With five newbuilds under construction, Oslo-listed drilling contractor Borr Drilling continued to trim its cold-stacked, older rig fleet, reaching separate agreements to sell two jack-ups to BW Energy for a total of US$14.5M
Borr sold its cold-stacked, 2003-built jack-up drilling rig Balder to BW Energy. Completion of the sale is expected in Q4 2020, and Borr Drilling will receive US$4.5M sale proceeds. This sale follows the previously announced October sale of 2003-built jack up rig Atla to BW Energy.
BW Energy plans to convert these rigs to offshore installations equipped with production facilities, meaning the rigs will cease to trade in the drilling rig market.
Previously, Borr Drilling announced the sale of standard jack -up drilling rig Eir, completed in October.
Following these rig sales, Borr Drilling has 28 offshore rigs built after 2011. It has five offshore jack-up rigs under construction at Keppel FELS. Two, Heidrun and Huldra, are KFELS Bigfoot B Class designs, and three, Tivar, Vale and Var, are KFELS Super B Bigfoot Class design. It took delivery of two other jack-up rigs, Heimdal, a KFELS B class vessel, and Hild, a KFELS Super B class design this year. Hild is capable of operating in 122 m of water and drilling to 10,668 m.
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