Tor Olav Troim’s Borr Drilling has signed a deal to acquire newbuild jackup rig Hull No. B378 from Japan’s BOT Lease Co. for $122m
The rig was originally named Hakuryu-15 and was ordered by BOT Lease Co. for Japan Drilling Company at a price of $240m.
Borr Drilling described the acquisition as an opportunistic deal, and is not part of plans to significantly increase its fleet of jackup rigs.
“With a largely homogenous fleet of 30 premium jack-up drilling rigs, the Company has established a foundation which provides strong cost and operating benefits compared to our competitors. Borr’s focus on premium jack-up drilling rigs has made it possible to achieve the strong growth witnessed from 2018, keeping technical utilisation above 99% and keeping an industry leading safety standard,” the company said in a statement.
The acquisition has been financed via a new secured financing facility arranged by two Nordic banks.
