Borr Drilling rig awarded $123M contract for work in Latin America

Borr Drilling announced that its premium jack-up rig "Hild" has been awarded a contract from an undisclosed customer for work in Latin America. The contract duration covers a firm term of 725 days and is expected to commence in Q3, following the conclusion of the rig’s ongoing activation. The estimated contract value is $123M, including mobilization and demobilization fees. Following this award, all of the Company’s 22 delivered units are now contracted or committed, with no open availability until late Q3. Amidst an improving market, the Company remains optimistic about recontracting opportunities for its premium fleet.