Offshore jackup rig player Borr Drilling has announced in its fleet status report that it has secured new contracts for two of its rigs.
The 2013-built jackup Sif was awarded a letter of award from an undisclosed operator in Suriname. The work will start in July and end in October 2026.
Splash has previously reported that the 2019-built rig Thor was awarded a binding letter of award from an undisclosed operator in Vietnam.
The two-well campaign is estimated to last 100 days, commencing in July 2026 and ending in October, in direct continuation of its current commitment. The operator has been identified as PVEP-Cuulong.
However, that is not the only contract awarded to the rig. A contract from October 2026 until March 2027 was awarded by an undisclosed operator.
The rig is currently working for the Hoang Long – Hoan Vu Joint Operating Company in Vietnam. The contract with the company is set to end in June 2026.
Not all the news was positive, though. The start of the contract awarded to Odin by Cantium in the US Gulf of Mexico was delayed to June 2026. The rig is expected to wrap up work in December.
The 2013-built Forseti, hired by Noble Corp under a bareboat charter, was released from its contract with QatarEnergy LNG in May 2026. The rig remains under contract with Noble until December 2026.
The damage done to Qatari LNG facilities during the Middle East conflict is expected to hinder exports from those facilities for the next 3-5 years and potentially reduce the country’s rig needs.
“Since our last earnings report, we have secured eight contract commitments, representing over 1,100 days of additional firm work. Our full-year 2026 contract coverage increased to 71% at an average dayrate of approximately $137,000, and coverage in the second half of the year now stands at 65%, as compared to 48% in our prior earnings report,” said Bruno Morand, CEO of Borr Drilling.
The other contracts mentioned by Morand were previously covered by Splash and involve the Joro, Ran, Skald, Thor, and Prospector 5. The company has more than 2,250 days in backlog, representing $1.08bn.
As of the fleet status report date, the Borr fleet comprises 29 modern jackups, all built after 2008. 24 of the 29 rigs are either contracted or committed – five in Southeast Asia, four in the Middle East and North Africa, five in West Africa, three in Europe, and seven in the Americas.
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