Borr Drilling has sold two standard jack-up drilling rigs, the Dhabi II and the Paragon B152, for total cash proceeds of US$15.8 million, including the associated backlog effective from 1 April 2020.
The company will continue to operate the rigs under a services agreement . The rigs are unencumbered, and the liquidity effect for the company is equal to the sales proceeds. The company expects to record a gain of approximately US$11.5 million.
Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/01052020/borr-drilling-sells-two-jack-up-rigs/