Borr Drilling Ltd. bought and took ownership of the jack up newbuild, Hull No. B378 (formerly named Hakuryu-15), for $122 million from Bot Lease Co. Ltd.
Hull B378 needs about 6 months to be operationally ready from the yard. The rig has a 75-ft cantilever and significant crane capacity, making it ideal for drilling deep high-pressure, high-temperature wells.
The rig is of similar design as the five newbuilds Borr bought from Transocean. Two of these five units have been delivered from the yard.
Borr said it believes that the acquired unit is well positioned for work at attractive rates.
In its latest fleet report, Borr said it increased the number of contracted and committed units to 18 as of Apr. 1 compared with 0 in January 2017.