Borr Drilling Secures Four Rig Contracts Including 320-Day Gabon Award
Borr Drilling secured a binding LOA for Prospector 5 covering 4 wells over 320 days with a 220-day option and extended Ran by 6 months through September 2026 in Mexico. Joro was extended by 2 months through May 2026 and Thor secured a 100-day, 2-well contract starting July 2026 in Vietnam.
1. Prospector 5 Secures LOA in Gabon
Prospector 5 has received a binding letter of award from BW Energy in Gabon covering a firm scope of four wells over 320 days, with an additional 220-day extension option. The contract is slated to begin in Q3 2026 following the rig’s scheduled special periodic survey.
2. Ran and Joro Rig Extensions
The Ran jack-up rig was awarded a six-month extension by ENI in Mexico, keeping it fully committed through September 2026 for drilling and accommodation duties. Meanwhile, the Joro rig’s current operator extended its contract by approximately two months, securing work through May 2026.
3. Thor Books Two-Well Campaign in Vietnam
In Southeast Asia, the Thor rig secured a binding two-well campaign in Vietnam with an estimated 100-day duration. This program will commence in July 2026 in direct continuation of the rig’s existing commitment.