Borr Drilling Secures Contracts for Three Jack-Up Rigs

MT newswire2026/09/30 21:52

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05:52 PM EDT, 09/30/2026 (MT Newswires) -- Borr Drilling (BORR) secured new commitments for three premium jack-up rigs, extending their contracted periods into late 2026 and 2027, the company said late Wednesday. Financial details weren't provided. The Norve received a binding award in West Africa starting in December for three wells over about 245 days, with options for another 175 days, Borr said. Shell Nigeria Exploration and Production exercised a one-well option on the Natt in Nigeria, keeping the rig contracted into early August 2027, while the Joro won a 60-day accommodation contract starting in October in the UK, with options for another 56 days, Borr said.

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According to Freddie Mac data, the 30-year fixed mortgage rate has risen to 7.4%, the highest level in nearly three years. Data from real estate brokerage Redfin shows that the volume of existing home pending sales in September fell 4% month-on-month, marking the largest single-month drop in over three years and hitting the lowest level since 2014. Nearly one-fifth of sellers have reduced prices, and the home purchase contract cancellation rate has reached a record high of 14.5%. Inventory levels have risen to the highest since March 2020, but high financing costs continue to constrain transactions.

华尔街见闻•2026/10/12 20:41