HAMILTON, Bermuda, Aug. 4, 2022
/PRNewswire/ -- Borr Drilling Limited (NYSE: BORR) (OSE: BORR) is
pleased to announce it has received a binding Letter of Intent
("LOI") for the premium jack-up drilling rig "Prospector 5" from an
undisclosed operator in West
Africa. The 6-well firm program is expected to commence
during Q4 2022 and has an estimated duration of
fourteen months plus options. This LOI, which is expected to
be converted into a contract shortly, has an estimated total
contract value of $68.9 million
(excluding options).
Forward looking statements
This press release includes forward looking statements, which do
not reflect historical facts and may be identified by words such as
"expect", "estimated" and similar expressions and include
statements relating to rig contracting and options including the
duration of such contracts and extensions and backlog, and other
non-historical statements. Such forward -looking statements are
subject to risks, uncertainties, contingencies and other factors
could cause actual events to differ materially from the
expectations expressed or implied by the forward-looking statements
included herein, including risks related to actual performance
under drilling contracts, the risk that backlog may not be
realized, the number of rigs that will be in operation and rates
that are achieved, and other risks and uncertainties described in
the section entitled "Risk Factors" in our most recent annual
report on Form 20-F and other filings with the Securities and
Exchange Commission. Such risks, uncertainties, contingencies and
other factors could cause actual events to differ materially from
the expectations expressed or implied by the forward -looking
statements included herein. These forward-looking statements are
made only as of the date of this release. We do not undertake to
update or revise the forward-looking statements, whether as a
result of new information, future events or otherwise.
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SOURCE Borr Drilling Limited