Fossil Energy – Termination
Borr Drilling announced Friday it has terminated two drilling contracts in Mexico following the implementation of international sanctions affecting an unnamed counterparty.
According to InvestingPro data, Borr maintains a GOOD financial health score despite operating in a volatile market environment.
The terminated contracts involve the company’s Odin and Hild rigs, which had firm commitments until November 2025 and March 2026, respectively, according to a company press release.
The offshore drilling contractor did not disclose details about which sanctions prompted the terminations or identify the affected counterparty in Mexico.
“The Company remains fully committed to adhering to all relevant international laws and sanctions frameworks and to maintaining the highest standards of corporate governance and compliance,” Borr Drilling stated in its announcement.
