Borr Drilling secures work for three warm stacked rigs

Offshore driller Borr Drilling has entered into new contracts and letters of intent for three of its currently warm stacked rigs, adding $21m to its total backlog.

According to the company’s latest fleet status report, the company’s jackup rig Saga and Gunnlod have been contracted by PTTEP for operations in Malaysia from September 2020 to March 2021.

Additionally, Borr has received a letter of intent from an undisclosed customer for its jackup rig Norve in West Africa starting from the first quarter of 2021.

The latest awards will bring the company’s total number of committed and contracted rigs up to 14.

Borr said it has three additional warm stacked rigs which can be brought into operation without significant activation capex.

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