Borr Drilling buys 5 jack up rigs from Keppel FELS

Keppel Corp. Ltd., a wholly owned subsidiary of Keppel Offshore & Marine Ltd., has sold five jack up rigs to Borr Drilling Ltd. for $745 million. One rig is scheduled to be delivered in late-2019 with four rigs to be delivered during 2020.

Two of the rigs, the Cantarell V and Paraiso II, were built for Grupo R and one for Falcon Energy Group. Keppel FELS has terminated the contracts.

The other two rigs were being built in anticipation of demand.