Borr Drilling Announces Jack-up LOI

OE staff
Thursday, August 4, 2022

Offshore drilling contractor Borr Drilling on Thursday announced it has received a binding letter of intent (LOI) for one of its jack-up drilling rigs from an undisclosed operator in West Africa.

Under the deal, Borr's Prospector 5 will drill a six-well firm program expected to commence during the fourth quarter of 2022. The program is expected to last 14 months, plus options.

This LOI, which Borr said is expected to be converted into a contract shortly, has an estimated total contract value of $68.9 million, excluding options.

Prospector 5 is a Friede & Goldman JU2000E design rig built by Shanghai Waigaoqiao Shipbuilding in 2014. It is designed and outfitted to operate in water depths up to 400 feet and can drill to depths of 35,000 feet.

Categories: Drilling Activity Rigs Africa

Related Stories

Aker BP Bites Dust in North Sea

OP/ED: When it Comes to Offshore Energy, Be Careful What You Wish For

Norway Greenlights DNO’s North Sea Drilling Campaign

Current News

SouthCoast Wind gets final BOEM nod

Oil set for fourth week of gains on US sanctions

Rex Subsidiary Lime Petroleum AS Awarded New License in Norway

SLB Profits Top Analyst Expectations

Subscribe for OE Digital E‑News