Offshore drilling operator Borr Drilling has signed a charter with an undisclosed oil and gas player for three of its premium jackup rigs.
These new contract commitments have been secured for three jackup rigs: the Prospector 1, the Gunnlod and another rig yet to be identified. The total contract period is 820 days, which will generate $158.6 million in contractual revenue, including mobilization and demobilization reimbursement.
Built in 2013, the jackup rig “Prospector 1” is in Friede & Goldman JU2000E design, built by Dalian Shipbuilding Offshore Co., Ltd. (DSOC). It has a maximum drilling depth of 35,000 feet, can operate in water depths of 400 feet and can accommodate 140 people.
The 2018-built Gunnlod jackup rig is of PPL Pacific Class 400 design and was built by PPL Shipyard, a subsidiary of Singaporean offshore giant Seatrium (formerly Sembcorp Marine). It can drill to a maximum depth of 30,000 feet, can operate in water depths of 400 feet and can accommodate 150 people.
By now, Borr Drilling has entered into multiple charter agreements for its drilling fleet. The company has entered into multiple contracts in the North Sea, with a backlog totaling 250 days beginning in March 2024, and has been awarded a single well contract in the Southeast Asian waters with an expected duration of 90 days to begin in May 2024. In addition, the company has been granted a firm and binding letter of award, which is expected to commence between the fourth quarter of 2024 and the first quarter of 2025, with an duration of 480 days.
Meanwhile, Borr Drilling is one of the offshore drilling contractors that has received a temporary suspension of operations for one or more Saudi Aramco’s jackup rigs in the Middle East.