Borr Drilling Ltd.
Borr Drilling Ltd.
05/18/2022 | Press release | Distributed by Public on 05/17/2022 23:09
Borr Drilling Limited - Announcement of LOA for jack-up drilling rig
Tid18.05.2022, 05:00:16
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Borr Drilling Limited - Announcement of LOA for jack-up drilling rig
Borr Drilling Limited (the "Company") (NYSE and OSE: "BORR") is pleased to
announce it has secured a binding Letter of Award ("LOA") for the premium jack
-up drilling rig "Saga" from an undisclosed operator in Southeast Asia. The
program is expected to commence in Q4 2022, in direct continuation of the
current contract, for a duration of four years plus options.
The company has after this a contracted fleet of 20 rigs out of a total of 23
delivered rigs.
Hamilton, Bermuda
18 May 2022
Forward looking statements
This press release includes forward looking statements, which do not reflect
historical facts and may be identified by words such as "expect", "will" and
similar expressions and include statements relating to rig contracting and
extensions and exercises of options including the duration of such contracts and
extensions and backlog, and other non-historical statements. Such forward
-looking statements are subject to risks, uncertainties, contingencies and other
factors could cause actual events to differ materially from the expectations
expressed or implied by the forward-looking statements included herein,
including risks related to actual performance under drilling contracts, the risk
that backlog may not be realized, the number of rigs that will be in operation
and rates that are achieved, and other risks and uncertainties described in the
section entitled "Risk Factors" in our most recent annual report on Form 20-F
and other filings with the Securities and Exchange Commission. Such risks,
uncertainties, contingencies and other factors could cause actual events to
differ materially from the expectations expressed or implied by the forward
-looking statements included herein. These forward-looking statements are made
only as of the date of this release. We do not undertake to update or revise the
forward-looking statements, whether as a result of new information, future
events or otherwise.
Questions should be directed to: Magnus Vaaler, CFO, +44 1224 289208
announce it has secured a binding Letter of Award ("LOA") for the premium jack
-up drilling rig "Saga" from an undisclosed operator in Southeast Asia. The
program is expected to commence in Q4 2022, in direct continuation of the
current contract, for a duration of four years plus options.
The company has after this a contracted fleet of 20 rigs out of a total of 23
delivered rigs.
Hamilton, Bermuda
18 May 2022
Forward looking statements
This press release includes forward looking statements, which do not reflect
historical facts and may be identified by words such as "expect", "will" and
similar expressions and include statements relating to rig contracting and
extensions and exercises of options including the duration of such contracts and
extensions and backlog, and other non-historical statements. Such forward
-looking statements are subject to risks, uncertainties, contingencies and other
factors could cause actual events to differ materially from the expectations
expressed or implied by the forward-looking statements included herein,
including risks related to actual performance under drilling contracts, the risk
that backlog may not be realized, the number of rigs that will be in operation
and rates that are achieved, and other risks and uncertainties described in the
section entitled "Risk Factors" in our most recent annual report on Form 20-F
and other filings with the Securities and Exchange Commission. Such risks,
uncertainties, contingencies and other factors could cause actual events to
differ materially from the expectations expressed or implied by the forward
-looking statements included herein. These forward-looking statements are made
only as of the date of this release. We do not undertake to update or revise the
forward-looking statements, whether as a result of new information, future
events or otherwise.
Questions should be directed to: Magnus Vaaler, CFO, +44 1224 289208