Borr Drilling’s hat trick: North Sea duo for one jack-up and West African job for another rig

August 27, 2025, by Melisa Cavcic

Borr Drilling, an offshore drilling player, has secured three multimillion-dollar deals for two jack-up rigs in Europe and West Africa.

Borr Drilling’s Prospector 1 rig; Source: Neptune Energy, part of Eni

While shedding light on the contracting state of play across its jack-up fleet, the rig owner confirmed the conversion of the previously announced letter of award (LoA) for the Odin rig in Mexico into a contract, which enabled the rig to begin operations.

The offshore drilling player also disclosed new commitments for two premium jack-up rigs, covering a combined duration of 300 days and representing more than $43 million in contract revenue backlog, excluding options, mobilization, and demobilization compensation.

Thanks to separate binding letters of award, the 12-year-old Prospector 1 rig has secured assignments in the North Sea with Dana Petroleum and ONE-Dyas in the Netherlands. The job with Dana Petroleum is for one well, with an anticipated duration of 30 days, scheduled to begin in November 2025.

On the other hand, ONE-Dyas’ commitment covers three wells, with an anticipated duration of 210 days, which is expected to start in December 2025, in direct continuation of the previous contract. This award includes options that may extend the work for an additional 210 days.

The 2013-built Prospector 1 jack-up rig, constructed at Dalian Shipbuilding Industry Offshore in China, is of Friede & Goldman JU2000E design. With a maximum drilling depth of 35,000 feet and a water depth of 400 feet, the rig can accommodate 140 people.

Borr Drilling has also landed a contract for the Natt rig with New Age in Congo, West Africa. The firm scope of one well has an anticipated duration of 60 days, scheduled to commence in November 2025.

The 2018-built Natt rig is of PPL Pacific Class 400 design and can accommodate 150 people. With a maximum drilling capacity of 30,000 feet, the rig can operate in water depths of up to 400 feet.

These assignments follow the rig owner’s jobs for four jack-up rigs in the Middle East, Southeast Asia, and North America.