OSLO, Norway, Nov. 1, 2019 /PRNewswire/ -- Borr Drilling
Limited (NYSE: BORR, OSE: BDRILL) (the "Company") has issued an
updated fleet status report, available on the Company's website and
attached to this release. The report includes news about five new
contracts and extensions since the previous fleet status report in
August 2019, comprising two
newbuilds, one warm stacked rig and extensions of two active rigs.
This is expected to add approximately 55 months and approximately
USD 151 million of additional backlog
revenue since the previous fleet status report in August 2019. In addition, the previously reported
LOA for Prospector 1 has been converted into a firm contract.
Two of the announced contracts are with Pemex and will be based
on the same integrated services structure that of the three other
rigs the Company has contracted with Pemex.
With the activations of two additional newbuild units and the
reactivation of a warm stacked unit, the Company has increased the
number of contracted and committed rigs to 18. In addition, the
company has commenced activation of an additional newbuild rig from
Keppel as result of advanced negotiations for a contract with
expected start-up in January
2020.
1 November 2019
Hamilton, Bermuda
Website: www.borrdrilling.com
Forward looking statements
This announcement includes forward looking statements. Forward
looking statements are, typically, statements that do not reflect
historical facts and may be identified by words such as
"anticipate", "continue", "expect", "should", "will" and similar
expressions and include expectations regarding contract backlog and
contract terms, contract duration and operation of our jack-up
rigs. The forward-looking statements in this announcement are based
upon various assumptions, many of which are based, in turn, upon
further assumptions. Although Borr Drilling Limited believes that
these assumptions are reasonable, they are, by their nature,
uncertain and subject to significant known and unknown risks,
contingencies and other factors which are difficult or impossible
to predict and which are beyond our control. Such risks,
uncertainties, contingencies and other factors could cause actual
events to differ materially from the expectations expressed or
implied by the forward-looking statements included herein. In
addition to the important factors and matters discussed elsewhere
in this report, important factors that, in our view could cause
actual results to differ materially from those discussed in the
forward looking statements are included in our most recent annual
report.
The information, opinions and forward-looking statements
contained in this announcement speak only as of the date hereof and
are subject to change without notice.
This information was brought to you by Cision
http://news.cision.com
https://news.cision.com/borr-drilling-limited/r/borr-drilling-limited-reports-new-contracts-in-november-2019-fleet-status-report,c2951494
The following files are available for download:
https://mb.cision.com/Public/16983/2951494/b8a5635dabbe2e51.pdf
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Borr Drilling - Fleet
Availability -November 2019
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SOURCE Borr Drilling Limited