Borr Drilling announces new commitments for 3 rigs
Norve and Natt are expected to remain committed into August 2027, while Joro's firm work is expected to continue into December 2026.
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Form Type
6-K
Rhea-AI Filing Summary
Borr Drilling Ltd (BORR) announced new commitments for three premium jack-up rigs. In West Africa, the Norve received a binding letter of award for a firm scope of three wells, with an estimated duration of 245 days and expected commencement in mid-December 2026; the rig is expected to remain committed into August 2027. The commitment also includes priced options estimated at 175 days.
In Nigeria, Shell Nigeria Exploration and Production Company exercised the one-well option on the Natt; based on the current well program, the rig is anticipated to remain contracted into early August 2027. In the UK, the Joro was awarded an accommodation contract with an undisclosed operator, expected to start in mid-October 2026, with an estimated firm duration of 60 days and priced options estimated at 56 days. The firm work is expected to keep the Joro committed into December 2026.
Key Figures
Rigs with new commitments: 3 rigs
Norve firm scope duration: 245 days
Norve priced options duration: 175 days
+3 more
6 metrics
Rigs with new commitments
3 rigs
New commitments announced
Norve firm scope duration
245 days
Estimated duration for a firm scope of three wells
Norve priced options duration
175 days
Estimated duration
Natt option
One well
Option exercised by Shell Nigeria Exploration and Production Company
Joro firm contract duration
60 days
Estimated firm duration for UK accommodation activities
Joro priced options duration
56 days
Estimated duration
Key Terms
jack-up rigs, binding letter of award, priced options, firm scope, +1 more
5 terms
jack-up rigs technical
"three of its premium jack-up rigs"
A jack-up rig is a mobile offshore platform used for drilling or servicing wells that lowers extendable legs to the seabed and then raises the working platform above the water like a table on stilts. Investors care because these rigs are revenue-generating assets whose value and income depend on oil and gas demand, contract rates and utilization; think of them as specialized rental equipment whose earnings rise and fall with energy prices and project activity.
binding letter of award financial
"has received a binding letter of award"
A binding letter of award is a formal, signed document that confirms a company has been chosen to provide goods or services and creates a legal obligation to proceed under agreed terms. Think of it as a promissory handshake that becomes enforceable, similar to receiving a firm job offer that you and the employer must honor. For investors, it signals committed future revenue and potential costs or liabilities tied to the awarded work.
priced options financial
"includes priced options with an estimated duration"
firm scope financial
"includes a firm scope of three wells"
accommodation activities technical
"for accommodation activities in the UK"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What new rig commitments did BORR announce?
BORR announced a binding letter of award for the Norve, Shell Nigeria Exploration and Production Company’s exercise of a one-well option on the Natt, and an accommodation contract for the Joro in the UK. The Norve commitment includes a firm scope of three wells estimated at 245 days; the Joro contract has an estimated firm duration of 60 days.
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
OF THE SECURITIES EXCHANGE ACT OF 1934
October 1, 2026
Commission File Number 001-39007
Borr Drilling Limited
S. E. Pearman Building
2nd Floor 9 Par-la-Ville Road
Hamilton HM11
Bermuda
(Address of principal executive office)
Form 20-F ☒ Form 40-F ☐
Indicate by check mark if the registrant is submitting the Form 6-K on paper as permitted by Regulation S-T Rule 101(b)(1): ☐
Indicate by check mark if the registrant is submitting the Form 6-K on paper as permitted by Regulation S-T Rule 101(b)(7): ☐
Exhibits
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99.1
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Press Release
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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BORR DRILLING LIMITED
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Date: October 1, 2026
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By:
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/s/ Mi Hong Yoon
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Name:
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Mi Hong Yoon
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Title:
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Director
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Exhibit 99.1
PRESS RELEASE
Borr Drilling Limited – Contracting Updates
Hamilton, Bermuda, September 30, 2026 - Borr Drilling Limited (NYSE and OSE: BORR) (“Borr Drilling” or the “Company”) is pleased to announce new commitments for three of its premium jack-up rigs.
In West Africa, the Norve has received a binding letter of award from an undisclosed operator. The commitment is expected to commence in mid-December 2026 and includes a firm scope of three wells with an estimated duration of 245 days, keeping the rig committed into August 2027. The commitment also includes priced options with an estimated duration of 175 days.
Shell Nigeria Exploration and Production Company has exercised the one-well option on the Natt in Nigeria. Based on the current well program, it is anticipated that the rig will remain contracted with the customer into early August 2027.
In Europe, the Joro has been awarded a contract with an undisclosed operator for accommodation activities in the UK. The contract is expected to commence in mid-October 2026 and has an estimated firm duration of 60 days, keeping the rig committed into December 2026. The contract also includes priced options with an estimated duration of 56 days.
About Borr Drilling Limited
Borr Drilling Limited is an international drilling contractor incorporated in Bermuda in 2016 and listed on the New York Stock Exchange since July 31, 2019 and on Euronext Oslo Børs since May 21, 2026 under the ticker "BORR." The Company owns and operates jack-up rigs of modern and high specification designs and provides services focused on the shallow-water segment to the offshore oil and gas industry worldwide. Please visit our website at www.borrdrilling.com.
Forward-Looking Statements
This press release and related discussions include forward-looking statements made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements do not reflect historical facts and may be identified by words such as "anticipate", "believe", "continue", "estimate", "expect", "intends", "may", "should", "will", "likely", "aim", "plan", "guidance" and similar expressions and include statements regarding expectations about new contracts and commitments, the commencement, timing and duration of contracts, the exercise of options, contract coverage, backlog, and other non-historical statements. Such forward-looking statements are subject to risks, uncertainties, contingencies and other factors that could cause actual events to differ materially from the expectations expressed or implied by the forward-looking statements included herein, including risks relating to the commencement and duration of contracts, including our ability to commence contracts consistent with the timeframes described herein, risks related to contracting, including our ability to convert letters of intent, letters of award and other commitments into contracts, the risk that we may not enter into contracts or that contracts are not performed as expected, the risk of contract suspension or termination, the risk that options will not be exercised, the risk that backlog will not materialize as expected, risks relating to the operations of our rigs, risks relating to geopolitical events including their impact on our business and industry, risks relating to market trends, and other risks and uncertainties, including those described in our annual report on Form 20-F for the year ended December 31, 2025 and our other filings with and submissions to the Securities and Exchange Commission. Such risks, uncertainties, contingencies and other factors could cause actual events to differ materially from the expectations expressed or implied by the forward-looking statements included herein. These forward-looking statements are made only as of the date of this release. We do not undertake to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.
Contact
Benjamin Wiseman
Senior Manager, Corporate Finance & Investor Relations
+44 122 4289 230
ir@borrdrilling.com