Overview
- Borr Drilling reported 2026 contract coverage of 70% at about $134,000 per day, with 78% in the first half and 62% in the second.
- In the Middle East, Arabia III is back online in Saudi waters, and the Groa and Arabia II have notices to restart this month in Qatar and the UAE.
- A fourth regional unit, Forseti, leased to a third party without crew, is being readied to resume work in Qatar.
- In the U.S. Gulf of Mexico, the Odin slipped due to extra maintenance but is now slated to start its Cantium job in April.
- In Southeast Asia, the Skald secured a binding award from an unnamed operator for a campaign expected to start in the second quarter and run about six months.