Borr Drilling sells two jack-up rigs

Published by Nicholas Woodroof, Editor
Oilfield Technology, Friday, 01 May 2020 11:00

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/

NSTA’S Energy Pathfinder highlights business opportunities in the North Sea

Tuesday 07 February 2023 09:19

Initially launched as an oil and gas portal in 2010, Pathfinder has been regularly updated to meet changing needs and now features projects including well decommissioning campaigns, offshore wind and carbon capture and storage opportunities.

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Upstream news Offshore news Oil rig news Upstream drilling news Oil & gas news

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