Borr Drilling shares fall after rig sinks offshore Gabon
Borr Drilling shares fall after rig sinks offshore Gabon Oct 26 (Reuters) - Oslo-listed shares of Borr Drilling BORR.OL fell on Monday after its Prospector 5 rig sank off Gabon, killing one worker and leaving four missing, according to three sources who spoke to Reuters on Sunday.
The sinking has taken a rig booked for nearly a year out of service and threatens to delay new oil production that BW Energy BWE.OL had targeted for early next year.
The shares were down 7% at 0830 GMT, paring losses after falling as much as 11.4% to an over two-month low
The Gabonese government has not confirmed the death, instead saying five people remain missing with searches ongoing
Borr said on Monday that 110 of 115 people aboard were safe and five remained unaccounted for
It said preliminary information indicated a "punch-through" during drilling preparations, an incident where one or more rig legs suddenly sink much deeper into the seabed than intended
Shares in BW Energy BWE.OL and Panoro Energy PENR.OL, partners in the Dussafu license where the rig was to drill, fell 7% and 10% in early Oslo trading
Gabon's oil ministry has ordered a technical investigation into the sinking. In March 2024, a fire at a separate Perenco oil platform offshore Gabon killed five people
(Reporting by Jesus Calero in Gdansk, editing by Milla Nissi-Prussak)
((jesus.calero@thomsonreuters.co jesus.calero@thomsonreuters.copmm))
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