Borr Drilling said in its new fleet status report that it had added $35.1 million over 480 days to its total backlog.
The firm said it was encouraged about the increased activity in the shallow water jack-up drilling market.
A letter of intent (LOI) for the Norve rig, currently warm stacked, has been converted into a contact for two wells plus one option with BW Energy.
Operations in Gabon should get under way in April 2021.
In Asia, the Idun has been awarded an LOA to commence operations in the first quarter of 2021, increasing the number of active rigs for the Company in Asia to a total of four.
The contract’s estimated duration, excluding options, is for a period up to 12 months.
Borr also announced a contract amendment on Prospector 1 with existing customer One Dyas for three optional wells, of which one has already been exercised.
In addition, Prospector 1 has received an LOI from an unspecified operator for four wells plus options for operations in the North Sea, which has an estimated period of seven months.
The recent awards will bring the total number of committed and contracted rigs up to 13.
Borr has four additional warm stacked rigs that can be brought into operation without significant activation capex.
Furthermore, Borr is negotiating terms with Pemex for an extension to the current contract covering five rigs contracted under the Integrated Well Services business model, with an aim to secure incremental work throughout 2021 in Mexico.
However Borr stressed it was important for the working capital situation in Mexico to improve — a key point in the negotiations on further work.
