Borr Drilling acquires five Keppel FELS jack-up vessels

Borr Drilling has ordered five jack-up newbuildings from Singapore-based Keppel FELS for US$745 million.

Chief Executive Svend Anton Maier said two of the five rigs were originally built for Grupo R (for the Cantarell V and Paraiso II rigs) and one for Falcon Energy Group.

The other two rigs were being built in anticipation of demand.

Borr Drilling will take delivery of the first rig in the fourth quarter of 2019. The remaining rigs will be delivered quarterly until the last rig is delivered in the fourth quarter of 2020.

The acquisition will increase the Borr Drilling fleet to a total of 29 premium jack-up rigs – 27 built after 2011 – once the rigs are delivered.