Borr Drilling Limited – Announcement of Letter of Award
Borr Drilling Limited is pleased to announce that its premium jack-up drilling rig “Ran” has received a Letter of Award (“LOA”) from an undisclosed customer for work in Latin America. This award will cover a two wells campaign with an estimated duration of 200 days on a dry-hole case and up to 460 days on a success case. The work will commence in October 2023 and has an estimated contract value, including mobilization and demobilization fees, of USD $30.4 million on a dry-hole case. The Ran is currently on a contract with Wintershall in Mexico which is expected to keep the rig committed