Borr Drilling Expands Its Fleet with Five New Jack-Up Rigs
Borr Drilling Limited (NYSE and Euronext Growth Oslo: BORR) has successfully completed its acquisition of five premier jack-up rigs, solidifying its reputation in the offshore drilling sector. This significant transaction, valued at $360 million, marks a major milestone in the company’s journey to enhance its service capabilities across various offshore markets.
This acquisition brings Borr Drilling's total rig count to 29, further establishing the company as a prominent player in the global market for premium jack-up rigs. With this expansion, Borr retains the youngest fleet amongst its peers, which is tailored to meet the evolving demands of the industry while providing superior service to its clients.
The Chief Executive Officer of Borr Drilling, Bruno Morand, expressed his enthusiasm, stating, "This timely acquisition further amplifies our premium fleet, which is ideally positioned to seize emerging opportunities in the current market landscape. Our existing rigs and the newly acquired vessels align perfectly, enhancing our operational excellence and client-focused approach. We believe that these additions will bolster long-term relationships with our customers and drive substantial value for our stakeholders."
New Names for Jack-Up Rigs
Renaming of the Newly Acquired Rigs
As part of the acquisition process, the five jack-up rigs will undergo a renaming to streamline their integration into Borr's fleet. The new names for these rigs have been officially announced:
- Legacy Rig Name: Noble Regina Allen ? New Rig Name: Sif
- Legacy Rig Name: Noble Tom Prosser ? New Rig Name: Freyja
- Legacy Rig Name: Noble Mick O'Brien ? New Rig Name: Forseti
- Legacy Rig Name: Noble Resolute ? New Rig Name: Bestla
- Legacy Rig Name: Noble Resilient ? New Rig Name: Joro
Fleet Status Update
Along with the acquisition, an updated Fleet Status Report will be released. This report will provide a comprehensive overview that incorporates the newly added rigs, reflecting Borr Drilling's commitment to transparency and keeping stakeholders informed of its latest operational developments.
About Borr Drilling
Borr Drilling Limited is an internationally acclaimed drilling contractor founded in 2016 and has been publicly listed since 2019. The company specializes in operating modern, high-specification jack-up rigs, primarily serving the shallow-water segment of the offshore oil and gas industry worldwide. Borr Drilling strives to meet the rigorous standards of safety and efficiency, resulting in exceptional service delivery to its clients across the globe.
For further information about Borr Drilling Limited and its operations, interested parties can visit the company's official website.
Frequently Asked Questions
What was the total purchase price for the five jack-up rigs?
The total purchase price for the five jack-up rigs was $360 million.
How many rigs does Borr Drilling now own?
With this acquisition, Borr Drilling now owns a total of 29 rigs.
What are the new names of the acquired jack-up rigs?
The newly acquired rigs will be named Sif, Freyja, Forseti, Bestla, and Joro.
What is the specialty of Borr Drilling’s operations?
Borr Drilling specializes in providing services in the shallow-water segment of the offshore oil and gas industry.
When was Borr Drilling incorporated?
Borr Drilling Limited was incorporated in 2016.
