Fossil Energy – Drilling
Borr Drilling received a binding Letter of Intent (LoI) for the premium jack-up drilling rig Prospector 5 from an undisclosed operator in West Africa.
The 6-well firm program is expected to commence during Q4 2022 and has an estimated duration of fourteen months plus options.
This LoI, which is expected to be converted into a contract shortly, has an estimated total contract value of $68.9 million (excluding options).
