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Borr Drilling — Investor Presentation 2021
May 31, 2021
6241_rns_2021-05-31_27cc2750-e725-4c56-9b0c-61b8d3d5a392.pdf
Investor Presentation
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Fleet Status Report
31st May 2021
Borr Drilling Limited S.E Pearman Building, 2nd Fl, 9 Par-la-Ville Road, Hamilton HM11, Bermuda
+971 4 4487501
Borr Drilling
Fleet Status Report - 31st May 2021
| New Contracts / Extensions / Amendments | ||||||||
|---|---|---|---|---|---|---|---|---|
| Prospector 1 | ||||||||
| • Signed Contract (from LOI): May 2021 to August 2021 and December 2021 to March 2022, Neptune, Netherlands | ||||||||
| • Signed Contract: August 2021 to October 2021, Tulip, Netherlands | ||||||||
| • Option Exercised: October 2021 to November 2021, Tulip, Netherlands | ||||||||
| Norve | ||||||||
| • Option Exercised : August 2021 to September 2021, BWE, Gabon | ||||||||
| Idun | ||||||||
| • Assignment of Contract : June 2021 to January 2022, Petronas, Malaysia ` |
||||||||
| Gunnlod | ||||||||
| • Options Exercised: May 2021 to September 2021, PTTEP, Malaysia | ||||||||
| Skald | ||||||||
| • Signed Contract (from LOA): June 2021 to June 2024, PTTEP, Thailand | ||||||||
| Natt |
• Signed Contract : May 2021 to September 2021, Oriental, Nigeria
Borr Drilling
Fleet Status Report - 31st May 2021
| Letters of Award / Letters of Intent / Negotiations | |
|---|---|
| Norve | |
| • LOI: December 2021 to April 2022, Undisclosed, Gabon | |
| Saga | |
| • LOA : September 2021 to August 2022, Undisclosed, Malaysia | |
| Odin | |
| • Incremental Work Scope: August 2021 to December 20222, Pemex, Mexico | |
| Galar | |
| • Incremental Work Scope: October 2021 to December 2022, Pemex, Mexico | |
| Njord | |
| • Incremental Work Scope: January 2022 to December 2022, Pemex, Mexico | |
| Grid | |
| • Incremental Work Scope: March 2021 to December 2022, Pemex, Mexico | |
| Gersemi | |
| • Incremental Work Scope: March 2021 to December 2022, Pemex, Mexico | |
This summary is provided as a courtesy and is not intended to replace a detailed review of the Fleet Status Report. This summary contains information on letters of intent/award and advanced negotiations. Letters of intent/award or advanced negotiations may not result in an actual drilling contract.
Forward Looking Statements:
The statements described in this status report that are not historical facts are "Forward Looking Statements".
Forward Looking Statements reflect management's current expectations and assumptions, and are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. No assurance can be given that the expectations expressed in these Forward-Looking Statements will prove to be correct. Actual results could differ materially from expectations expressed in, or implied by, the Forward-Looking Statements if one or more of the underlying assumptions or expectations proves to be inaccurate or is unrealised. These include, but are not limited to, changes to commencement dates, contract duration, earned day rates, locations and other contractual terms; risks relating to the delivery of drilling rigs under construction; sale and purchase of drilling units; oil and gas prices; and risks associated with international operations generally.
No Forward-Looking Statement contained in herein or expressed elsewhere should be relied upon as predicting future events.
We undertake no obligation to update or revise any Forward-Looking Statements to reflect events or circumstances that occur, or which we become aware of, after the date hereof, except as otherwise may be required by law.
Borr Drilling 31st May 2021
| Rig Name | Rig Design | Rig Water Depth (ft) |
Year Built | Customer / Status | Contract Start | Contract End | Location | Comments | |
|---|---|---|---|---|---|---|---|---|---|
| Premium Jack-Ups | |||||||||
| Mist | KFELS Super B Bigfoot Class | 350 ft | 2013 | Available | Malaysia | Warm Stacked | |||
| Neptune | May - 2021 | August- 2021 | Netherlands | Operating | |||||
| Prospector 1 1 | F&G, JU2000E | 400 ft | 2013 | Tulip | August - 2021 | November - 2021 | Netherlands | Committed | |
| Neptune | December - 2021 | March - 2022 | Netherlands | Commited with option to extend | |||||
| 400 ft | 2011 | BWE | April - 2021 | September - 2021 | Gabon | Committed | |||
| Norve | PPL Pacific Class 400 | Undisclosed | December - 2021 | April - 2022 | West Africa | LOI with option to extend | |||
| Vestigo | March - 2021 | May - 2021 | Malaysia | Operating | |||||
| Idun | KFELS Super B Bigfoot Class | 350ft | 2013 | Petronas | June - 2021 | January - 2022 | Malaysia | Committed | |
| Gunnlod | PPL Pacific Class 400 | 400 ft | 2018 | PTTEP | September - 2020 | September - 2021 | Malaysia | Operating with option to extend | |
| KFELS Super B Bigfoot Class | 400 ft | 2018 | PTTEP / JX Nippon | September- 2020 | August - 2021 | Malaysia | Operating with option to extend | ||
| Saga | Undisclosed | September - 2021 | August - 2022 | Malaysia | LOA | ||||
| Galar | PPL Pacific Class 400 | 400 ft | 2017 | PEMEX | April - 2020 | December - 2022 | Mexico | Operating | |
| Njord | PPL Pacific Class 400 | 400 ft | 2019 | PEMEX | June - 2020 | December - 2022 | Mexico | Operating | |
| Gersemi | PPL Pacific Class 400 | 400 ft | 2018 | PEMEX | August - 2019 | December - 2022 | Mexico | Operating | |
| Grid | PPL Pacific Class 400 | 400 ft | 2018 | PEMEX | August - 2019 | December - 2022 | Mexico | Operating | |
| Odin | KFELS Super B Bigfoot Class | 350 ft | 2013 | PEMEX | March - 2020 | December - 2022 | Mexico | Operating | |
| Prospector 5 1 | F&G, JU2000E | 400 ft | 2014 | CNOOC | November - 2020 | February - 2022 | United Kingdom | Operating with option to extend | |
| Natt | PPL Pacific Class 400 | 400 ft | 2018 | Oriental | May - 2021 | September - 2021 | Nigeria | Operating with option to extend | |
| Mobilization | February - 2021 | May - 2021 | Singapore | Contract Preparations and Mobilization | |||||
| Skald | KFELS Super B Bigfoot Class | 400 ft | 2018 | PTTEP | June - 2021 | June - 2024 | Thailand | Commited with option to extend | |
| Gyme | PPL Pacific Class 400 | 400 ft | 2018 | Available | Singapore | Warm Stacked | |||
| Thor | KFELS Super B Bigfoot Class | 400 ft | 2019 | Available | Singapore | Warm Stacked | |||
| Hermod | KFELS B Class | 400 ft | 2019 | Available | Singapore | Warm Stacked | |||
| Heimdal | KFELS B Class | 400 ft | 2020 | Available | Singapore | Warm Stacked | |||
| Hild | KFELS Super B Class | 400 ft | 2020 | Available | Singapore | Warm Stacked | |||
| Gerd | PPL Pacific Class 400 | 400 ft | 2018 | Available | Cameroon | Warm Stacked | |||
| Groa | PPL Pacific Class 400 | 400 ft | 2018 | Available | Cameroon | Warm Stacked | |||
| Frigg 1 | KFELS Super A | 400 ft | 2013 | Available | Cameroon | Warm Stacked | |||
| Ran 1 | KFELS Super A | 400 ft | 2013 | Available | United Kingdom | Warm Stacked |
| Borr Drilling 31st May 2021 |
||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Rig Name | Rig Design | Rig Water Depth (ft) |
Year Built | Customer / Status | Contract Start | Contract End | Location | Comments | ||
| Jack-Ups Under Construction | ||||||||||
| Tivar | KFELS Super B Bigfoot Class | 400 ft | Under Construction | KFELS shipyard, Singapore | Rig Delivery in May - 2023 | |||||
| Vale | KFELS Super B Bigfoot Class | 400 ft | Under Construction | KFELS shipyard, Singapore | Rig Delivery in July - 2023 | |||||
| Var | KFELS Super B Bigfoot Class | 400 ft | Under Construction | KFELS shipyard, Singapore | Rig Delivery in September - 2023 | |||||
| Huldra | KFELS Bigfoot B Class | 400 ft | Under Construction | KFELS shipyard, Singapore | Rig Delivery in October - 2023 | |||||
| Heidrun | KFELS Bigfoot B Class | 400 ft | Under Construction | KFELS shipyard, Singapore | Rig Delivery in December - 2023 |
1 - HD/HE Capability.
Forward Looking Statements:
The statements described in this status report that are not historical facts are "Forward Looking Statements".
Forward Looking Statements reflect management's current expectations and assumptions, and are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. No assurance can be given that the expectations expressed in these Forward-Looking Statements will prove to be correct. Actual results could differ materially from expectations expressed in, or implied by, the Forward-Looking Statements if one or more of the underlying assumptions or expectations proves to be inaccurate or is unrealised. These include, but are not limited to, changes to commencement dates, contract duration, earned day rates, locations and other contractual terms; risks relating to the delivery of drilling rigs under construction; sale and purchase of drilling units; oil and gas prices; and risks associated with international operations generally.
No Forward-Looking Statement contained in herein or expressed elsewhere should be relied upon as predicting future events. We undertake no obligation to update or revise any Forward-Looking Statements to reflect events or circumstances that occur, or which we become aware of, after the date hereof, except as otherwise may be required by law.
| Operating / Committed | Available | Cold Stack | Under Construction | ||
|---|---|---|---|---|---|
| Premium Jack-Ups | 28 | 13 | 10 | 0 | 5 |
| Total Fleet | 28 | 13 | 10 | 0 | 5 |
Borr Drilling
Mist Malaysia Vestigo ROC Oil Prospector 1 1 North Sea Total One-Dyas Neptune Tulip Neptune Option Norve Gabon BW Energy BWE LOI LOI Option Idun Malaysia Vestigo Petronas Gunnlod Singapore / Malaysia PTTEP Option Saga Vietnam / Malaysia Eni Mob PTTEP JX Nippon PTTEP LOA Gersemi Mexico Grid Mexico Natt Nigeria Oriental Option Galar Mexico PEMEX Njord Mexico PEMEX Odin Mexico PEMEX Prospector 5 1 United Kingdom CNOOC Option Gerd Cameroon Exxon Warm Stacked Groa Cameroon Exxon Warm Stacked Ran 1 United Kingdom Spirit Energy Warm Stacked Frigg 1 Cameroon Shell Warm Stacked Skald Singapore / Thailand Warm Stacked Contract Prep & Mob PTTEP Gyme Singapore Warm Stacked Thor Singapore Warm Stacked Hermod Singapore Warm Stacked Heimdal Singapore Warm Stacked Hild Singapore Warm Stacked Q4 Q1 Q4 Fleet Status Report - 31st May 2021 Rig Name Location 2020 2021 2022 Q1 Q2 Q3 Q4 2023 Q3 Q2 Q3 Q2 Q3 Contract Prep & Mob Warm Stacked Q1 Q2 Q4 Hoang Long JVPC Warm Stacked Warm Stacked PEMEX PEMEX Q1 First E&P Mob Mob Mob Neptune Warm Stacked Jack-Ups Under Construction Mob Premium Jack-Ups Warm Stacked Warm Stacked
| Jack-Ups Under Construction | ||||||
|---|---|---|---|---|---|---|
| Tivar | KFELS shipyard, Singapore | Rig Delivery in May - 2023 | ||||
| Vale | KFELS shipyard, Singapore | Rig Delivery in July - 2023 | ||||
| Var | KFELS shipyard, Singapore | Rig Delivery in September - 2023 | ||||
| Huldra | KFELS shipyard, Singapore | Rig Delivery in October - 2023 | ||||
| Heidrun | KFELS shipyard, Singapore | Rig Delivery in December - 2023 | ||||
| Firm | Option | Available | Under Construction | |||
1 - HD/HE Capability.
Forward Looking Statements:
The statements described in this status report that are not historical facts are "Forward Looking Statements".
Forward Looking Statements reflect management's current expectations and assumptions, and are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. No assurance can be given that the expectations expressed in these Forward Looking Statements will prove to be correct. Actual results could differ materially from expectations expressed in, or implied by, the Forward Looking Statements if one or more of the underlying assumptions or expectations proves to be inaccurate or is unrealised. These include, but are not limited to, changes to commencement dates, contract duration, earned day rates, locations and other contractual terms; risks relating to the delivery of drilling rigs under construction; sale and purchase of drilling units; oil and gas prices; and risks associated with international operations generally.
No Forward Looking Statement contained in herein or expressed elsewhere should be relied upon as predicting future events.
We undertake no obligation to update or revise any Forward Looking Statements to reflect events or circumstances that occur, or which we become aware of, after the date hereof, except as otherwise may be required by law.