Borr Drilling offloads another jackup rig

Norwegian offshore driller Borr Drilling has sealed a deal to sell its 2003-built jackup rig Atla to an independent operator.

The sale of the rig, which is currently cold stacked, is expected to be completed within the fourth quarter.

Borr Drilling said the sale, along with the previously announced sale of its Eir jackup rig, will raise a total of around $13m.

Following the completion of the sale, Borr Drilling will be down to 28 rigs in total including one which is cold stacked and expected to be sold this year.

The company has been reducing its fleet since February, when it announced plans to raise cash by selling rigs. Since then, it has completed a financial restructuring and also appointed a new CEO.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.
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