HAMILTON, Bermuda, Dec. 9, 2024
/PRNewswire/ -- Borr Drilling Limited (NYSE: BORR) (OSE: BORR)
is pleased to announce a new contract commitment for its premium
jack-up rig "Norve" with a repeat customer in West Africa. This work is in direct
continuation of the Marathon Oil contract and is estimated to
commence in Q3 2025. The contract is for five wells firm, with an
anticipated duration of 320 days, plus up to five optional wells at
mutually agreed prices. This commitment adds an additional
$58 million in contract revenue
backlog, excluding options, mobilization and demobilization
compensation.
Forward looking statements
This press release includes forward looking statements, which do
not reflect historical facts and may be identified by words such as
"will", "expect", "estimate" and similar expressions and include
statements relating to contract awards, letter of awards, contract
duration and value and expected start and end dates, and other
non-historical statements. Such forward looking statements are
subject to risks, uncertainties, contingencies and other factors
could cause actual events to differ materially from the
expectations expressed or implied by the forward-looking statements
included herein, including risks related to contracting, including
start dates of such contracts, actual performance under drilling
contracts, the risk that backlog may not be realized, and other
risks and uncertainties described in the section entitled "Risk
Factors" in our most recent annual report on Form 20-F and other
filings with the Securities and Exchange Commission. Such risks,
uncertainties, contingencies and other factors could cause actual
events to differ materially from the expectations expressed or
implied by the forward -looking statements included herein. These
forward -looking statements are made only as of the date of this
release. We do not undertake to update or revise the
forward-looking statements, whether as a result of new information,
future events or otherwise.
CONTACT:
Questions should be directed to: Magnus
Vaaler, CFO, +44 1224 289208
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SOURCE Borr Drilling Limited
