Borr Drilling Enhances Fleet with Strategic Acquisition of Five Jack-Up Rigs
Borr Drilling Enhances Fleet with Strategic Acquisition of Five Jack-Up Rigs
Borr Drilling Limited, a prominent name in the offshore drilling sector, has made headlines with the completion of its acquisition of five premium jack-up rigs from Noble Corporation. This $360 million deal marks a significant milestone for the company, raising its fleet count to a remarkable 29 rigs. The latest addition not only broadens Borr Drilling's operational capacity but also solidifies its market position as a leading owner of high-quality jack-up rigs.
Expanding Operational Footprint
With this strategic acquisition, Borr Drilling has effectively reinforced its ability to cater to a diverse clientele across major offshore basins. The company's CEO, Bruno Morand, expressed satisfaction with the expansion, particularly given the advantageous timing in the current market cycle. The newly acquired rigs are anticipated to seamlessly integrate with the existing fleet, providing optimal capacity for immediate opportunities.
Having the youngest fleet in the industry, Borr Drilling's innovative approach to operational excellence is a major differentiator. Morand states, "The operational strategy, customer focus, and superior rig designs remain our competitive edges. This expansion will enhance our client relationships and offer long-term benefits to shareholders."
New Names for the Rigs
In conjunction with the acquisition, the rigs will be renamed to reflect Borr's brand and identity. The legacy names and their new counterparts are as follows:
- - Noble Regina Allen becomes Sif
- - Noble Tom Prosser becomes Freyja
- - Noble Mick O'Brien becomes Forseti
- - Noble Resolute becomes Bestla
- - Noble Resilient becomes Joro
These renaming efforts not only represent a new chapter for these rigs but also emphasize their new alignment under Borr's operational philosophy.
About Borr Drilling
Founded in 2016 and registered in Bermuda, Borr Drilling Limited has swiftly risen to become a key player in the international drilling contractor landscape. With its shares listed on the New York Stock Exchange since 2019 and on Euronext Growth Oslo since December 2025, Borr has consistently focused on the shallow-water segment of the offshore oil and gas industry. The company prides itself on owning and operating jack-up rigs characterized by modern designs and high specifications. Interested readers can explore more about Borr Drilling and its offerings at Borr Drilling's official website.
Forward-Looking Statements
This announcement contains forward-looking statements under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements regarding market conditions, rig suitability, and potential value creation are subject to risks and uncertainties that may lead actual results to differ significantly from expectations. Borr Drilling remains committed to transparency and will continue to provide updates as necessary.
For any inquiries regarding this acquisition or other matters, please contact Magnus Vaaler, CFO, at +44 1224 289208.
This acquisition underscores Borr Drilling's commitment to growth and operational efficiency in the competitive offshore drilling landscape.
Topics Energy）
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