5 diciembre, 2022

Borr Drilling Limited – New 3-year contracts for 5 jack-up drilling rigs in Mexico

THE BAJA POST
NEWSROOM
SOURCE: PR MEDIA

Borr Drilling Limited (NYSE and OSE: «BORR») is pleased to announce that its joint venture company in Mexico (Perfomex) has entered into new contracts for the Company’s five premium jack-up rigs «Galar», «Gersemi», «Grid», «Njord» and «Odin» with OPEX Perforadora S.A. de C.V. and Perforadora Profesional Akal I S.A. de C.V, providers of integrated well services to Pemex. 

The contracts are effective from October 20, 2022 and will maintain all five rigs contracted until December 31, 2025 for a combined contract value of $715 million, including upfront cash payments of $33 million in total. Further, these agreements incorporate enhanced terms that are expected to improve the economic efficiency of the business. 

Borr Drilling Limited provides the five rigs on a bareboat basis to the joint ventures with bareboat earnings equivalent to residual cash from the day-rate earnings less payments of operating expenses and other fees in the joint ventur

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