Borr Drilling falls after its rig sank off Gabon
BUZZ-Borr Drilling falls after its rig sank off Gabon ** Oslo-listed shares in Borr Drilling BORR.OL fall about 7% after the company's Prospector 5 jack-up rig sank off Gabon during preloading operations, leaving one worker dead and four missing
** BW Energy BWE.OL and Panoro Energy PENR.OL, partners in the Dussafu Marin licence where the Prospector 5 rig was due to support upcoming drilling operations, also fall 7-10%
** DNB Carnegie says the incident will delay Panoro Energy's 2027-28 MaBoMo Phase 2 drilling programme and other planned activity in the area, with the timing now dependent on how quickly a replacement rig can be mobilised
** The broker sees around 10% downside risk to 2027 production consensus forecasts for Panoro Energy and estimates potential negative FCF revisions of $10 million-$20 million from drilling delays
(Reporting by Agnieszka Gosciak-Rabalska)
((gdansk.newsroom@thomsonreuters.com; +48 58 769 66 00;))
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