In the Gulf of America, the Odin, which initially was to begin running earlier in the year, experienced hold-ups due to extra upkeep work needed in advance of starting its agreement with Cantium. The rig is now anticipated to start operations in April 2026.
In Southeast Asia, the Skald has actually gotten a binding letter of award from a concealed operator. The project is anticipated to start in the 2nd quarter of 2026 and has actually an approximated period of 6 months.
Showing these updates and other advancements throughout the fleet because the Business’s preceding profits report on February 18, 2026, our agreement protection for full-year 2026 is 70% at a typical dayrate of around $134,000, while the protection for the very first and 2nd half of 2026 stands at 78% and 62%, respectively.
Borr Drilling CEO Bruno Morand stated, “I wish to thank our onshore and overseas groups for their efforts in securely and efficiently handling the interruptions experienced due to the geopolitical occasions in the Middle East.”
CONTACT:
Concerns must be directed to: Magnus Vaaler, CFO, +44 1224 289208
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SOURCE Borr Drilling Limited
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HAMILTON, Bermuda, April 13, 2026/ PRNewswire/– Borr Drilling Limited (NYSE and Euronext Development Oslo: BORR) (” Borr Drilling” or the “Business”) today offered functional updates on its fleet, consisting of advancements associated with the continuous circumstance in the Middle East, and revealed a brand-new agreement dedication.
With recommendation to the Business’s upgrade on March 9, 2026 about its 4 rigs released in the Middle East, the Arabia III resumed operations offshore Saudi Arabia in late March 2026. In addition, the Business has actually gotten resumptions notifications for the Groa in Qatar and the Arabia II in the UAE and anticipates these rigs to recommence operations throughout April 2026. The Business’s 4th rig in the area, the Forseti, which is run by a 3rd party under a bareboat charter, is likewise going through preparations to resume operations in Qatar.
” On the other hand, we have actually continued to perform our contracting method, protecting crucial near-term protection for our fleet, which now stands at 70% for full-year 2026. The current occasions continue to produce an environment where raised product costs and restored concentrate on energy security are anticipated to speed up rig activity. Current conversations with our consumers validate the early indications of this pattern as we observe an increased sense of seriousness in granting existing tenders and advancing specific drilling programs. Our young and broadened fleet positions us well to service our consumers as this pattern even more establishes.”
About Borr Drilling
Borr Drilling Limited is a worldwide drilling specialist integrated in Bermuda in 2016 and noted on the New York Stock Exchange because July 31, 2019 and on Euronext Development Oslo because December 19, 2025 under the ticker “BORR”. The Business owns and runs jack-up rigs of modern-day and high requirements styles and offers services concentrated on the shallow-water section to the overseas oil and gas market worldwide. Please visit our site at www.borrdrilling.com.
Positive Declarations
This news release and associated conversations consist of positive declarations made under the “safe harbor” arrangements of the U.S. Personal Securities Lawsuits Reform Act of 1995. Positive declarations do not show historic realities and might be recognized by words such as “prepare for”, “think”, “continue”, “price quote”, “anticipate”, “means”, “might”, “must”, “will”, “most likely”, “goal”, “strategy”, “assistance” and comparable expressions and consist of declarations concerning the start or recommencement of operations of rigs and anticipated timing thereof, brand-new agreement dedications, consisting of any associated agreement start and period, need for drilling rig services and anticipated velocity of rig activity, tendering activity, drilling programs, agreement protection, consisting of associated typical dayrates, and other non-historical declarations. Such positive declarations undergo threats, unpredictabilities, contingencies and other aspects that might trigger real occasions to vary materially from the expectations revealed or suggested by the positive declarations consisted of herein, consisting of threats associated with anticipated recommencement of operations of rigs and brand-new agreement dedications explained herein, consisting of any associated agreement or functional start and period, agreement protection and dayrates, the efficiency of our rigs under agreements, threats associated with the start or recommencement of operations explained herein consisting of threats associated with our capability to start or recommence such operations constant with the timeframes explained herein, the threat that tender activity and need for drilling rig services and programs do not emerge as anticipated, the threat that stockpile does not emerge as anticipated, the threat that agreements do not emerge as anticipated, threats associating with market patterns, and other threats and unpredictabilities, consisting of those explained in our yearly report on Kind 20-F for the year ended December 31, 2025 and our other filings with and submissions to the Securities and Exchange Commission. Such threats, unpredictabilities, contingencies and other aspects might trigger real occasions to vary materially from the expectations revealed or suggested by the positive declarations consisted of herein. These positive declarations are made just since the date of this release. We do not carry out to upgrade or modify the positive declarations, whether as an outcome of brand-new info, future occasions or otherwise.