OSLO, Norway, March 24, 2021 /PRNewswire/ -- Borr Drilling
Limited (the "Company") (NYSE: BORR) (OSE: BORR) is pleased to
announce that it has entered into agreements potentially adding a
total of USD 48 million over
approximately 590 days to the backlog.
For the rig "Natt" we have received a letter of intent with an
undisclosed new operator in Nigeria to commence operations in April 2021 for an estimated duration of 150 days,
in direct continuation of its previous contract.
The previously announced LOI for the rig "Prospector 1" has been
converted into a contact for four wells plus options for operations
with Neptune. In addition, the Prospector 1 has secured a
three-well plus option contract with Tulip for operations in
the Netherlands. As a result, the
"Prospector 1" will be fully utilised in 2021 on the Dutch
Continental Shelf with its emission reducing SCR system, and the
Company sees good opportunities for keeping the rig working into
the third quarter of 2022 if all options are exercised.
The rig "Gunnlod" has secured an extension from PTTEP for eight
additional wells in Malaysia,
which is expected to keep the rig operating up to September
2021. The rig has one further optional period still to be
confirmed which could keep the rig active for the remainder of the
year.
Forward looking statements:
This press release includes forward looking statements, which do
not reflect historical facts and may be identified by words such as
"potentially", "expected" and "will" and similar expressions and
include statements relating to the commencement of contracts of
rigs, expected backlog and other non-historical matters. Such
forward-looking statements are subject to risks, uncertainties and
other factors could cause actual events to differ materially from
the expectations expressed or implied by the forward-looking
statements included herein and other factors described in the
section entitled "Risk Factors" in our prospectuses and filings
with the Securities and Exchange Commission. These forward-looking
statements are made only as of the date of this release. We do not
undertake to update or revise the forward-looking statements,
whether as a result of new information, future events or
otherwise.
Media Contact:
Magnus Vaaler
ir@borrdrilling.com
Phone: +47 22 48 30 0
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SOURCE Borr Drilling Limited