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/
The Norwegian Petroleum Directorate (NPD) has conducted a mapping of gas resources that, for various reasons, have yet to be developed. Several of these discoveries could be produced in a manner that is profitable from a socio-economic perspective.
With an overview of the upstream oil and gas sector in the MENA region from Frost & Sullivan, followed by a discussion from Baker Hughes on the past and present of dynamic reservoir simulation. Plus technical articles on downhole tools, well control, water technology and more.