Drilling Rigs

Borr Drilling

30/12/2022 06:54

Dec 30 (Reuters) - Borr Drilling Ltd  BORR.OL :
    * ANNOUNCEMENT OF NEW CONTRACTS AND FLEET STATUS REPORT
    * JACK-UP DRILLING RIG "FRIGG" HAS SECURED LONG-TERM
CONTRACT FROM
AN UNDISCLOSED CUSTOMER FOR WORK IN MIDDLE EAST
    * CONTRACT HAS A FIRM DURATION OF 5 YEARS PLUS OPTIONS AND
IS
EXPECTED TO COMMENCE IN Q3 OF 2023
    * ESTIMATED CONTRACT VALUE OF FIRM TERM, INCLUDING
MOBILIZATION
FEE, IS $282 MILLION
    * JACK-UP DRILLING RIG "GUNNLOD" HAS RECEIVED A BINDING
LETTER OF
AWARD FROM UNDISCLOSED CUSTOMER FOR WORK IN SOUTHEAST ASIA
    * ESTIMATED CONTRACT VALUE IS $27.5 MILLION
    * PROGRAM HAS AN ESTIMATED DURATION OF 205 DAYS AND IS
EXPECTED TO
COMMENCE IN JUNE 2023
    * AWARDS INCREASE CO'S BACKLOG BY ABOUT 2,030 DAYS,
EXCLUDING
OPTIONAL PERIODS

Source text for Eikon:  ID:nWkr7G11lH 
Further company coverage:  BORR.OL 
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