AI assistant
Borr Drilling Investor Presentation 2024
6241_rns_2024-08-14_a2d3b236-8633-4c3d-8c8e-94044ff26ee1.pdf
Investor Presentation
Open in viewerOpens in your device viewer
Fleet Status Report
14 August 2024
Borr Drilling Limited S.E Pearman Building, 2nd FI, 9 Par-la-Ville Road, Hamilton HMI 1 , Bermuda
Client Enquiries: [email protected] ---------------------------------------------------------------------------------------------------------------------------------
© Investor Enquiries: [email protected]
Fleet Status Report - 14 August 2024
| New Contracts / Extensions / Amendments | ||||||||
|---|---|---|---|---|---|---|---|---|
| Norve | ||||||||
| • Contract extension: November 2024 to February 2025, BW Energy (Gabon) | ||||||||
| Arabia I | ||||||||
| • Contract: Q1 2025 to Q1 2029, Petrobras (Brazil) | ||||||||
| Prospector 1 | ||||||||
| • Contract extension: February 2025 to April 2025, ONE-Dyas (UK/Netherlands) | ||||||||
| Vali | ||||||||
| • Contract (from LOA): Q4 2024/Q1 2025 to Q1 2026/Q2 2026, Undisclosed (Africa) | ||||||||
| Letters of Award / Letters of Intent / Negotiations | ||||||||
| Gunnlod | ||||||||
| • LOA: November 2024 to May 2025, Undisclosed (Malaysia) | ||||||||
| Other Developments | ||||||||
| Thor | ||||||||
| • Concluded operations with Petronas Carigali (Indonesia) in late July 2024 and is expected to commence its subsequent contract in August 2024 | ||||||||
| Gunnlod | ||||||||
| • Concluded operations with PTTEP (Malaysia) in mid August 2024 | ||||||||
| Arabia I | ||||||||
| • Contract with Saudi Aramco terminated in late June 2024 | ||||||||
| Ran | ||||||||
| • Concluded well based program ahead of schedule with TotalEnergies (Mexico) and commenced operations with Wintershall (Mexico) in direct continuation in early August 2024 | ||||||||
| Vali | ||||||||
| • To be delivered imminently in August and will undergo activation | ||||||||
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.
Fleet Status Report - 14 August 2024
| Rig Name | Rig Design | Rig Water Depth (ft) |
Year Built | Customer / Status | Contract Start | Contract End | Location | Comments | ||
|---|---|---|---|---|---|---|---|---|---|---|
| Contracted Rigs | ||||||||||
| Arabia I | KFELS B Class | 400 ft | 2020 | Petrobras 3 | July - 2024 Q1 2025 |
December - 2024 Q1 2029 |
Bahrain/Brazil Brazil |
Contract Prep Committed with option to extend |
||
| Arabia II | KFELS B Class | 400 ft | 2019 | Saudi Aramco | October - 2022 | October - 2025 | Saudi Arabia | Operating with option to extend | ||
| Arabia III 1 | KFELS Super A Class | 400 ft | 2013 | Saudi Aramco | September - 2023 | September - 2028 | Saudi Arabia | Operating with option to extend | ||
| Galar | PPL Pacific Class 400 | 400 ft | 2017 | PEMEX 2 | April - 2024 | December - 2025 | Mexico | Operating | ||
| Gerd | PPL Pacific Class 400 | 400 ft | 2018 | Bunduq ENI |
December - 2023 November - 2024 |
August - 2024 April - 2025 |
United Arab Emirates Congo |
Operating LOA |
||
| Gersemi | PPL Pacific Class 400 | 400 ft | 2018 | PEMEX 2 | January - 2024 | December - 2025 | Mexico | Operating | ||
| Grid | PPL Pacific Class 400 | 400 ft | 2018 | PEMEX 2 | January - 2024 | December - 2025 | Mexico | Operating | ||
| Groa | PPL Pacific Class 400 | 400 ft | 2018 | Qatar Energy | April - 2022 | April - 2025 | Qatar | Operating with option to extend | ||
| Gunnlod | PPL Pacific Class 400 | 400ft | 2018 | Undisclosed | November - 2024 | May - 2025 | Malaysia | LOA | ||
| Hild | KFELS Super B Class | 400 ft | 2020 | Fieldwood Energy | October - 2023 | October - 2025 | Mexico | Operating | ||
| Idun | KFELS Super B Bigfoot Class | 350 ft | 2013 | PTTEP | February - 2024 | February - 2026 | Thailand | Operating with option to extend | ||
| Mist | KFELS Super B Bigfoot Class | 350 ft | 2013 | Valeura Energy | December - 2023 | August - 2025 | Thailand | Operating with option to extend | ||
| Natt | PPL Pacific Class 400 | 400 ft | 2018 | ENI | August - 2024 | December - 2025 | Congo | Operating | ||
| Njord | PPL Pacific Class 400 | 400 ft | 2019 | PEMEX 2 | April - 2024 | December - 2025 | Mexico | Operating | ||
| PPL Pacific Class 400 | BW Energy | December - 2022 | February - 2025 | Gabon | Operating | |||||
| Norve | 400 ft | 2011 | Marathon Oil | February - 2025 | June - 2025 | Equatorial Guinea | Committed | |||
| Odin | KFELS Super B Bigfoot Class | 350 ft | 2013 | PEMEX 2 | April - 2024 | December - 2025 | Mexico | Operating | ||
| F&G, JU2000E | ONE-Dyas | March - 2024 | October - 2024 | United Kingdom/Netherlands | Operating | |||||
| Prospector 1 1 | 400 ft | 2013 | Undisclosed | November - 2024 | January - 2025 | Netherlands | Committed | |||
| ONE-Dyas | February - 2025 | April - 2025 | United Kingdom/Netherlands | Committed with option to extend | ||||||
| Prospector 5 1 | F&G, JU2000E | 400 ft | 2014 | ENI | April - 2024 | May - 2026 | Congo | Operating | ||
| Ran 1 | KFELS Super A Class | 400 ft | 2013 | Wintershall | August - 2024 | December - 2024 | Mexico | Operating | ||
| Saga | KFELS Super B Bigfoot Class | 400 ft | 2018 | Brunei Shell Petroleum | November - 2022 | November - 2026 | Brunei | Operating with option to extend | ||
| Skald | KFELS Super B Bigfoot Class | 400 ft | 2018 | PTTEP | July - 2024 | September - 2025 | Thailand | Operating with option to extend | ||
| Thor | KFELS Super B Bigfoot Class | 400 ft | 2019 | HLJOC | August - 2024 | October - 2024 | Vietnam | Committed |
| و ته عالم ته على القرار المقالي المحافظة المنتخب المحافظة المنتخب المنتخب المنتخب المنتخب المنتخب المنتخب المنتخب المنتخب المنتخب المنتجات المحافظة المنتخب المنتخب المنتخب ا . 44 |
Borr |
|---|---|
| 4 | Drilling |
Fleet Status Report - 14 August 2024
| Rig Name | Rig Design | Rig Water Depth (ft) |
Year Built | Customer / Status | Contract Start | Contract End | Location | Comments | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Available Rigs | |||||||||||||
| None | |||||||||||||
| Under Construction Rigs | |||||||||||||
| Vali | KFELS Super B Bigfoot Class | 400 ft | 2024 | Under Construction / Activation | Singapore | Delivery on 15 August 2024 | |||||||
| Undisclosed | Q4 2024/Q1 2025 | Q1 2026/Q2 2026 | Africa | Committed with option to extend | |||||||||
| Var | KFELS Super B Bigfoot Class | 400 ft | Under Construction | Singapore | Available in January 2025 | ||||||||
| 1 - HD/HE Capability 2 - Rigs provided by Borr Drilling through a bareboat charter arrangement and services provided by our Mexican Joint Venture or by Borr Drilling, with ultimate customer being PEMEX 3 - Rig provided by Borr Drilling through a charter arrangement, with ultimate customer being Petrobras |
Operating / Committed Available Cold Stacked Under Construction 24 22 0 0 2 Total Fleet
| Fleet Status Report - 14 August 2024 | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Rig Name | Location | 2024 2025 |
2026 | |||||||||
| Q1 Q2 |
Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | ||
| Premium Jack-Ups | ||||||||||||
| Southeast Asia | ||||||||||||
| Thor | Vietnam | Petronas Carigali | HLJOC | |||||||||
| Gunnlod | Malaysia | ROC Oil PTTEP |
Undisclosed | |||||||||
| Idun | Thailand | Prep PTTEP | Option | |||||||||
| Mist | Thailand | Valeura Energy | Option | |||||||||
| Saga | Brunei | Brunei Shell Petroleum | ||||||||||
| Skald | Thailand | PTTEP | Option | |||||||||
| Middle East | ||||||||||||
| Arabia II | Saudi Arabia | Saudi Aramco | Option | |||||||||
| Arabia III 1 | Saudi Arabia | Saudi Aramco | ||||||||||
| Groa | Qatar | QatarEnergy | Option | |||||||||
| Gerd | United Arab Emirates/Congo | Bunduq | Prep | ENI | Option | |||||||
| Europe and Africa | ||||||||||||
| Prospector 1 1 | United Kingdom/Netherlands | Neptune ONE-Dyas | ONE-Dyas | Undisclosed | ONE-Dyas | Option | ||||||
| Natt | Congo | ENI | ||||||||||
| Norve | Gabon/Equatorial Guinea | BWE | Marathon Oil | |||||||||
| Prospector 5 1 | Congo | ENI | ||||||||||
| Mexico | ||||||||||||
| Ran 1 | Mexico | TotalEnergies | Wintershall | |||||||||
| Galar | Mexico | PEMEX 2 | ||||||||||
| Gersemi | Mexico | PEMEX 2 | ||||||||||
| Grid | Mexico | PEMEX 2 | ||||||||||
| Njord | Mexico | PEMEX 2 | ||||||||||
| Odin | Mexico | PEMEX 2 | ||||||||||
| Hild | Mexico | Fieldwood Energy | ||||||||||
| South America | ||||||||||||
| Arabia I | Bahrain/Brazil | Saudi Aramco Suspension |
Contract Preparation | Petrobras3 | ||||||||
| Jack-Ups Under Construction | ||||||||||||
| Vali | Singapore | Under activation | Undisclosed | Option | ||||||||
| Var | Singapore | Available in January 2025 | ||||||||||
| Available | Under Construction | |||||||||||
| Firm / LOA | Option | |||||||||||
1 - HD/HE Capability
2 - Rigs provided by Borr Drilling through a bareboat charter arrangement and services provided by our Mexican Joint Venture or by Borr Drilling, with ultimate customer being PEMEX
3 - Rig provided by Borr Drilling through a charter arrangement, with ultimate customer being Petrobras
Fleet Status Report - 14 August 2024
Additional information regarding this 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.