Borr Drilling Clinches $211M in Drilling Contracts For Dual Jack-Up Rigs In West Africa

Borr Drilling Limited's BORR premium jack-up rigs "Prospector 5" and "Natt" have secured a contract worth $211 million for work in West Africa from an undisclosed customer.

The contract covers a firm term of 1,307 days, combining both rigs.

The "Prospector 5" rig is a Friede & Goldman JU2000E design, accommodating 140 persons with a maximum drilling depth of 35,000ft.

The "Natt" rig is a PPL Pacific Class 400 design, accommodating 150 persons, with a maximum drilling depth of 30,000ft. 

Under this deal, the "Prospector 5" and "Natt" will remain contracted until May 2026 and December 2025, respectively.

The latest deal is in direct continuation of their current contracts. 

Price Action: BORR shares are trading higher by 5.15% to $7.36 premarket on the last check Tuesday.

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