HAMILTON, Bermuda, April 9,
2024 /PRNewswire/ -- Borr Drilling Limited (the
"Company") (NYSE: BORR) (OSE: BORR) is pleased to announce new
contract commitments for three of its premium jack-up
rigs, the "Prospector 1", the "Gunnlod", and a rig
to be determined. The commitments total 820 days
and $158.6 million in contract
revenue, inclusive of mobilization and demobilization
compensation.
In the North Sea, multiple contracts have been secured
totaling 250 days of backlog that commenced in
March 2024.
In Southeast Asia, the Company has secured a one
well commitment, with an anticipated duration of 90
days, that will commence in May
2024.
Finally, an undisclosed customer has issued a firm and binding
Letter of Award for a campaign expected to commence between Q4 2024
and Q1 2025, with an estimated duration of 480 days.
Hamilton, Bermuda
9 April 2024
Forward looking statements
This press release includes forward looking statements, which do
not reflect historical facts and may be identified by words such as
"will", "expect" , "estimate" and similar expressions and include
statements relating to contract awards, letter of awards,
contract duration and value and expected start and end dates, and
other non-historical statements. Such forward looking statements
are subject to risks, uncertainties, contingencies and other
factors could cause actual events to differ materially from the
expectations expressed or implied by the forward-looking statements
included herein, including risks related to contracting, including
our ability to convert LOAs into contracts, the final terms and
start dates of such contracts, actual performance under drilling
contracts, the risk that backlog may not be realized, and other
risks and uncertainties described in the section entitled "Risk
Factors" in our most recent annual report on Form 20-F and other
filings with the Securities and Exchange Commission. Such risks,
uncertainties, contingencies and other factors could cause actual
events to differ materially from the expectations expressed or
implied by the forward -looking statements included herein. These
forward-looking statements are made only as of the date of this
release. We do not undertake to update or revise the
forward-looking statements, whether as a result of new information,
future events or otherwise.
Contact:
Questions should be directed to:
Magnus Vaaler,
CFO, +44 1224 289208
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SOURCE Borr Drilling Limited