Borr Drilling to acquire five jack-up rigs from Paratus for $287m [Yahoo! Finance]
Borr Drilling Limited Common Shares (BORR)
Company Research
Source: Yahoo! Finance
This acquisition will be conducted via BC Ventures, a new 50:50 joint venture (JV) incorporated between subsidiaries of Borr Drilling and Proyectos Globales de Energía y Servicios CME (CME), Borr's longstanding well construction partner in Mexico. The JV will acquire ownership of two Friede & Goldman JU-2000E design rigs and three LeTourneau Super 116-C design rigs, which are all currently situated in Mexico. The transaction is structured as two interdependent deals, one of them being CME's acquisition of Fontis' Mexican operations for cash. The second deal will see CME and Borr acquire Fontis' Singapore-based rig-owning entities. The transaction's financing will involve a $237m non-recourse seller's credit, supplemented by a $25m cash contribution from both Borr Drilling and its local partner at closing. The seller's credit will mature 2.5 years after closing and will be secured with a first lien on the five jack-up rigs, among other securities. Completion of the transacti
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BORR
News
- Borr Drilling forms Mexico JV to acquire five rigs for $287M [Seeking Alpha]Seeking Alpha
- Borr Drilling Limited - Acquisition of Five Premium Jack-Up Rigs through New Joint Venture [Yahoo! Finance]Yahoo! Finance
- Paratus Energy Services Ltd. Announces Sale of its Jack-up Business [Yahoo! Finance]Yahoo! Finance
- Borr Drilling Limited - Acquisition of Five Premium Jack-Up Rigs through New Joint VenturePR Newswire
- SEB Equities Downgrades Borr Drilling Limited (BORR) to Hold from Buy with a $5.45 Price Target [Yahoo! Finance]Yahoo! Finance
BORR
Sec Filings
- 3/24/26 - Form 6-K
- 3/18/26 - Form 3
- 3/18/26 - Form 3
- BORR's page on the SEC website