The Hamilton, Bermuda headquartered and New York plus Oslo-listed offshore shallow-water drilling contractor Borr Drilling Limited (Borr) has announced new signed contracts for two of its premium jack-up rigs.
One of the contracts is for the rig Ran which has received a one-well extension with ENI in Mexico with an anticipated duration of 75 days, and thereby keeping the rig on firm contract through March 2026. Borr informs that the remaining options under the contract allow for 240 days of extension beyond the end of the new committed term.
The second contract is for the rig Odin which has secured a contract for two wells plus an optional well with an undisclosed operator in the United States of America. This drilling campaign is expected to commence mid-2026, with an estimated duration of 60 days per well.
Borr states that as a result of the Odin’s new firm contract commitment, an option mechanism in the rig’s previously announced contract for work in the Gulf of America has been activated that provides the customer Cantium with six months of optional period commencing in January 2027.
