EX-99.3 4 ef20043977_ex99-3.htm EXHIBIT 99.3
Exhibit 99.3



Borr Drilling
 
Fleet Status Report - 19 February 2025
 
         
         
         
New Contracts / Extensions / Amendments
         
 
Norve
     
 
•   Contract: July 2025 to April 2026, Vaalco Energy (Gabon)
   
 
Thor
     
 
•   Contract: May 2025 to June 2025, Undisclosed (Southeast Asia)
   
 
Groa
     
 
•   Options exercised: April 2025 to April 2026, Qatar Energy (Qatar)
   
         
Letters of Award / Letters of Intent / Negotiations
         
 
Gerd
     
 
•   Binding LOA: June 2025 to September 2025, Undisclosed (West Africa)
   
         
Other Developments
         
 
Arabia II
     
 
•   Received notice of suspension from Saudi Aramco, Saudi Arabia in November 2024. Contract was terminated effective late December 2024
 
Galar, Gersemi and Grid
   
 
•   Received a notice of temporary suspension
   
 
Gerd
     
 
•   Commenced operations with Eni in Congo in early December 2024
   
 
Prospector 1
     
 
•   Commenced operations with an undisclosed customer in Netherlands in early December 2024
   
 
Arabia I
     
 
•   Mobilized to Brazil; Undergoing contract preparation and customer acceptance ahead of its new contract
 
Vali
     
 
•   Mobilized to Malta; Undergoing contract preparation and customer acceptance ahead of its new contract


          
Borr Drilling
 
Fleet Status Report - 19 February 2025
 

 
Rig Name
 
Rig Design
 
Rig Water
Depth (ft)
 
Year Built
 
Customer  / Status
 
Contract Start
 
Contract End
 
Location
 
Comments
                                 
                                 
Contracted Rigs
                                 
Arabia I
 
KFELS B Class
 
400 ft
 
2020
 
Petrobras 3
 
Q1  2025
 
Q1 2029
 
Brazil
 
Committed with option to extend
Arabia III 1
 
KFELS Super A Class
 
400 ft
 
2013
 
Saudi Aramco
 
September - 2023
 
September - 2028
 
Saudi Arabia
 
Operating with option to extend
Galar
 
PPL Pacific Class 400
 
400 ft
 
2017
 
PEMEX 2
 
April - 2024
 
December - 2025
 
Mexico
 
Temporary Suspension
Gerd
 
PPL Pacific Class 400
 
400 ft
 
2018
 
ENI
 
 December - 2024
 
May - 2025
 
Congo
 
Operating
               
Undisclosed
 
June - 2025
 
September - 2025
 
West Africa
 
LOA
Gersemi
 
PPL Pacific Class 400
 
400 ft
 
2018
 
PEMEX 2
 
January - 2024
 
December - 2025
 
Mexico
 
Temporary Suspension
Grid
 
PPL Pacific Class 400
 
400 ft
 
2018
 
PEMEX 2
 
January - 2024
 
December - 2025
 
Mexico
 
Temporary Suspension
Groa
 
PPL Pacific Class 400
 
400 ft
 
2018
 
Qatar Energy
 
April - 2022
 
April - 2026
 
Qatar
 
Operating
Gunnlod
 
PPL Pacific Class 400
 
400ft
 
2018
 
ExxonMobil
 
November - 2024
 
July - 2025
 
Malaysia
 
Operating
 Hild
 
KFELS Super B Class
 
400 ft
 
2020
 
Fieldwood Energy
 
October - 2023
 
March - 2026
 
Mexico
 
Operating with option to extend
Idun
 
KFELS Super B Bigfoot Class
 
350 ft
 
2013
 
PTTEP
 
 February - 2024
 
 February - 2026
 
Thailand
 
Operating
Mist
 
KFELS Super B Bigfoot Class
 
350 ft
 
2013
 
Valeura Energy
 
December - 2023
 
August - 2026
 
Thailand
 
Operating with option to extend
Natt
 
PPL Pacific Class 400
 
400 ft
 
2018
 
ENI
 
August - 2024
 
December - 2025
 
Congo
 
Operating
Njord
 
PPL Pacific Class 400
 
400 ft
 
2019
 
PEMEX 2
 
April - 2024
 
December - 2025
 
Mexico
 
Operating

 
 

 

 
BW Energy
 
December - 2022
 
February - 2025
 
Gabon
 
Operating
Norve
 
PPL Pacific Class 400
 
400 ft
  2011  
Marathon Oil
 
March - 2025
 
 June - 2025
 
Equatorial Guinea
 
Committed
               
Vaalco Energy
 
July - 2025
 
April - 2026
 
Gabon
 
Committed with option to extend
Odin
 
KFELS Super B Bigfoot Class
 
350 ft
 
2013
 
PEMEX 2
 
April - 2024
 
December - 2025
 
Mexico
 
Operating
Prospector 1 1
 
  
F&G, JU2000E
 
  
400 ft
 
  
2013
   
Undisclosed
ONE-Dyas
  
 December - 2024
March - 2025
  
February - 2025
July - 2025
  
Netherlands
United Kingdom/Netherlands
  
Operating
Committed with option to extend
Prospector 5 1
 
F&G, JU2000E
 
400 ft
 
2014
 
ENI
 
April - 2024
 
May - 2026
 
Congo
 
Operating
Saga
 
KFELS Super B Bigfoot Class
 
400 ft
 
2018
 
Brunei Shell Petroleum
 
November - 2022
 
November - 2026
 
Brunei
 
Operating with option to extend
Skald
 
KFELS Super B Bigfoot Class
 
400 ft
 
2018
 
PTTEP
 
July - 2024
 
September - 2025
 
Thailand
 
Operating with option to extend
Thor
 
KFELS Super B Bigfoot Class
 
400 ft
 
2019
     
November - 2024
 
April - 2025
 
Singapore
 
Warm Stacked
               
Undisclosed
 
May - 2025
 
June - 2025
 
Southeast Asia
 
Committed
Vali
 
KFELS Super B Bigfoot Class
 
400 ft
 
2024
 
Mellitah Oil and Gas
 
Q1 2025
 
Q2 2026
 
Malta/Libya
 
Committed with option to extend
                                 
Available Rigs
                                 
Arabia II
 
KFELS B Class
 
400 ft
 
2019
     
December - 2024
     
Bahrain
 
Warm Stacked
Ran 1
 
KFELS Super A Class
 
400 ft
 
2013
     
February - 2025
     
Mexico
 
Warm Stacked
Var
 
KFELS Super B Bigfoot Class
 
400 ft
 
2024
     
December - 2024
     
Singapore
 
Warm Stacked

1 - HD/HE Capability
2 - Rigs provided by Borr Drilling through a bareboat charter arrangement and services provided by our Mexican Joint Venture or by Borr Drilling, with ultimate customer being PEMEX
3 - Rig provided by Borr Drilling through a charter arrangement, with ultimate customer being Petrobras


               
Operating / Committed
 
Available
 
Cold Stacked
   
                             
Total Fleet
 
24
 
21
 
3
 
0
   


Borr Drilling Fleet Status Report - 19 February 2025 Rig Name Location 2024 2025 2026 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Premium Jack-Ups Southeast Asia Thor Singapore/Southeast AsiaPetronas Carigali HLJOC Undisclosed Gunnlod Malaysia ROC Oil PTTEP ExxonMobil Idun Thailand Prep PTTEP Mist Thailand Valeura Energy Option Saga Brunei Brunei Shell Petroleum Skald Thailand PTTEP Option Var Singapore Middle East Arabia II Bahrain Saudi Aramco Arabia III 1 Saudi Arabia Saudi Aramco Groa Qatar QatarEnergy Europe and Africa Prospector 1 1 United Kingdom/Netherlands Neptune ONE-Dyas ONE-Dyas Undisclosed ONE-Dyas Option Natt Congo ENI Norve Gabon/Equatorial Guinea BWE Marathon Oil Vaalco Energy Option Prospector 5 1 Congo ENI Gerd Congo/West Africa Bunduq Prep/Mob ENI Undisclosed Vali Malta/Libya Prep/Mob Mellitah Oil and Gas Option Mexico Ran 1 Mexico TotalEnergies Wintershall Galar Mexico PEMEX 2 Gersemi Mexico PEMEX 2 Grid Mexico PEMEX 2 Njord Mexico PEMEX 2 Odin Mexico PEMEX 2 Hild Mexico Fieldwood Energy Option South America Arabia I Brazil Saudi Aramco Suspension Prep/Mob Petrobras3 Firm/ LOA Option Available Under Construction 1 - HD/HE Capability 2 - Rigs provided by Borr Drilling through a bareboat charter arrangement and services provided by our Mexican Joint Venture or by Borr Drilling, with ultimate customer being PEMEX 3 - Rig provided by Borr Drilling through a charter arrangement, with ultimate customer being Petrobras


          
Borr Drilling
 
Fleet Status Report - 19 February 2025
 
           
           
           
Additional information regarding this Fleet Status Report
           
           
           
 
This summary contains information on letters of intent/award and advanced negotiations. Letters of intent/award or advanced negotiations may not result in an actual drilling contract.
           
           
           
  Forward Looking Statements:

The statements described in this status report that are not historical facts are "Forward Looking Statements".  

Forward Looking Statements reflect management’s current expectations and assumptions, and are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. No assurance can be given that the expectations expressed in these Forward-Looking Statements will prove to be correct. Actual results could differ materially from expectations expressed in, or implied by, the Forward-Looking Statements if one or more of the underlying assumptions or expectations proves to be inaccurate or is unrealised. These include, but are not limited to, changes to commencement dates, contract duration, earned day rates, locations and other contractual terms; risks relating to the delivery of drilling rigs under construction; sale and purchase of drilling units; oil and gas prices; and risks associated with international operations generally.

No Forward-Looking Statement contained in herein or expressed elsewhere should be relied upon as predicting future events.
We undertake no obligation to update or revise any Forward-Looking Statements to reflect events or circumstances that occur, or which we become aware of, after the date hereof, except as otherwise may be required by law.