Borr Drilling Acquires Five Jack-Up Rigs via New Joint Venture
Borr Drilling Limited announced the completion of its acquisition of five premium jack-up rigs through a newly formed joint venture, BC Ventures. The transaction totaled $287 million.
Borr Drilling Limited announced on July 29, 2026, that it has completed the acquisition of five premium jack-up rigs. The rigs were acquired through BC Ventures Limited, a 50/50 joint venture established by Borr Drilling and its long-term well construction partner in Mexico.
The transaction involved the purchase of the rig-owning entities of two Friede & Goldman JU-2000E design rigs, named Oberon and Titania FE, and three LeTourneau Super 116-C design rigs from Fontis Finance Ltd. The total purchase price for the five rigs amounted to $287 million.
This acquisition is expected to enhance Borr Drilling's fleet and its ability to serve clients in the offshore drilling sector. The addition of these modern rigs aligns with the company's strategy to strengthen its market position and operational capabilities.
Borr Drilling operates a fleet of offshore drilling rigs, primarily focused on the jack-up segment. The company aims to provide efficient and reliable drilling services to national and international oil companies.