Borr Drilling provided operational updates on Middle East rig resumptions, new Southeast Asia contract award, and reported 70% contract coverage for full-year 2026 at $134,000 average dayrate.
Key takeaways
Arabia III resumed operations offshore Saudi Arabia in late March 2026.
Groa in Qatar and Arabia II in UAE expected to recommence in April 2026.
Odin rig to commence contract with Cantium in Gulf of America in April 2026 after maintenance delays.
Skald received six-month contract award in Southeast Asia starting Q2 2026.
Full-year 2026 contract coverage at 70% with $134,000 average dayrate; H1 78%, H2 62%.
CEO notes elevated commodity prices expected to accelerate rig activity.