Offshore drilling contractor Borr Drilling has been awarded letters of award (LOA) for two premium jack-up drilling rigs, strengthening the company's firm backlog by approximately 421 days, excluding optional periods.

The first LOA is for the Gerd jack-up rig, which received a binding LOA from an undisclosed customer for work in the Middle East. The contract will cover a firm scope of 270 days and an unpriced optional scope of 60 days. The firm scope is valued at an estimated $47.7 million, including mobilization and demobilization. The Gerd rig is expected to conclude its current contract with Addax in the third quarter of 2023, after which it will undergo mobilization, statutory surveys, and recertification before commencing its new assignment in December 2023. The Gerd rig, built in 2018, operates in water depths of up to 400 ft and has a maximum drilling depth of 30,000 ft.

The second LOA was received for the Thor jack-up rig from an undisclosed customer for work in Southeast Asia. This contract will cover a firm scope of two wells with an estimated duration of 151 days and has a contract value of $25.1 million, including mobilization and demobilization. The Thor rig is expected to begin its contract in December 2023, directly continuing from its ongoing contract. The rig, built in 2019, can operate in water depths of up to 400 ft and has a maximum drilling depth of 35,000 ft.

Borr Drilling has recently announced multiple new drilling contracts and extensions for its rig fleet. The company's commitment to securing work in the Middle East and Southeast Asia reflects its continued efforts to grow its business and expand its presence in key regions