Borr Drilling Limited – Update on contracts and operations
Borr Drilling Limited (the “Company”) (NYSE: “BORR”, OSE: “BDRILL”) is pleased to announce that it has been awarded LOAs for work in the Asia Pacific region for two of its premium jack ups, of which one is a newbuild being activated. The contracts’ estimated duration, excluding options, will be for 365 days and 200 days respectively. The rigs are expected to commence contracts in the third quarter of 2020. The Company has received notices of early termination of contracts from Exxon Mobil for the rigs “Gerd” and “Groa” which are working in Nigeria under contracts originally committed