BORR DRILLING SELLS STACKED JACKUP ATLA

October 29, 2020

Borr Drilling has entered into an agreement to sell its cold stacked jack-up drilling rig Atla to an independent operator. The completion of the sale is expected in the fourth quarter 2020. Together with the previously announced sale of the standard jack-up drilling rig “Eir”, which has been completed in October, the Company will record total cash proceeds of USD 13 million.
Formerly also known as GSF Constellation I, Atla is a Friede & Goldman 400 ft JU-2000 jackup built at PPL shipyard in Singapore in 2003. Atla is reported cold stacked in Abu Dhabi.
With the sale of these jack-ups, Borr Drilling continues to deliver on its fleet strategy of divesting inactive, cold stacked units and focus on the modern and highly efficient core fleet of premium jack-up rigs. Following these rig sales, Borr Drilling will have 28 modern assets built after 2011, and one remaining older cold stacked rig which is likely to be sold within the fourth quarter.
(Source: Borr Drilling)