Fossil Energy – Borr Drilling – Latin America
Borr Drilling received a new Letter of Award (LOA) for its Ran premium jack-drilling rig.
The contract is for work in Latin America with an undisclosed customer.
The award covers two wells campaigns with an estimated duration of 200 days on a dry-hole case and up to 460 days on a success case.
The contract value is estimated at $30.4 million on a dry-hole case, including mobilization and demobilization fees.
The Ran is currently on a contract with Wintershall in Mexico, where the rig will remain committed until Q2 2023.