Borr Drilling Deal Could Lead to Mexico Contracts
Borr Drilling's acquisition of nine jack-up rigs from Singapore's PPL shipyard could provide it a competitive edge in seeking contracts off Mexico, Danske Bank analysts said. The company has successfully raised $650 million to partly finance the $1.3 billion deal with Sembcorp Marine Ltd…
Borr Drilling in USD 1.3bln Sembcorp Deal
Singapore-based Sembcorp Marine said its wholly-owned subsidiary PPL Shipyard (PPLS) has agreed to sell nine Pacific Class 400 jackup drilling rigs to Borr Drilling and its subsidiaries for a total of US$1.3 billion. It will also be entitled to a market-based fee, based on an uplift in value of the rigs sold.