Borr drilling limited reports new contracts in november 2019 fleet status report

Borr drilling limited has issued an updated fleet status report. the report includes news about five new contracts and extensions since the previous fleet status report in august 2019, comprising two newbuilds, one warm stacked rig and extensions of two active rigs. this is expected to add approximately 55 months and approximately usd 151 million of additional backlog revenue since the previous fleet status report in august 2019. in addition, the previously reported loa for prospector 1 has been converted into a firm contract. two of the announced contracts are with pemex and will be based on the same integrated services structure that of the three other rigs the company has contracted with pemex. with the activations of two additional newbuild units and the reactivation of a warm stacked unit, the company has increased the number of contracted and committed rigs to 18. in addition, the company has commenced activation of an additional newbuild rig from keppel as result of advanced negotiations for a contract with expected start-up in january 2020.
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