SDLPF - Borr Drilling - Contract Terminations Start To Hit But Impact Mitigated By New Awards

Note:

I have covered Borr Drilling (NYSE:BORR) previously, so investors should view this as an update to my earlier article on the company.

On Monday, ailing junior offshore driller Borr Drilling released an "update on contracts and operations" which shows letters of awards for two of the company's premium jackup rigs for work in the Asia Pacific region. One of the rigs is a newbuild requiring activation before achieving operational readiness. The contracts’ estimated duration, excluding options, will be for 365 days and 200 days respectively. The rigs are expected to