Offshore drilling contractor Borr Drilling has secured a new contract for one of its premium jack-up drilling rigs from an undisclosed company in Latin America.
Borr Drilling announced a new contract on Monday, 10 April 2023, for its Hild premium jack-up rig for work in Latin America. According to the company, the contract covers a firm term of 725 days and is expected to start in 3Q 2023, following the conclusion of the rig’s ongoing activation.
The offshore drilling player outlines that the estimated value of the contract is $123 million, including mobilisation and demobilisation fees. Following this award, all of Borr Drilling’s 22 delivered units are now contracted or committed, with no open availability until late 3Q 2023.
The 2020-built Hild jack-up rig is of Keppel FELS Super B Class design and can accommodate 150 people. Constructed at Keppel Fels in Singapore, the rig is capable of operating in water depths of up to 400 ft and its maximum drilling depth is 35,000 ft.
“Amidst an improving market, the company remains optimistic about recontracting opportunities for its premium fleet,” underscored Borr Drilling.
This deal comes after Borr Drilling received a letter of award (LOA) for another premium jack-up drilling rig in Latin America and won more work for three premium jack-up rigs , thanks to a new deal and two contract extensions.