Fossil Energy – Drilling
Borr Drilling’s Hild premium jack-up rig 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 start in third-quarter 2023, following the conclusion of the rig’s ongoing activation. The estimated contract value is $123 million, 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 third-quarter 2023.
Amid an improving market, the company said it remains optimistic about recontracting opportunities for its premium fleet.