Borr Drilling forms 50/50 joint venture to buy five jack-up rigs for USD 287 million

Reuters03-24

Borr Drilling forms 50/50 joint venture to buy five jack-up rigs for USD 287 million

Borr Drilling agreed to acquire five premium jack-up rigs from Fontis Finance through BC Ventures, a newly established 50/50 joint venture with its well construction partner in Mexico.
The transaction has a purchase price of USD 287 million and is expected to close within Q3 2026.
Financing is expected to include a USD 237 million non-recourse seller’s credit plus USD 25 million in cash from Borr Drilling and USD 25 million from its partner at closing.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Borr Drilling Ltd. published the original content used to generate this news brief via Cision (Ref. ID: 20260323:BIT:9301:0) on March 23, 2026, and is solely responsible for the information contained therein.

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