Borr Drilling joint venture BC Ventures completes USD 287 million acquisition of five jack-up rigs in Mexico
BORR•BC Ventures completes acquisition of five jack-up rigs
Borr Drilling entered a 50/50 joint venture, BC Ventures, with its long-term well construction partner in Mexico.
The venture completed the acquisition of five premium jack-up rigs from Fontis Finance for USD 287 million.
Funding included a USD 237 million non-recourse seller’s credit maturing January 2029, secured by a first-priority lien on the rigs.
Each partner contributed USD 25 million in cash, taking the combined owned and jointly owned fleet to 34 rigs.
The deal expands exposure to Mexico’s shallow-water market, targeting rising demand for secure energy supply.
