Saudi Arabia suspended production at four offshore oilfields, including Safaniya and Zuluf, as security risks linked to tensions with Iran disrupted tanker traffic through the Strait of Hormuz.
Borr Drilling said four jack-up rigs in the Middle East are on standby amid the current regional situation. Three units in Qatar and the UAE were downmanned, while Arabia III was shut down safely after a 7 March 2026 incident.
Borr Drilling completed a $360 million purchase of five premium jack-ups from Noble Corporation, lifting its fleet to 29 rigs and supporting near-term opportunities across key offshore basins.
Borr Drilling confirms new jack-up work: Ran extends in Mexico for a 75-day ENI well, while Odin secures a US two-well programme with an optional third, starting mid-2026.
Semi-submersible heavy lift vessel Seaway Falcon has loaded jack-up GRID at Dos Bocas, Mexico, and sailed for West Africa, ahead of planned GRID campaigns in Congo and Angola through August 2026.
Borr Drilling has priced an additional $165 million of 10.375% senior secured notes due 2030 to help fund the acquisition of five premium jack-up rigs and for general corporate purposes.
Noble Corporation plc will sell six jackup rigs for about $424 million, with five units going to Borr Drilling Limited and one to Ocean Oilfield Drilling, leaving Noble focused on deepwater and ultra-harsh jackups.
Vaalco Energy has once again delayed its multi-well drilling campaign offshore Gabon, now set to begin in the fourth quarter as the company reports lower third-quarter earnings due to maintenance and weaker oil prices.
Borr Drilling reported higher Q3 2025 revenue and new contracts in Mexico, the Gulf of America, and Angola, with strong rig utilization across its fleet.
