Bermuda’s Borr Drilling acquires jack up rig newbuilding for $122 mln

Bermuda-based drilling contractor Borr Drilling has acquired the Hull No. B378, a jack-up rig newbuilding, for $122 million from Japanese property leasing services company BOT Lease Co.

Hull B378, a Keppel FELS Ltd. Super B Bigfoot design, will need around six months to be operationally ready from the yard.

The acquired rig has 997,903 kilograms hook load capacity, 75 feet cantilever and significant crane capacity which makes the unit ideal for drilling of deep high-pressure high-temperature wells.

The deal has been fully funded through an expedited establishment of a new secured financing facility arranged by two Nordic banks. The rig is well positioned for contractual work at attractive rates.