Borr Drilling Limited – Announcement of Letter of Award for jack-up drilling rig
Borr Drilling is pleased to announce it has secured a Letter of Award (“LOA”) for the premium jack-up drilling rig “Mist” from an undisclosed operator in Southeast Asia. The program is expected to commence in November 2021 with a duration of seven months plus options. The net start-up cash cost for the rig is expected to be $1.75 million. This LOA, which is expected to be converted into a contract shortly, will increase the company’s contracted fleet to 15 rigs.
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