Borr Drilling Limited - Fleet Status Report

OSLO,Norway, Aug. 3, 2020 /PRNewswire/ -- Borr Drilling Limited (the "Company") (NYSE: BORR), (OSE: BDRILL) is pleased to announce in its fleet status report today that it has entered into a new contract and LOIs for three of its currently warm stacked rigs, adding USD 21 million to the total backlog, with good prospects for additional backlog on these units. 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/bbl.

Borr has currently three additional warm stacked rigs which can be brought into operation without significant activation capex.

The updated Fleet Status Report can be found on the Company's website and attached to this release.

August 3, 2020
Hamilton, Bermuda

Contact:
Magnus Vaaler
VP Investor Relations and Treasury
[phone]

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/borr-drilling-limited/r/borr-drilling-limited---fleet-status-report,c3163144

The following files are available for download:

https://mb.cision.com/Public/16983/3163144/95ae9ab4e87707cc.pdf

Fleet Status Report - August 2020

 

View original content:http://www.prnewswire.com/news-releases/borr-drilling-limited---fleet-status-report-301104511.html

SOURCE Borr Drilling Limited

Copyright 2020 PR Newswire