The acquired assets comprise two Friede & Goldman JU-2000E rigs, named Oberon and Titania FE, alongside three LeTourneau Super 116-C models: Courageous, Defender, and Intrepid. All five rigs are already stationed in Mexico, allowing for immediate integration into the company's existing operations. Financing for the purchase was structured through a $237 million non-recourse seller's credit, maturing in January 2029, and a combined $50 million cash contribution from Borr Drilling and its local partner. By securing this portfolio, the Bermuda-based contractor aims to capture rising international demand for energy services while leveraging the established infrastructure of the Mexican offshore sector.
Borr Drilling Expands Mexican Fleet in $287 Million Acquisition
Borr Drilling has finalized the acquisition of five premium jack-up rigs for $287 million through BC Ventures, a new 50/50 joint venture with its long-term Mexican partner. The deal bolsters the company’s fleet to 34 units, cementing its footprint in the region’s high-demand shallow-water oil and gas market.
When reusing this material a link to Money Talk is required.
Comments (0)
No comments yet. Be the first!