Borr Drilling has received a binding letter of intent (LOI) for the premium Prospector 5 jackup drilling rig from an undisclosed operator in West Africa.
HAMILTON, Bermuda— Borr Drilling Ltd. has received a binding letter of intent (LOI) for the premium Prospector 5 jackup drilling rig from an undisclosed operator in West Africa.
The six-well firm program is expected to commence during fourth-quarter 2022 and has an estimated duration of 14 months plus options. This LOI, which is expected to be converted into a contract shortly, has an estimated total contract value of $68.9 million (excluding options).
