Offshore drilling contractor Borr Drilling has received a letter of award (LOA) for one of its premium jack-up drilling rigs from an undisclosed company in Latin America.
Borr Drilling reported on Friday that the award would cover a two-well campaign with an estimated duration of 200 days on a dry-hole case and up to 460 days on a success case. The work, which will be carried out by the Ran jack-up rig, is slated to start in October 2023. The estimated contract value for this deal, including mobilisation and demobilisation fees, is $30.4 million on a dry-hole case.
The 2013-built Ran rig is currently on a contract with Wintershall in Mexico which is expected to keep the rig committed until 2Q 2023. Borr highlights that it remains in “constructive discussion” with other customers in the region for further work to cover the available time between these two programmes.
The Ran jack-up rig is of KFELS Super A design. It was constructed at Keppel KFELS yard in Singapore and can operate in water depths of up to 400 ft. The rig’s maximum drilling depth is 35,000 ft.
Regarding Borr Drilling’s recent deals, it is worth noting that the offshore drilling contractor secured new long-term deals for two jack-up rigs at the end of December 2022 with undisclosed oil and gas companies in the Middle East and Southeast Asia.