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Borr Drilling Management Reports 2019
6241_rns_2019-11-01_b2286a81-1b7d-40e1-8f5b-5b0955d30094.pdf
Management Reports
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Fleet Status Report
01st November 2019
Headquarters Borr Drilling Management (UK) Limited 20 North Audley Street, Mayfair Postcode - W1K 6LX, London – UK
+971 4 4487501
Fleet Status Report - 1st November 2019
| New Contracts / Extensions / Amendments | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Prospector 1 | |||||||||||
| • New Contract (from LOA): Nov 2019 to Feb 2020,Total, Netherlands | |||||||||||
| Galar | |||||||||||
| • New Contract: Feb 2020 to Jul 2021, PEMEX, Mexico | |||||||||||
| Njord | |||||||||||
| • New Contract: Feb 2020 to Jul 2021, PEMEX, Mexico | |||||||||||
| Idun | |||||||||||
| • New Contract: Nov 2019 to Feb 2020, Hoang Long, Vietnam | |||||||||||
| Frigg | |||||||||||
| • Extension: Dec 2019 to Nov 2020, Nigeria | |||||||||||
| Mist | |||||||||||
| • Extension: Dec 2019 to Apr 2020,Vestigo, Malaysia | |||||||||||
| Letters of Intent / Negotiations |
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.
Fleet Status Report - 1st November 2019
| Rig Name | Rig Design | Rig Water Depth (ft) |
Year Built | Customer / Status | Contract Start | Contract End | Location | Comments | ||
|---|---|---|---|---|---|---|---|---|---|---|
| Premium Jack-Ups | ||||||||||
| Saga | KFELS Super B Bigfoot Class | 400 ft | 2018 | Available | Singapore | Warm Stacked | ||||
| Gunnlod | PPL Pacific Class 400 | 400 ft | 2018 | Available | Singapore | Warm Stacked | ||||
| Gyme | PPL Pacific Class 400 | 400 ft | 2018 | Available | Singapore | Warm Stacked | ||||
| Skald | KFELS Super B Bigfoot Class | 400 ft | 2018 | Available | Singapore | Warm Stacked | ||||
| Thor | KFELS Super B Bigfoot Class | 400 ft | 2019 | Available | Singapore | Warm Stacked | ||||
| Hermod | KFELS Mod V | 400 ft | 2019 | Available | Singapore | Warm Stacked | ||||
| Available | September - 2019 | October - 2019 | Singapore | Contract Preparations and Mobilization | ||||||
| Idun | KFELS Super B Bigfoot Class | 350 ft | 2013 | Hoang Long | November - 2019 | February - 2020 | Vietnam | Commited | ||
| Available | November - 2019 | January - 2020 | Singapore | Contract Preparations and Mobilization | ||||||
| Galar | PPL Pacific Class 400 | 400 ft | 2017 | PEMEX | February - 2020 | July - 2021 | Mexico | Committed | ||
| Available | November - 2019 | January - 2020 | Singapore | Contract Preparations and Mobilization | ||||||
| Njord | PPL Pacific Class 400 | 400 ft 2019 |
PEMEX | February - 2020 | July - 2021 | Mexico | Committed | |||
| Mist | KFELS Super B Bigfoot Class | 351 ft | 2013 | Vestigo Petroleum | June - 2019 | April - 2020 | Malaysia | Operating | ||
| Gersemi | PPL Pacific Class 400 | 400 ft | 2018 | PEMEX | August - 2019 | February - 2021 | Mexico | Operating | ||
| Grid | PPL Pacific Class 400 | 400 ft | 2018 | PEMEX | August - 2019 | February - 2021 | Mexico | Operating | ||
| Odin | KFELS Super B Bigfoot Class | 350 ft | 2013 | PanAmerican | April - 2019 | December - 2019 | Mexico | Operating | ||
| PEMEX | December - 2019 | May - 2021 | Mexico | Committed | ||||||
| KFELS Super A | 400 ft | Total | January - 2019 | June - 2019 | Nigeria | Operating | ||||
| Frigg 1 | 2013 | Shell (via Assignment) | June - 2019 | November - 2019 | Nigeria | Operating with option to extend | ||||
| Undisclosed | December - 2019 | November - 2020 | Nigeria | Committed | ||||||
| Tulip | December - 2018 | September - 2019 | Netherlands | Operating | ||||||
| Prospector 1 1 | F&G, JU2000E | 400 ft | 2013 | Available | September - 2019 | October - 2019 | Undisclosed | Warm Stacked | ||
| Total | November - 2019 | February - 2020 | Netherlands | Committed with option to extend | ||||||
| Neptune | May - 2019 | December - 2019 | Netherlands | Operating | ||||||
| Prospector 5 1 | F&G, JU2000E | 400 ft | 2014 | Available | January - 2020 | July - 2020 | Netherlands | Warm Stacked | ||
| Undisclosed | August - 2020 | August - 2021 | Undisclosed | LOA | ||||||
| Gerd | PPL Pacific Class 400 | 400 ft | 2018 | Exxon | April - 2019 | April - 2021 | Nigeria | Operating with option to extend | ||
| Groa | PPL Pacific Class 400 | 400 ft | 2018 | Exxon | May - 2019 | May - 2021 | Nigeria | Operating with option to extend | ||
| Ran 1 | KFELS Super A | 400 ft | 2013 | Spirit Energy | April - 2019 | April - 2020 | United Kingdom | Operating | ||
| Norve | PPL Pacific Class 400 | 400 ft | 2011 | Available | April - 2019 | July - 2019 | Gabon / Cameron | Warm Stacked | ||
| BW Energy Dussafu | August - 2019 | July - 2020 | Gabon | Operating with option to extend | ||||||
| Natt | PPL Pacific Class 400 | 400 ft | 2018 | First E&P | April - 2019 | April - 2021 | Nigeria | Operating with option to extend | ||
| Standard Jack-Ups | ||||||||||
| Dhabi II | Baker Marine BMC-150 ILC | 150 ft | 1981 | ADNOC (ADOC) | April - 2017 | July - 2022 | United Arab Emirates | Operating | ||
| B152 | Baker Marine BMC-150 ILC | 150 ft | 1982 | ADNOC (ADOC) | April - 2017 | November - 2019 | United Arab Emirates | Operating | ||
| B391 | Baker Marine Europe Class | 250 ft | 1981 | Available | The Netherlands | Warm Stacked | ||||
Fleet Status Report - 1st November 2019
| Rig Name | Rig Design | Rig Water Depth (ft) |
Year Built | Customer / Status | Contract Start | Contract End | Location | Comments | |||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Semi-Submersible | |||||||||||
| MSS1 | Offshore Company (IDC) SCP III M2 | 1500 ft | 1979 | TAQA | March - 2018 | April - 2020 | United Kingdom | Operating with option to extend | |||
| Jack-Ups Under Construction | |||||||||||
| Heimdal | KFELS Mod V | 400 ft | Under Construction | KFELS shipyard, Singapore | Rig Delivery in January - 2020 | ||||||
| Hild | KFELS Super B Bigfoot Class | 400 ft | Under Construction | KFELS shipyard, Singapore | Rig Delivery in April - 2020 | ||||||
| Huldra | KFELS Mod V | 400 ft | Under Construction | KFELS shipyard, Singapore | Rig Delivery in July - 2020 | ||||||
| Tivar | KFELS Super B Bigfoot Class | 400 ft | Under Construction | KFELS shipyard, Singapore | Rig Delivery in July - 2020 | ||||||
| Heidrun | KFELS Mod V | 400 ft | Under Construction | KFELS shipyard, Singapore | Rig Delivery in October - 2020 | ||||||
| Vale | KFELS Super B Bigfoot Class | 400 ft | Under Construction | KFELS shipyard, Singapore | Rig Delivery in October - 2020 | ||||||
| Var | KFELS Super B Bigfoot Class | 400 ft | Under Construction | KFELS shipyard, Singapore | Rig Delivery in December - 2020 | ||||||
| Cold Stacked Jack-Ups | |||||||||||
| Atla | F&G, JU 2000 | 400 ft | 2003 | United Arab Emirates | |||||||
| Balder | F&G, JU 2000 | 400 ft | 2003 | Cameroon | |||||||
| Eir 2 | F&G, Mod VI Universe Class | 394 ft | 1999 | United Kingdom | Not Marketed | ||||||
| 1 - HD/HE Capability. |
2 - Asset under sales agreement subject to conditions
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 | 30 | 15 | 6 | 2 | 7 |
| Standard Jack-Ups | 4 | 2 | 1 | 2 1 |
|
| Total Jack-Ups | 34 | ||||
| Semi - Submersible | 1 | 1 | |||
| Total Fleet | 35 | 18 | 7 | 3 | 7 |
Fleet Status Report - 1st November 2019
| 2019 | 2020 | 2021 | 2022 | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Rig Name | Location | Q1 Q2 Q3 |
Q4 | Q1 | Q2 Q3 |
Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 |
| Premium Jack-Ups | ||||||||||||||
| Saga | Singapore | Warm Stacked | ||||||||||||
| Gunnlod | Singapore | Warm Stacked | ||||||||||||
| Gyme | Singapore | Warm Stacked | ||||||||||||
| Skald | Singapore | Warm Stacked | ||||||||||||
| Thor | Singapore | Warm Stacked | ||||||||||||
| Hermod | Singapore | Warm Stacked | LOA - Undisclosed | |||||||||||
| Idun | Singapore / Vietnam | Warm Stacked | Hoang Long | Option | ||||||||||
| Galar | Singapore / Mexico | Warm Stacked | Mob | PEMEX | ||||||||||
| Njord | Singapore / Mexico | Warm Stacked | Mob | PEMEX | ||||||||||
| Mist | Singapore / Malaysia | Vestigo Petroleum | ||||||||||||
| Gersemi | Singapore | PEMEX Mobilization |
||||||||||||
| Grid | Singapore | Mobilization PEMEX |
||||||||||||
| Odin | Mexico | Mobilization PanAmerican | PEMEX | |||||||||||
| Frigg 1 | Nigeria | Total Shell (via Assignment) |
Undisclosed | |||||||||||
| Prospector 1 1 | Netherlands | Tulip | Total Option |
|||||||||||
| Prospector 5 1 | Netherlands /Undisclosed | Neptune | LOA - Undisclosed | |||||||||||
| Gerd | Nigeria | Mobilization Exxon | 2 x 1 Year Optional Period | |||||||||||
| Groa | Nigeria | Exxon Activation & Mob |
2 x 1 Year Optional Period | |||||||||||
| Ran 1 | United Kingdom | Activation & Mob Spirit Energy | ||||||||||||
| Norve | Gabon / Cameron | Perenco BW Energy Dussafu |
Option | |||||||||||
| Natt | Nigeria | Mobilization First E&P | 1 Year Optional Period | |||||||||||
| Standard Jack-Ups | ||||||||||||||
| Dhabi II | United Arab Emirates | ADNOC (ADOC) | ||||||||||||
| B152 | United Arab Emirates | ADNOC (ADOC) | ||||||||||||
| B391 | United Kingdom | Spirit Energy Warm Stacked |
||||||||||||
| Semi-Submersible | ||||||||||||||
| MSS1 | United Kingdom | TAQA | Up to 5 option wells (375 days) | |||||||||||
Fleet Status Report - 1st November 2019
| 2019 | 2020 | 2021 | 2022 | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Rig Name | Location | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | |
| Jack-Ups Under Construction Rig Delivery in January - 2020 |
||||||||||||||||||
| Heimdal | KFELS shipyard, Singapore | |||||||||||||||||
| Hild | KFELS shipyard, Singapore | Rig Delivery in April - 2020 | ||||||||||||||||
| Huldra | KFELS shipyard, Singapore | Rig Delivery in July - 2020 | ||||||||||||||||
| Tivar | KFELS shipyard, Singapore | Rig Delivery in July - 2020 | ||||||||||||||||
| Heidrun | KFELS shipyard, Singapore | Rig Delivery in October - 2020 | ||||||||||||||||
| Vale | KFELS shipyard, Singapore | Rig Delivery in October - 2020 | ||||||||||||||||
| Var | KFELS shipyard, Singapore | Rig Delivery in December - 2020 | ||||||||||||||||
| Cold Stacked Jack-Ups | ||||||||||||||||||
| Atla | United Arab Emirates | |||||||||||||||||
| Balder | Cameroon | |||||||||||||||||
| Eir 2 | United Kingdom | Not Marketed | ||||||||||||||||
| Contract | Option | Available | Under Construction | |||||||||||||||
| 1 - HD/HE Capability. | 2 - Asset under sales agreement subject to conditions. |
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.