Borr Drilling Limited (the “Company”) (NYSE: BORR), (OSE: BDRILL), jack up drilling contractor, has recently released its fleet reports.
The Oslo-listed company said on Monday it has signed contracts (from LOA) with PTTEP for the its two rig, the Saga and the Gunnlod rigs, which both for deployment in Malaysia while ROC Oil have rescinded previously announced notices of early termination for three of Borr Drilling’s rigs.
Borr Drilling’s fleet status report shows that Saga, which had a contract with Eni in Vietnam till July, is scheduled to start with PTTEP in September 2020 for one-year contract.
Another jack up, the Gunnlod, currently stacked in Singapore, will soon mobilize to Malaysia and its contract is expected to begin in September 2020 and will run till March 2021.
Borr Drilling also announced that ROC Oil rescinded previously announced Notice of Termination for the Mist jack-up and replaced it with Suspension Notice. The rig is scheduled to start its ROC Oil contract around Sep 2020 – Oct 2020 in Malaysia and will run till March 2021.
“The recent awards will bring the total number of committed and contracted rigs up to 14. The tender activity in the jack-up market troughed in March / April this year caused by the negative development in the oil price. There are now clear signs of increased activity levels, supported by an oil price of around USD 40/bblm” Borr Drilling said.
The updated Fleet Status Report can be found here
