Borr Drilling offloads pair of jackup rigs

Borr Drilling offloads pair of jackup rigs

Offshore driller Borr Drilling has sold a pair of jackup rigs for a total of $15.8m.

The rigs offloaded are the 1981-built Dhabi II and the 1982-built Paragon B152, and Borr says it will continue to operate the rigs under a services agreement.

Borr expects to record a gain of $11.5m on the sale, which is part of its strategy to focus on the operation of its core fleet of modern jackups.

Earlier this year, Borr Drilling chairman Paal Kibsgaard signalled the company’s intention to sell some of its rigs to improve its cash position after a challenging 2019.

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.

Related Posts